All Entries in the "SBA" Category

Rhode Island Award Winners Honored at SBA’s “Salute to Small Business” Luncheon

LINCOLN, RI – On Friday, May 11, The U.S. Small Business Administration honored the 2018 Rhode Island SBA award winners at the annual “Salute to Small Business” luncheon, hosted by SCORE. Held at Kirkbrae Country Club in Lincoln, this year’s event was kicked off with spirited remarks from SBA District Director, Mark S. Hayward, and SCORE Chairman, Ed Gromada. Also addressing the near 300 attendees was SBA Regional Administrator, Wendell G. Davis, along with Lieutenant Governor, Daniel J. McKee; Secretary of State, Nellie M. Gorbea; and General Treasurer, Seth Magaziner, all of whom spoke to the vital impact small businesses have on the economy of Rhode Island.

The 2018 SBA awardees consisted of 21 small business owners and champions in 14 diverse categories, including Small Business Person of the Year awardee, Kelly Mendell, President of MIKEL. Located in Middletown, MIKEL is a woman-owned, undersea warfare company that specializes in products and services used in the defense industry. Mendell took over as president of MIKEL in 2008, and has been a client of SBA resource partners, SCORE and The Center for Women & Enterprise. Mendell has also taken advantage of the SBA’s Small Business Innovation Research (SBIR) grants to help further her companies research and development capabilities.

Also honored was the National Subcontractor of the Year, Evans Capacitor Company, located in East Providence. Evans Capacitor, founded by Charles Dewey and David Evans, is a capacitor manufacturer and distributor working in the aerospace and defense sectors. Nominated for the award by Lockheed Martin, Evans continues to display innovation and quality that makes them a leader in their field.

“To have a Rhode Island small business be selected for a national award is a testament to the incredible small business community we have here,” said Mark S. Hayward, SBA district director. “The SBA’s Office of Advocacy reports that there are 29.6 million small businesses in the United States and the fact that of all of those businesses the best subcontractor was right here is truly remarkable and well deserved,” he added.

Of the 14 awards recognized, 10 were in the running for regional awards, with Rhode Island businesses securing three of those awards in the categories of Financial Services Champion, Veteran-Owned Small Business, and Woman-Owned Small Business. New England Financial Services Champion was awarded to Buck Harris, Vice-President of Community Lending for Community Investment Corporation (CIC). New England Veteran-Owned Small Business was awarded to John Shepard, Founder and CEO of Veterans Assembled electronics (VAe). Also, New England Woman-Owned Small Business was awarded to Carol Dancer, President of Absorbent Specialty Products.

In a heartfelt moment, Cheryl Watkins Snead, Founder and CEO of Banneker Industries, was posthumously honored with the Rhode Island District Director award. Accepting on her behalf were her sisters Rene Payne and Linda Watkins, as well as protégé Junior Jabbie. Jabbie thanked the SBA for honoring Snead and proclaimed that the day was not to be a solemn one, but rather a celebration of the incredible leader, small business owner, trailblazer, and human being that Snead was.

Year after year the event proves to be a great venue to honor small business excellence in Rhode Island, and this year was no exception. The Rhode Island District Office of the SBA will begin accepting nomination for the 2019 Small Business Awards later this year. For more information or requests for photos from the event contact Ryan Brissette, Public Information Officer, at ryan.brissette@sba.gov or 202-805-9168.

A complete list of Rhode Island SBA award winners can be found below.

SBA Awardees

Small Business Person of the Year – Kelly Mendell, President of MIKEL (Middletown)

Joseph G.E. Knight Award for Entrepreneurial Excellence – Christine Francis, Owner of Carmen & Ginger (Providence)

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

SBA & the Center for Women & Enterprise to Hold Congressional Luncheon Honoring Small Business Award Winners

Rhode Island Firm Takes Top Honors in Federal Contracting

 WASHINGTON –Evans Capacitor Company, a firm responsible for the development of capacitor technology for the defense and aerospace industry, from East Providence, R.I., has been named the National Subcontractor of the Year by the U.S. Small Business Administration.

Evans, along with other national winners and finalists for the National Small Business Person of the Year, will participate in a recognition ceremony at the U.S. Institute of Peace on April 30, during National Small Business Week in Washington, D.C.  SBA Administrator Linda McMahon will present the awards.

