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In the News...
November 5, 2004

Lake-Sumter Community Colleges Business Assistance Center Receives Two Generous Contributions

LEESBURG - Over two hundred new businesses are opening in Lake and Sumter counties each month. This is why the services of Lake-Sumter Community Colleges Business Assistance Center (BAC) is so vital. Created almost two years ago on LSCCs Leesburg Campus as a partnership between LSCC, the County Board of Commissioners, the Sumter County Industrial Development Authority and the Service Corps of Retired Executives, the BAC provides assistance to existing and expanding business, or to those just opening their doors. The BAC is able to offer these services free or for a minimal fee due to the financial support from its partners and other economic development agencies, municipalities and businesses. In the last month, two important donations were presented to the BAC.

The first, a $5,000 contribution, was presented to the members of the BACs Advisory Council during its October 28th meeting. The check was presented by Commissioner Billy Rutter on behalf of the Sumter County Board of County Commissioners .

Another $5,000 was awarded on November 4, during a reception hosted by the BAC and BankFIRST. The purpose of the event was to announce new economic development resources to be provided through the Preferred Lender Services and the Small Business Association (SBA) Express Loan Center. The Loan Center serves as an economic development resource for the Central Florida community by offering borrowers access to one of the widest arrays of government-guaranteed loans available at any bank in Florida, said BankFIRST President and CEO Donald McGowan. As an SBA Preferred Lender, BankFIRST can provide one-day SBA loan approvals, since they are permitted to complete all underwriting traditionally executed by the SBA. BankFIRST is also the only bank in Florida that pays the mandatory guaranty fee for its clients. This fee can be up to 3.5 percent of the total guaranteed amount (maximum of $35,000), added McGowan. Plus, BankFIRST packages SBA loans at no charge for its clients, representing an additional savings of between $1,500 and $2,000. The bank has Lake County branches in Clermont and Eustis. For information about BAC services call 568-0001 or 352-365-3579.