LL Spring05.indd - Lehman College
LL Spring05.indd - Lehman College
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 />
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