Manufacturers are the most prolific job-generators in the United States. Their contributions are being honored today (Oct. 7) on National Manufacturing Day.
Manufacturing supports an estimated 18.5 million jobs in the U.S.—about one in six private-sector jobs, according to the National Association of Manufacturers.
Over the last three years, CDC Small Business Finance has provided financing to manufacturers that have created and preserved over 3,300 jobs in California, Arizona and Nevada.
One manufacturing company that recently took advantage of SBA financing to grow its businesses and create jobs was Veris Manufacturing in Brea, California. Founded in 1987, Veris forged a name for itself providing contract electronic manufacturing services (EMS) to a variety of industries including aerospace, automotive, telecomm, medical and the military. As the business grew, space became a premium. Rather than continuing to lease warehouse/office space, Veris’ owners used a $4.8 million SBA-504 loan to purchase a new, 27,000 square foot home for the company. They anticipate expanding the Veris workforce by 30% over the next two years.
Small business owners can learn about various financing programs available to them by visiting CDC Small Business Finance, or by calling 800.611.5170.