December 18, 2014

Neighborhood News

How to select the best legal structure for your business

Nominate a Small Business for National Small Business Week Awards

SBA Loans Explained

Neighborhood News

1) AMPBID Offices closed December 22-26

The Adams Morgan Partnership BID offices will be closed December 22-26. For emergencies please call 202-997-0783. Happy Holidays!

2) New business that opened recently

One to One

Lebanese Bistro

Opened at 2418 18th Street, NW this week. Hanna Achour and her staff look forward to welcoming you to enjoy delicious Lebanese cuisine. Their menu even features a whole roasted lamb stuffed with rice that if you order it 24 hours in advance will feed 25 people!

Store hours are Monday through Thursday 10 am to 12 midnight, and Friday to Sunday 10 am to 4 am. They offer dine-in, delivery and pick up. Telephone: 202-332-1111

3) Great Streets legislation passed DC Council yesterday

In February 2014, Kristen Barden discovered that commercial corridors had been added to the Great Streets Program http://greatstreets.dc.gov/

included corridors along Connnecticut Avenue. The Great Streets Program by definition is "a commercial revitalization intiative to transform emerging corridors into thriving and inviting neighborhood centers."

Ms. Barden was alarmed that corridors along Connecticut Avenue could be considered 'emerging' to the exclusion of Adams Morgan. So she pushed Councilmember Jim Graham to introduce legislation in March 2014,  to amend the Retail Incentive Act of 2004 to designate certain neighborhood Retail Priority Areas including Adams Morgan to enable small businesses in the corridor to be eligible to apply for up to $85,000 grants for capital improvements in their businesses.

After much work by many people, this legislation passed DC Council yesterday and just needs to be signed by the Mayor. We recognize that the boundaries included in the legislation http://lims.dccouncil.us/Download/31346/B20-0721-Engrossment.pdf

exclude a portion of the Adams Morgan BID boundaries, but that will be corrected in the next DC Council session.

This is a great victory for us! The next period to apply for these grants will be in the Fall of 2015. We will announce that here in this newsletter.


4) Perry's New Year's Eve and New Year's Day specials

New Year's Eve
12/31/14 Seating offered from 5:30pm to 11pm
4 course prix fixe menu $57 not including tax and gratuity
Complimentary champagne toast at midnight with purchase of dinner
Reservations 202.234.6218 http://www.perrysadamsmorgan.com/
++++++++++++++++++++++++++++++++++++++++++++++++++++
Special New Year's Day Drag Brunch
1/1/15 First come, first served seating from 11am to 3pm
Complimentary select cocktail with purchase of brunch
Happy Holidays!
202 234 6218 p

202 234 9453 f

www.perrysadamsmorgan.com

1811 Columbia Rd. NW, Washington, DC 20009


5) Happy Holidays from And Beige!

Visit And Beige during the holiday season and discover a unique selection of holiday gift ideas for the home.  Voluspa has created 3 new festive holiday candle fragrances for the season, now available at And Beige.   They smell delicious!

DAREN MILLER
AND BEIGE,
1781 Florida Avenue, NW
Washington, DC 20009
daren@andbeige.com
T. 202.234.1557
F. 202.234.1559

LIKE US ON FACEBOOK!
http://www.facebook.com/andbeige
http://www.andbeige.com


6) Little Fountain Cafe's New Year's Eve specials
It's not too early to think about where you want to spend New Year's Eve . This year, Little Fountain Cafe is very excited to be featuring a local guest chef... Sarah Smith , who's been showing off her stuff for years at Cashion's Eat Place and most recently Johnny's Half Shell.  As usual, LFC offers a quiet, comfortable place to celebrate, away from all the usual madness.  We will have a special 4 course prixfixe menu which is posted on our website, littlefountaincafe.com .  Reservations are highly recommended and will be accepted by phone only.
Happy Holidays!
Patrick and Kim

2339 18th Street, NW

Washington, DC  20009
202-462-8100

7) Skynear Designs

Shop Skynear Designs at 1800 Wyoming Avenue, NW on Saturday December 20th and enjoy Free Wine Cocktails while you shop along with 15% off all Christmas decor and a FREE art book with a purchase over $20. There are great last minute gifts and stocking stuffers like scarves, candles, jewlery, pillows, blankets, hats, home decor and more...

Lynn, Kayti, Pearl and Gael send Seasons Greetings and look forward to offering exciting events after the new year!

Skynear Designs

202-797-7160

8) Thanks DCist for the shout out to Pop's Sea Bar and Roofers Union:

http://dcist.com/2014/12/the_best_new_bars_of_2014.php

9) Madam's Organ's annual holiday party for needy children - December 18th

Tonight, December 18th, from 5 to 7 pm, Madam's Organ continues their 18 year old tradition of hosting 100+ needy children for a visit and gift from Santa. Alain Nu will perform magic and kids can practice their singing with karaoke Christmas carols and food and Christmas cookies.

