Small Business Matters

Two small business owners applying for business loan inside of coffee shop

Small businesses are at the heart of every community. National Small Business Week, April 30 – May 6, 2023, gives us an opportunity to shine a light on the businesses that provide vital services to our communities.

According to the Small Business Administration (SBA), over the past 25 years, small businesses have accounted for two out of every three jobs. These businesses rely on local banks, like Pennian, to help with financial services so they can help meet the needs of the community.

Small businesses know that bigger isn’t always better. When it comes to financing, most turn to community banks, which fund more than 60 percent of all small business loans under $1 million. In a series of studies from the Federal Reserve Banks, small businesses consistently rank community banks as their lender of choice.

In honor of National Small Business Week, we are highlighting three of our small business customers in a series of videos. Each were asked about the rewards and challenges of owning a business, plus the importance of having a community bank partner, like Pennian. These videos feature:

  • Randy Pellman, owner of Truss Tech based in Mifflintown, PA
  • Sarah Barr, owner of Konhaus Print and Marketing based in Lemoyne, PA
  • Toby Spigelmyer, owner of Spigelmyer Wood Products based in Lewistown, PA

You can find all these videos on our YouTube channel.

We’ve also put together a Small Business Resource guide, to highlight some of the products we have that are beneficial to local businesses.

You can find out more about National Small Business Week on the SBA’s website.

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