Bean Hosts Nearly 100 Small Business Attendees at Federal Resources Forum

PUBLISHED: April 06, 2010

Small businesses across multiple industries attended Congresswoman Melissa Bean's Small Business Federal Resources Seminar today to learn about health care reform law, tax credits, lending programs and energy efficiency tools, along with other resources available through federal programs.

Attendees who owned businesses with fewer than 50 employees were pleased to learn that they will not be subject to any mandates or penalties under the new health care reform law, and many who have 25 employees or less will be eligible for tax credits if they provide health insurance to their employees.

"I am so busy working on improving my company that I don't have time to look up all these resources separately," said attendee Sue McDonald, President of MP Global, an international meeting and event planning company. "It was great to have them all in one room. I went to breakout sessions with the Small Business Administration and with the Illinois Department of Insurance, because everyone wants to know how the new health care reform law is going to affect us."

"Small businesses are the cornerstone of our communities and local economies, and create the majority of new jobs in our nation," Bean said. "Many are so busy focusing on running their businesses and responding to their customers that they're unaware of federal resources available to support their growth. I arranged this forum because I heard from businesses at previous events I've hosted that their interests spanned multiple agency programs. For example, the same people that needed access to capital had interest in becoming more energy efficient. This event allowed people to select multiple breakout sessions that were most relevant to their specific business models and connect directly to those federal agencies."

Today's seminar at Northern Illinois University's Hoffman Estates Campus featured breakout sessions including:

Small Business Administration: 504, 7A, and Express loan programs, and small business development resources, including workforce training programs.
IRS: Small business tax incentives (NOL carryback, 179, bonus depreciation, health care credits, energy efficiency incentives), municipal bond programs.
Commerce Department: Export programs to link to targeted countries or clients
Dept. of Energy: Webinars on energy development, energy efficiency, development grants and tools.
Illinois Department of Insurance: Health insurance reform tax credits, rate change transparency, small business exchange.

Also available with information were:

Labor Department: Workforce development.
Service Corps of Retired Executives (SCORE): Business management consulting services.
Northern Illinois University: Manufacturing Assistance Program.

Attendees said the event helped them connect with federal stimulus resources and other programs as they strive to access capital, lower their energy costs, fund R&D, and train their workforces.

Attendee Dustin Sonneborn, who helps companies and municipalities create and finance sustainable energy plans as part of the Verlogics consulting group and as the owner of Buckingham Renewable Energy, said: "I think it's really important to get the word out on some of the federal and state programs, because it can be tough for small business owners who have to juggle a lot of different things to get their minds around some of these programs. I attended the breakout sessions with the Department of Energy and the Small Business Administration. I don't have much need for access to capital right now, but that was one of the most popular with the other attendees. Personally, I found the Department of Energy session really informative, as I had specific questions about the availability of grant funding."

Terry Johnson, the CEO of manufacturer Gamon International, said he came to the event even though he had only one concern - access to affordable capital through the SBA.

"I'm an older guy and I'd looked on the Internet for the information already," Johnson said. "It was nice to be able to see everybody in person and reinforce the thoughts that I had. I'll be applying for an SBA loan."