All Entries in the "Volume 5" Category

2016 Rhode Island Financial Services Champion

A Champion For All SmallBusiness In Rhode Island

Holly Ferrara, Vice President of Commercial Lending, Greenwood Credit Union

“When I meet with a borrower it’s not just an interview for them, it’s an interview for me as well and I’m proud to say that, while I am the lender, I strive to make the person across from me to feel as comfortable as possible, so as to not make them feel intimidated or uneasy about the process.” The old adage of “respect goes a long way” is not lost on Holly Ferrara, Vice President of Commercial Lending for Greenwood Credit Union. “I give everyone the respect I would want myself.” This statement, while once commonplace has been lost in much of today’s hustle and bustle, relegated to a time gone by. But for Holly this is standard practice, she has the consummate “glass-half-full” attitude, naturally taking negatives and by intelligence and creative thinking makes them positives.

Greenwood Credit Union exists as a single entity, without the safety net of multiple locations. Where some may see limitations, Holly sees opportunity, “Geographically our presence is limited but I don’t find that to be a challenge, we have a great reputation in commercial lending.”

It is this same attitude that has convinced Holly to buck the mold and break out of common credit union conventions, “Commercial lending at credit unions had traditionally been geared towards small rental properties but in my four years here at Greenwood Credit Union we have expanded those horizons to include SBA loans among other commercial loan type; this expands the portfolio but more importantly meets the needs of our borrowers.”

In 2015 Holly brokered an SBA 504 loan of $335,000 for a real estate project totaling $805,000 to finance the 2,485 square foot expansion of a daycare center. The project added three new classrooms and enabled the business to accommodate up to 79 children, while also adding seven new staff positions. This is a glowing example of the effect Holly has made at GCU.

Holly began her commercial lending career in 2004 while still enrolled at Rhode Island College. She got her start as a credit analyst for a local bank and continued to professionally develop as a commercial lender, garnering increased responsibility at each and every step.

By 2010 Holly had achieved her

MBA form Bryant University and was attending various banking and commercial lending schools as well as fulfilling her passion for teaching an adjunct professor at various local schools and universities. For the last four years Holly has been in her current position as Vice President of Commercial Lending for Greenwood Credit Union. In that time she has consistently grown the commercial portfolio while making great strides in SBA lending, becoming a SBA preferred lender in 2015. As a testament to her hard work GCU finished 8th in Rhode Island for SBA lending for fiscal year 2015.

Besides her dedication to GCU, Holly also finds time to volunteer at the Blackstone Valley Advocacy Center and has done so since 2008. Holly sits on the board of directors for of the organization that provides services to victims of domestic violence including domestic violence education, awareness, advocacy, and emergency shelter services.

It is these characteristics and her willingness to go above and beyond that makes it an honor to award her with the 2016 Small Business Administration Financial Services Champion of Rhode Island Award.

RISBJ Staff | Apr 21, 2016

2016 Rhode Island Woman-Owned Small Business of the Year

This Civil Engineering Firm is building a strong case for Small Business in Rhode Island

Patricia Steere, Founder and Owner, Steere Engineering

Patricia Steere earned her Bachelor’s degree in Structural Engineering in 1979 and her Masters from in 1981, both from the University of Delaware. Upon graduation she went on to design nuclear power plant containment structures.

By the early 1990’s her interests had changed and were guiding her toward bridge engineering. She studied, she learned, and by 2002 she was the Bridge Department Manager for the Providence office of Maguire Group. While with Maguire Group she was the lead bridge engineer for the $600 million I-195 relocation project and the lead engineer for the Iway Bridge.

These years of experience were vital in her growth as both and engineer and leader and when the project finally came to an end she had all the tools she needed to start her own business. Patricia opened the doors to Steere Engineering in 2010 with one employee, herself.

Steere Engineering began as a civil engineering firm performing bridge and building design. By 2012 the business began to grow quickly adding four structural and one civil engineer as well as a 3D CAD technician. This influx of employees had boasted the team to 10 members by years end. With the influx of talent Patricia began training five of her employees to perform National Bridge Inventory System (NBIS) Bridge inspections. This allowed her to begin offering bridge inspection services opening a new line of business.

In 2013, she added five additional employees to account for emerging opportunities as well as demand. 2014 proved to be a steady year for Steere Engineering and much of the year was spent concentrating on putting the infrastructure in place to further the business’ growth.

By 2015 Steere Engineering was capable of performing NBIS bridge inspection, bridge ratings, highway and traffic design, 3D CAD, construction services, as well as highway, civil, traffic, and environmental permitting capabilities to become a full service civil engineering firm. When asked on when she decided to add these capabilities to her firm she explained, “You have to be flexible, if your original business plan isn’t working quite the way you thought it would you have to look for other opportunities.”

Steere equates her firm to a “small firm with the experience of a large firm,” and her track record speaks for itself. Seven of her engineers worked together on the Iway project, the largest in RIDOT’s history. Steere Engineering is also the only Disadvantaged Business Enterprise (DBE) headquartered in Rhode Island offering full service transportation in the state.

Entering the Steere Engineering office you are whisked into a large main area with desks throughout, no walls, no cubicles, and no limitations. This open bay concept allows her employees to constantly communicate and bounce ideas off each other. A collaborative working environment promotes innovation and growth and that is just the way that Patricia likes it. She is confident that this environment will continue to propel Steere Engineering forward and one day allow them to grow to a regional civil engineering firm doing Department of Transportation assignments from here to New York.