The federal government awarded over $99 billion of all federal contracts to small businesses in FY16, which translates to more than 537,000 jobs supporting revenue in the U.S. economy.

The two small businesses were selected from among a strong field of candidates submitted by SBA’s ten regional offices.  The awards honor small businesses that provide outstanding goods or services to the federal government as prime contractors or as subcontractors.

Details on this year’s winner:

• Small Business Subcontractor of the Year:  Evans Capacitor Company of East Providence, R.I.   Before co-founding Evans Capacitor Company with Charles Dewey in 1996, David Evans led the engineering group that developed processes and material for hermetic packaging of capacitors and novel capacitor technologies. Dewey later joined Evans in launching Evans Capacitor to develop capacitor technology for the defense and aerospace industry. Prior to joining Evans Capacitor, Dewey held various management positions in production management, technical marketing and finance with several companies.  Evans Capacitor developed the machining process used in high capacity capacitors and was one of the early developers of high energy density capacitors employing an electrochemical cathode and electrolytic anode.

Evans continues to invent, research and develop the capacitor technology while leading the engineering team at Evans Capacitor and Dewey provides oversight and direction of operations.  The company delivers high power density capacitors to over 100 customers annually, including every major U.S. defense contractor.  It has production facilities in Rhode Island and Maine.  In 2010, Lockheed Martin Missiles and Fire Control honored Evans Capacitor for its 100 percent quality and delivery ratings.

For additional information on National Small Business Week, please visit www.sba.gov/nsbw

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Young Entrepreneur of the Year

“I wanted to create a healthcare system that I would be happy to be not only a provider but a patient in”

A lifetime of education led Dr. Johnny Luo to the graduation stage of Brown Medical School, clinical training in North Smithfield, and into the lives of his patients. Dr. Luo was prepared to treat their illnesses and injuries but he was certainly not prepared to explain health insurance. More often than not, Dr. Luo found himself helping Medicare eligible patients understand the various plans as part of his daily routine especially as the Affordable Care Act was being implemented.

Frustrated with the lack of clear education about these plans, Dr. Luo made the decision to no longer pursue clinical medicine but start educating people on how to make the best decision for their healthcare. Doctor’s Choice was born as a resource to help individuals make an educated decision regarding Medicare health plan coverage.

“It was never about the degree or the pride of being a doctor it was really about healing healthcare,” said Dr. Luo, “I’m really passionate about healthcare but more selfishly I wanted to create a healthcare system that I would be happy to be not only a provider but a patient in,” he added.

Doctor’s Choice operates as a “choice model” brokerage, meaning they’re not tied to any particular insurance company. Their mission being to offer as many competitive Medicare health plan options as possible while providing the guidance to help individuals decide which option is most suitable for them. Doctor’s Choice is paid a fee from the insurance companies they work with to help their customers with enrollment, this model allows their consultations to be free of charge.

As a testament to how difficult these healthcare plans can be to maneuver, Dr. Luo has seen tremendous growth, tripling the size of his Warwick office, expanding his services to 23 states, and hiring six new employees in the last year. He has also published a book, “The Retiree’s Guide to Medicare”, as well as expanded his services to work with some of the largest employers to help educate retirees as well as family members of employees.

“There is no lack of information out there, the government gives you a giant book every single year called “Medicare and you”, it’s very comprehensive,” said Luo, “the problem is that people are not looking for more information, what people are really looking for is actual guidance. What we do that’s different from anywhere else is that we do a full analysis of each market that we’re in, we take a look at who’s enrolling in what, and also the experience they are having –whether they’re happy with their plan or not- and we end up being able to recommend plans based on a person’s specific medical conditions, what drugs they take, how comfortable they are with risk, as well as what their lifestyle looks like.”

While Dr. Luo’s age may dictate youth, his wisdom and understanding of both business and life is anything but, “Savor the journey that gets you to the next level,” he said. “The journey is what makes everything you work for, worth it. Never settle because you can always do more, give more and accomplish more, and in the end enjoy more. This is the distinguishing factor between the life you want to live and the life you deserve to live.”

For his demonstrated success and potential for future growth, the U.S. Small Business Administration is pleased to honor Dr. Johnny Luo, President of Doctor’s Choice, as the 2018 Rhode Island Young Entrepreneur of the Year.