SBA loan saves local jobs
By Justine Judge
Story Published: Mar 8, 2011 at 6:39 PM EDT
For the past 21 years, Millenium Press in Agawam has been printing off anything from business cards to brochures and catalogs for other area businesses and even colleges. The family owned company employs 14 people and says while business has been good, the economic downturn has started to catch up to them. Especially after the purchase of new printing machines needed to keep up with customer demand. Making the possibility of closing a reality.
Congressman Richard Neal says "If this facility were to close. What would happen would be the loss of good paying jobs. But, just as importantly it would have been a long time before many people would get back into the employment market."
But, thanks to a 1.9 million dollar loan from the Small Business Administration. Millenium Press says, they will be able to stay open and maybe even expand.
Millennium Press President, James Sullivan says "We've invested in a lot of technology over the years which has really paid off. But, during these economic times we want to continue to invest and again, keep the jobs."
SBA officials say local businesses like this are exactly who they want to help.
SBA Lender, Gary Besser says Lending "This is the type of situation and type of customer that SBA does best. How do we help a small business that has an excellent track record but needs a little bit of help. How can we reposition them and that's what this load did for them."
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