Although extremely dedicated to her business Ms. Steere also finds time to volunteer for the Rhode Island Urban Search and rescue, serving as one of seven Structural Spets on the team. She has deployed with the team on multiple occasions including the 2010 floods and Hurricane Sandy. Patricia also serves as Chair of the Civil Engineering Advisory Committee for the University of Rhode Island, and is the member of the Architects and Engineers Emergency Response Task Force. For all of the talents the U.S. Small Business Administration is pleased to honor Patricia Steere, owner of Steere Engineering 2016 Rhode Island Woman-owned Small Business of the Year Award.

RISBJ Staff | Apr 21, 2016

2016 Rhode Island Minority-Owned Small Business of the Year

Great Shipping and Postal

Owners Henry Osorio and Maria Teresa Ochoa

17 years ago Henry Osorio, Maria Teresa Ochoa and their two sons Mauricio and Julian emigrated from Columbia to America. Upon arrival Henry began working for Citizen’s Bank and continued to do so until he and his wife noticed a need within their community. The need was affordable international shipping and Henry and Maria Teresa were happy to answer that need.

Henry and Maria began researching the process and became aware of business classes offered by the Center for Women in Enterprise (CWE). With the help of the CWE, the guidance of Councilwoman Sandra Cano, and uncountable hours of hard work, Henry and Maria were able to open Great Shipping and Postal LLC in 2012.

The doors opening was just the beginning for this couple as owning their business brought more challenges including licenses, permits, regulation, taxations, and many months of process. One by one they achieved these steps, learning the codes and process of this new system, fulfilling the requirements put before them.

Great Shipping and Postal isn’t strictly a business for Henry and Maria Teresa it is a place for the community. Finally there was a way to ship goods back to loved ones that was made easy for the consumer. The challenges of meeting all of the federal demands on shipping were streamlined by Henry and Maria Teresa, making the process simple for their customers. Finally the distance between America and Latin America wasn’t thousands of miles but simply up the block. Tucked in right on the corner of 817 Dexter Street is a place that is dedicated to getting what you want, where you want it to be, and making it as easy on you as possible.

Their community is thankful but Henry is as well, “I’m grateful to God who gives me strength every day.” Maria Teresa is also grateful and weighed in on how she believes they had come to be successful, “Great service is not a cliché, it’s a need, we provide great service and we take pride in spoiling our clients.” That sentiment couldn’t be any truer as everyone who enters the business is welcome to a free cup of coffee, sharing a Columbian brew that fills up everyone’s cup with a sweet taste of Henry and Maria’s home.

Little things like the coffee help display the passion that both Henry and Maria Teresa bring to their business. This passion feeds the business but it is their pride that ensures that Great Shipping and Postal is a success. They are adamant that if they tell you your package will be somewhere by a certain day than by their word it most assuredly will. This dedication has almost single handedly grown the business, which started strictly in shipping to include money transfer, mailbox service, truck rental, storage and more. When asked about the growth of the business Maria Teresa elaborated, “Yes we started in shipping but we’ve become a multi-source destination to meet what the community needs.” Has it been easy? No, but Henry and Maria Teresa work as hard today as they did the day the doors opened so that their customers don’t have to.

For their demonstrated success and potential for continued growth, the U.S. Small Business Administration pleased to honor Henry Osorio and Maria Teresa Ochoa, owners of Great Shipping and Postal as the 2016 Rhode Island Minority-Owned Small Business of the Year.

RISBJ Staff | Apr 21, 2016

The 3rd Annual Entrepreneurial Women To Watch Awards

Every day RISBJ takes on the significant undertaking of giving voice to the Rhode Island small business community. We are a hub of information, delivering realities of the current business environment. Our writers render best practices, and we look to the business community to share and evolve together. The highlight of the year, however, is sharing compelling stories of the women who truly make Rhode Island thrive.

We celebrate the third annual Entrepreneurial Women to Watch Awards that began in 2014 as a way to honor the most confident, tenacious, professional, and sophisticated women industry leaders in our state and the incredible work they’ve been doing. RISBJ presents three award recipients for each of the following categories: Community Champion, Minority-Owned, Small Business, Solopreneur, and Startup, for a total of 15 noteworthy recipients.

Receiving over 400 nominations this year, we attentively narrowed our search to present to you 15 remarkable women, each with their own distinct stories. Each of these women show us entrepreneurship takes courage, resilience, and determination, every day. Giving voice to their journey is a tremendous honor.

We wish to congratulate the following winners of the third annual Entrepreneurial Women to Watch Awards:

Tuni Renaud Schartner, TRS Strategies Community Champion

Andrea Chait, Momentum Inc. Community Champion

Susan Pascale-Frechette, Pods Swimming Community Champion

Atabey Sánchez-Haiman, Giraffes and Robots Minority-Owned

Cindy Burke, Esq., Burke Law Group LLC Minority-Owned

Krystal Toro, SOFIT Cycle and Fitness Studio Minority-Owned

Kerrie Lanoie Sonoma, Bistro and WineBar Small Business

Gina DiSpirito, GLAD WORKS Small Business

Loren Barham, Loren Hope Designs, LLC Small Business

Kristin M. MacRae, Organizing In RI, LLC Solopreneur

Marni MacLean Karro, Jack’s Snacks, A Dog Bakery Solopreneur