Madam's Organ

2461 18th Street, NW

202-667-5370 for questions

10) Jack Rose New Year's Eve specials - two events

Jack Rose Dining Saloon

2007 18th Street, NW

Neighborhood Cook-Out

from 5 to 8

All you can eat and drink

Pre-bash on the terrace

Beer, Bourbon and Southern BBQ

$45 per person

For tickets call: 202-588-7388 or

jackrosenye2015.eventbrite.com

New Year's Eve Bash

Doors Open at 8 PM

Open bar to 1 AM, cigar specials, DJ, Dancing and photobooth

Complimentary passed hors d'oeuves from 8:30 to 10:30 pm

Champagne toast at midnight

$125 per person

For tickets call: 202-588-7388 or

jackrosenye2015.eventbrite.com

11) Lunar Massage holiday specials

Lunar Massage

1768 Columbia Road, NW

2nd floor

Your neighborhood bodywork studio

Buy gift certificates online and print or email.

Keep your holiday season stress free by getting local friends and family a gift certificate to Lunar Massage. We're a home-grown DC brand and DC's best bodywork studios (now a family of FOUR!). Skip the cheesy, overpriced spa certificates and get your peeps a massage that will be easier to schedule and have longer term results.

BUY NOW

Members: get 15% off a gift card with a massage Take time for self-care this month so you actually enjoy the holidays instead of succumbing to the craziness.

Until December 31, Members can get 15% off a gift card purchase in conjunction with a massage appointment. That's more than the usual 10% off gift card purchases and you can give yourself the gift of massage and share the love with someone else! This is for Members only and can't be a standalone purchase - it goes with an appointment in the month of December.

Schedule now


Not a Member yet? Join in the studio! It's a mere $40 a year for access to lower prices for each massage and special discounts like 20% off in your birthday month.


http://www.lunarmassagedc.com/

How to select the best legal structure for your business

Selecting the Most Suitable Legal Structure for Your Business – Should You Incorporate?

Topic: Legal Issues

Tuesday, January 20, 2015 9:00 AM to 11:00 AM

Click here to register!

Taxes and liability exposure are the main implications of business legal structures but there are others too. Come learn the pros and cons of each type of legal structure to ensure you set up your business for succcess.

When: 1/20/15 from 9-11am at DCRA at 1100 4th Street, SW, Washington, DC

Speaker(s): Teka Thomas - Attorney, Paxton Law Group LLP

Co-Sponsor(s): Department of Consumer and Regulatory Affairs

Teka Thomas is an attorney focusing on business transactions, counseling for small businesses and non-profit organizations, and federal procurement.

Teka recently worked at the United States Department of Education in the Federal Student Aid Section as a contract specialist. There, he acted as nexus between departmental customers and commercial vendors for procurement of multimillion dollar federal contracts, specifically in the area of IT solutions for Federal Student Aid. He has hands-on experience with the federal procurement process including bid submission, bid evaluation, and documentation. In the Air Force, he was a procurement officer and a security manager.

Additionally, Teka commits himself to improving the civic community. He has been an attorney poll watcher in three presidential elections, has led grassroots political campaign organizations, and has taught numerous business law workshops in the community.

Teka is licensed to practice law in the District of Columbia and the state of Oregon. He received his J.D. from the University of San Francisco, his A.L.M. from Harvard University, and his B.B.A. from the University of Miami. Teka has experience in criminal prosecution working at the United States Attorney’s Office and two District Attorney’s Offices in the Bay Area.

Fee: Free

Register for this event online

Already Registered? Sign in for more information.

Phone: 202-319-1393 for more information

Nominate a small business for National Small Business Week Awards

The U.S. Small Business Administration, Washington Metropolitan District Office is proud to announce we are accepting nominee applications for all the 2015 National Small Business Week Award categories.

Let’s show our support and appreciation of our local small business community by submitting nominees for the following award categories:

Award Selections:
•   Small Business Person of the Year Awards – anyone/self- nomination
•   Small Business Exporter of the Year  - anyone/self- nomination
•   Small Business Prime Contractor of the Year Award  - may only be nominated by a Federal agency
•   Small Business Subcontractor of the Year Award  - may only be nominated by a Federal prime contractor
•   Dwight D. Eisenhower Award for Excellence  - self-nomination
•   8(a) Graduate of the Year Award  - anyone/self-nomination
•   Small Business Development Center Excellence and Innovation Award - anyone/self- nomination
•   Women’s Business Center of Excellence Award - anyone/self- nomination

Nomination Deadline:
January 5, 2015 by 3:00 p.m.

