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LL Spring05.indd - Lehman College

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• • • • • • • • • • • • • • • • • CAMPUS • • • • • • NEWS • • • • • • • • • • • • • • • • • • •<br />

Bronx SBDC Partners With<br />

William Jefferson Clinton Foundation<br />

For more than four years, the Small Business<br />

Development Center (SBDC) at <strong>Lehman</strong><br />

<strong>College</strong> has helped thousands of clients start or<br />

expand their businesses—all for free.<br />

To date, the Center has counseled over 3,000<br />

people, saved and created over 1,200 jobs and<br />

helped identify over $28 million in financing for<br />

small business owners. Now the SBDC has taken<br />

its services one step further with help from the<br />

William Jefferson Clinton Presidential Foundation.<br />

Last spring, former President Clinton announced<br />

the expansion of the initial Harlem<br />

Small Business Initiative to include the Bronx and<br />

Brooklyn. The goal is to help small businesses<br />

compete in the growing marketplace. <strong>Lehman</strong>,<br />

along with NYU's Stern School of Business and<br />

other organizations, is leading the effort.<br />

The program provides hands-on project direction<br />

for small business start-ups and a maintenance<br />

plan for participating businesses. It is also<br />

enabling the SBDC to hire 10 <strong>Lehman</strong> students as<br />

paid interns in the Center for a two-year commitment.<br />

Past interns have gone on to work for<br />

companies like Citibank and Sony.<br />

Some of the businesses that have thrived with<br />

the help of the SBDC include the popular Cynergy<br />

Spa on 135th Street in Harlem and Sola Salon<br />

Systems in the Bronx, which has been featured in<br />

Crain’s New York Business.<br />

“We're targeting those who have difficulty<br />

obtaining financial and technical assistance from<br />

traditional sources,” says Clarence Stanley, director<br />

of the SBDC.<br />

Workshops Help Students Get Smart About Credit<br />

Thanks to a new initiative, <strong>Lehman</strong> students<br />

are getting free professional advice on managing<br />

their credit. <strong>Lehman</strong> is one of six colleges<br />

in the CreditSmart program, funded by Freddie<br />

Mac and the Hispanic Association of <strong>College</strong>s and<br />

Universities.<br />

“Indebtedness related to the cost of education<br />

could be compounded in a very negative way by<br />

the poor judgments people may make about consumer<br />

credit,” says Jose Magdaleno, vice president<br />

for Student Affairs at <strong>Lehman</strong>.<br />

“We want to help our students understand<br />

these processes and make sure they have the<br />

information to make the best possible personal<br />

decisions.” More and more employers, he adds, are<br />

factoring credit scores into the hiring process.<br />

Workshops cover topics such as debt management,<br />

understanding credit cards and credit<br />

scores, banking practices and avoiding credit traps.<br />

“The old saying, ‘banks lend money to people<br />

who don’t need it,’ holds true today,” says Stanley.<br />

“Our strength is the ability to help clients get<br />

bank-ready and<br />

put together professionalpresentations.”<br />

Rather than<br />

provide direct<br />

financial assistance,<br />

the Center<br />

helps businesses<br />

identify resources<br />

Clarence Stanley.<br />

and present their<br />

businesses in a<br />

way that will increase their chances of receiving<br />

private funding.<br />

The SBDC has helped clients from a broad<br />

range of businesses, such as retail, construction<br />

and agriculture, and from all walks of life, including<br />

veterans and Welfare to Work participants.<br />

“Due to the scarcity of jobs and because<br />

veterans have a work ethic that could be easy to<br />

adapt to entrepreneurship, the Veterans’ Business<br />

Outreach Program was launched to give<br />

veterans another option—entrepreneurship or<br />

employment,” says Alzie Glickstein, the SBDC’s<br />

business advisor, who is working on outreach to<br />

veterans throughout New York City.<br />

“Targeted business training and counseling,”<br />

she adds, “are necessary to assist the veterans<br />

over the obstacles that can stand between them<br />

and a successful business.” So far, the Center has<br />

aided over 100 veterans. ◆<br />

“They showed a skit about a teen who got<br />

a credit card and went crazy buying stuff she<br />

didn’t need,” says one junior. “I took the course<br />

because I was that girl who went crazy buying<br />

everything.”<br />

The student, who had at least ten credit cards<br />

when she started the workshop, has successfully<br />

paid off three of them already.<br />

According to Vice President Magdaleno,<br />

“The whole issue of consumer credit and money<br />

management is a critical one for young people.<br />

“For the first time, they're becoming exposed<br />

to processes like credit card use and the extent to<br />

which banks and other lenders offer credit fairly<br />

easily to college students. If they handle these<br />

choices wisely, it can really help set the stage for<br />

financial success later on.”<br />

Workshops are also open to alumni. Call 718-<br />

960-8366. ◆<br />

Students and Alums<br />

Embark on Job Search<br />

Hundreds of students and<br />

alumni packed their resumes<br />

and interviewing skills for this<br />

spring's Career Expo. Over 40<br />

employers from all over the tristate<br />

area were on hand for the<br />

annual event, sponsored by the<br />

<strong>College</strong>'s Career Services Center.<br />

According to the director of the<br />

center, Nancy Cintrón, about 30<br />

percent of the participants usually<br />

receive interviews.<br />

“This is a great opportunity<br />

for our students and alumni to<br />

network and learn about the different<br />

organizations that are out<br />

there,” she says. “The Expo is also<br />

a good source for students seeking<br />

internships.” ◆<br />

2004 graduate Hermes Guzman speaks<br />

to a U.S. Secret Service representative<br />

about employment possibilities. With a<br />

degree in accounting, he is looking for<br />

work in the business sector.<br />

Making a connection with the<br />

representative from the Social Security<br />

Administration is sociology major<br />

Monique Haley, who’s “looking for<br />

a company to jump start my career<br />

and give me a foot in the door.” Her<br />

long-term goal is to work in health care<br />

administration.<br />

5

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