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February 17, 2006     Cape Gazette
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February 17, 2006

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mmll m n iiii CAPE GAZETTE Friday, Feb. 17 - Monday, Feb. 20, 2006.9 Delaware agrees to h.elp small businesses By Rachel Swick Cape Gazette staff small businesses in Delaware will benefit from a new partner- ship agreement, allowing business owners to expand into the global market. State Treasurer Jack Markell met with representatives from Export-Import Bank (Ex-Im) of Washington, D.C., Delaware Economic Development office and World Trade Center Delaware on Thursday, Feb. 16 in Dover to sign an agreement that will help boost the local small business economy. The partnership wil! allow Delaware small businesses to gain financing tools, resources and backing from Ex-Im, an inde- pendent government agency. "This is an exciting opportunity for us to help small businesses that could benefit from export," said Markell.. "Many businesses want to grow, but may not have the capacity to go out and get loans." Markell said the agreement will help businesses uncover potential to join the global market. "We do have a ton of small businesses in Delaware that make up the backbone of the economy," said Markell. "Our future is going to be dependent on small busi- nesses." With the increasing use of the internet, small businesses are get- ting offers from companies over- seas, but the business owners often hesitate to enter into con- tracts because of financing prob- lems, said John Emens, deputy head of export finance and vice president for small businesses at Ex-Im Bank. The bank will be able to ease small businesses into the global market by providing backing for loans, banking transfers and pay- ments. Ex-Im has nearly four dozen similar agreements with cities and states nationwide. Delaware's agreement will be the 45th. "This helps exports take place and helps our businesses expand," said Emens. "The theme is to help the business, and our role is as a financial bridge." Most local banks do not advance funds on foreign sales, a hurdle for small companies. Under the program, Ex-Im Bank guarantees payments coming from other countries and small busi- nesses are protected for up to 95 percent on invoices. "We don't help them find the sales, but we put our financial muscle behind them," said Emens. Rebecca Faber, executive direc- tor for World Trade Center Delaware, said her nonprofit organization has been working to help small businesses since 1997. This agreement will further the work that has already been done, she said. "The partnership brings more emphasis to the options out there," said Faber. "The assistance can solve a lot of the problems that face small businesses." World Trade Center Delaware holds seminars to educate busi- ness owners about the financial resources available through both Ex-Im Bank and the Small Business Administration. The next seminar will be held in Dover on Wednesday, Feb. 22. For more information on the seminars, call 302-656-7905. "We help pair the business with a program if it makes sense finan- cially," said Faber. "Our aim is to help small businesses expand into the global market." For more information about Ex-Im Bank, visit and to learn more about the partnership agree-" ment, contact the state treasurer's office at 302-744-1004. Rehoboth audit committee to receive results TheReboboth Beach Audit Committee will meet at 10 a.m., Tuesday, March 7, in the commissioners' room. The city's auditor, Harry & Horty PA, based in Dover, will present its findings in a review of a city audit ending March 31, 2005. DMHOA holds Sussex County meeting Feb. 27 The Delaware Manufactured Home Owners Association (DMHOA) will hold a general membership meeting in Sussex County at 6:30 p.m., Monday, Feb. 27, at the Angola Beach & Estates Clubhouse in Lewes. For more information, call 644-8507. HUGE SALE manu items 7 oN WORTH THE TRIP Streetscape is On... President's Day, Construction " Clearance Sale in progress... PLUS - NEW SPRING ARRIVALS We have plent og__qrkin! 31Rehoboth Avenue//10 Baltimore Avenue Rehoboth E,ach, DE 19071 (30'2) '2'27-7900 - c o ho, www'carltmappareLcm FREE PARKING BEHIND STORE FREE LOCAL DELIVERY PRESIDENTS' DAY SALE & CLEARANCE 2/17 thru 2/20 SAVE 20% to 50% STOREWIDE ON SELECTED ITEMS FROM OUR FA1VIOUS MANUFACTURERS Established 1977 25 BaMmore Avenue Rehoboth Beach, Delaware 19971 Saturday Tastings 302-227-8331 800-225-8331 www. wooden in dian It& cam Monday-Saturday 10-5 Sunday 11-5 February 18 th I to 3 p.m. Welcome Home Safari Dinner for Two