Online Submission and Guidelines:
http://awards.sba.gov
Please consult the nomination guidelines prior to submitting a nomination.  Some of the awards have limitations on who may nominate a candidate for the award.


Award nominations may be submitted one of three ways: (1) through SBA’s online portal ( http://awards.sba.gov ); (2) in hard copy via mail to address below; or (3) hand delivered to address below.  No matter which method is chosen, nomination deadline is January 5, 2015 at 3:00 p.m. ET.

U.S. Small Business Administration
Washington Metropolitan Area District Office
Attn: Shuraie L. Mackin
409 3rd Street, SW, 2nd Floor
Washington, DC 20416
(202) 205-6392

For More Information:


If you have questions about SBA’s award nominations or award criteria, please contact Shuraie Mackin at (202) 205-6392 or shuraie.mackin@sba.gov .

SBA Loans Explained

https://www.sba.gov/blogs/sba-loans-explained-101-small-business-owners

SBA Loans Explained – A 101 for Small Business Owners

By Caron_Beesley , Contributor
Published: December 9, 2014 Updated: December 9, 2014

It’s been a stellar year for SBA lending, which is good news for small businesses.

In FY 2014, the SBA’s flagship loan program, the 7(a) Loan Program , achieved another lending record . By the end of the fiscal year (Sept. 30), SBA had approved 52,044 7(a) loans for nearly $20 billion, an increase of 12 percent in the number of loans and 7.4 percent in dollar amount over the previous year.

If you have struggled to get financing in the past or are thinking of venturing into small business loan territory for the first time, you may be wondering what SBA’s loan programs are all about.

By way of introduction to SBA’s loan programs – what they are, who can benefit, and how to apply – here’s a brief 101.

What is an SBA loan?

First, let’s dispel a myth – SBA doesn’t make direct loans to entrepreneurs to start or grow a business. Instead, it provides a guarantee to banks and lenders for the money they lend to small businesses owners. This guarantee protects the lenders interests by promising to pay a portion of the loan back if the business owner defaults on the loan. So when a business applies for an SBA loan, it is actually applying for a commercial loan through a bank or authorized SBA lender , structured according to SBA requirements with an SBA guarantee.

Essentially, SBA loans alleviate the risk associated with lending money to business owners and entrepreneurs who may not qualify for traditional loans – thus opening up lending opportunities to thousands of entrepreneurs, start-ups, growing businesses, minorities and veterans. Read more about SBA’s role in the process .

What types of loans are available?

There are several types of loans that business can take advantage of, each developed to suit the needs of your business. The 7(a) loan program , for example, can be used for a number of purposes including working capital, revolving funds, equipment purchases, refinance existing debt and more. This short video provides the low-down on 7(a) and is worth a look.

SBA also offers export-assistance loans (which grew by 3.7 percent this year) as well as financing for seasonal working capital ( CAPLine ) or major fixed-assets such as equipment of real estate ( CDC/504 loans ).

In addition, SBA can help business owners in need of financing to help with disaster recovery. Disaster loans – available to homeowners, renters, businesses of all sizes and private, nonprofit organizations – can be used to repair or replace items that have been damaged or destroyed in a declared disaster including, real estate, personal property, machinery and equipment and inventory and business assets.

If you are looking for smaller loan amounts (under $50,000), consider the Microloan program or the SBA Express program. A subset of the 7(a) loan program, SBA Express is designed for businesses with financing needs up to $350,000. The proceeds can be used to finance a variety of business activities and no collateral is required for loans up to $25,000.

It’s also worth knowing that fees on all SBA loans are currently extremely favorable to veterans and are currently set at zero for loans under $150,000.

Which loan is right for me?

Still not sure if there’s a loan for your particular need? Check out this loans wizard from BusinessUSA.gov. In a few steps it will point you to the right kind of financing.

Is my business eligible for a loan?

While each loan has its own specific qualification criteria (here’s the deal on 7(a) eligibility ), talk to your bank or lender about your needs and business profile. Another resource is your local SBA District Office .

Take note, in addition to meeting SBA requirements, lenders will also take into consideration credit factors such as your business cash flow, equity investment, collateral, etc.

How do I apply for an SBA loan?

While each SBA loan program has its own eligibility criteria and application process (which you’ll work through with your lender), there is some advance preparation that you’ll need to undertake.  From personal and business financial statements to old tax returns, this loan application checklist details what you’ll need to prepare in advance of your loan application. This online course also explains how to prepare a loan package .

More information

For a complete overview of SBA’s loans programs, visit the Small Business Loans Guide on SBA.gov.