The recognition program is designed to honor high performing, second-stage businesses that are privately held and have been in business for three or more years. Companies that meet the following minimum qualifications are encouraged to apply:

• Employ six or more full-time equivalent employees, including the owner
• Sales meeting or exceeding $500,000.00
• Demonstrate the intent and capacity to grow based on evidence, such as:
• Employee or sales growth
• Exceptional entrepreneurial leadership
• Sustainable competitive advantage
• Other notable factors that showcase the company’s success

Nomination forms are available and may be submitted online at http://ksbdc.org/nominate/. Any third party who is associated with a successful second-stage business is encouraged to submit a nomination form. Additionally, self nominations are accepted. All nominations are due by February 17, 2012. Winners will be recognized in front of government leaders and small business owners at the Kentucky Celebrates Small Business event being held in May 2012. Winners will receive a promotional DVD highlighting their business, an award inscribed with their company’s name, a profile of their company in a commemorative program, use of the official Pacesetter’s logo, customized media releases announcing the award and an invitation to an exclusive luncheon.

Eight successful businesses located throughout Kentucky were inducted as 2011 Pacesetters. These honorees are: Capital Cellars, DMD Data Systems, Earl G. Dumplin’s, EHI Consultants, Fast Process Service, Geothermal Supply Company, Puzzle’s Fun Dome, and Shelby Industries.

The Kentucky Small Business Development Center is a network of 15 service centers located throughout the commonwealth that help existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. These services include: no-cost confidential business consultations, affordable business workshops and seminars, research to make informed business decisions and valuable resources.

The Lexington Minority and Women Contractor Training Program is in its second year. It is a 10-week program that covers topics ranging from estimating and bidding to subcontracting. It will again be held at the Lexington-Fayette Urban County Government Center, 200 East Main Street.

The program teaches skills that will help minority and women-owned businesses and is sponsored by the Kentucky Small Business Development Center, Bluegrass Airport, Messer Construction Co., BEX Construction, the Fayette County Public Schools and the Lexington-Fayette Urban County Government. A new sponsor, the University of Kentucky Facilities Management, has been added.

“These partnerships have reignited this program and we are definitely seeing results. We have seen a number of last year’s participants get contracts as a direct result of them attending the workshops,” said Dee Dee Harbut, director for special programs with the Kentucky Small Business Development Center.

The program is coordinated by Marilyn Clark, the LFUCG’s minority business enterprise liaison. Classes will be held from 5:30-8:30 p.m. Tuesdays. To qualify, you must be a minority or woman-owned business with a 51 percent ownership in the construction or construction-related industry. The cost is $100 for companies accepted into the program. A boxed dinner is provided each night.

The benefits from the classes continue after the program concludes, Clark said. “At the end of the program, we met with participants to assess their needs. Based on their responses, we decided as a group to extend our relationship with each business over the course of this year. We meet quarterly to assist them with more education and work diligently to connect them with opportunities. It is rewarding to hear about business they have landed as a result,” Clark said.

For more information, contact Marilyn Clark at 859-258-3323 or Dee Dee Harbut at at 859-257-7668.

Download the application for admission.

As their invention took shape, Bender and Bell formed a company, Four Water LLC. In search of startup guidance, Bender and Bell turned to Carol Cornell, director of the SBDC at Northern Kentucky University, for financial instruction, price modeling and general startup support. In March 2008, Four Water LLC incorporated and in June they filed a registered trademark and patent.

A friend put us in touch with Carol at the NKU SBDC. We found the services so valuable that we were meeting with Carol on a near weekly basis. The SBDC assistance we have received was absolutely critical to our growth.

- Mitzi Bender, co-owner

Four Water LLC sold their first 500 rain barrels to the city of Lexington, which promptly sold out in just 24 hours. In 2009, the city of Lexington continued to support Four Water LLC and designed a special rain barrel mascot, Lily, to join the city’s other household waste, lawn waste and recycling mascots.

Bender and Bell have put particular emphasis on making sure Four Water LLC creates green jobs in Kentucky while producing a sustainable product. Today, their rain barrels are produced at a plant and fulfillment center in Mt. Sterline, Kentucky.

The company is currently providing 14 cities with rain barrels and has plans to continue growing the “raintainer” line as well as expanding into other product offerings.

GES was founded in 2008 by Kenny Gravitt and Paul Haddix. Gravitt and Haddix sought to build a company that recycled electronics properly, doing no harm to the environment or communities around the world.

The recession impacted GES immediately after the company opened its doors for business. In a matter of months GES was facing revenue streams that were less than a quarter of initial financial predictions. “The entire commodity market crashed and left us in the wake,” Gravitt said. “We struggled for a really long time before finding ourselves in front of Gordon Garrett and Shirie Hawkins with the SBDC.”

Hawkins and Garrett helped GES seek funding by preparing pro-forma projections that were later presented to national and local lenders, and a private investor. Three separate funding offers were made, and all fell through. “At this point, I viewed GES as a distressed business and we began embarking on a process that would help get their business house in order,” Garrett said.

Garrett and Hawkins started by focusing on the operational aspects of GES to make the business more efficient. Once operational assets were in check, Hawkins turned their attention to GES’s cost accounting. “At the time GES had 70-80 contracts with electronics firms that had electronic equipment to dispose of,” Garrett said. “GES’s accounting systems were not designed to track profitability by contract, client or even by type of electronic gear sold or recycled.”

The weeks and months that followed brought great change to GES.

Gordon and Shirie came in and taught us how to change our processes in order to stop the hemorrhaging. These were tough conversations that were not always pleasant to have, but they were factual, to the point and, ultimately, saved this company.

- Kenny Gravitt, co-founder

Today, GES is profitable, poised to double revenue in 2011 and ranked in the top 10 of electronics recyclers in the nation.

What started with only four employees has now grown to more than 60 employees. “I am very proud that we have created 60 new jobs in Kentucky,” Gravitt said. “In addition, our employees have the opportunity to build new, technical skills while working here, something that is tremendously important in today’s world.”

Together the Kennedy’s and the SBDC developed a business plan, met with local bankers and representatives of the franchise, and prepared a SBA loan package. The couple was later awarded a SBA 7A loan for $488,500 and injected $80,000 of their own money into the project.

On September 13, 2010 the Kennedy’s proudly opened Buffalo Wings and Rings and set franchise records for total sales for opening day and opening week of the franchise.

In addition to bringing good wings to the area, the Kennedy’s business venture has added approximately 45 new jobs to the local economy. There are plans to add an additional five in the coming months.

I am very appreciative of all the help we received from Roy Keller of the Hopkinsville SBDC. They were able to help with the 7A loan when the banker was not. Thanks to the SBDC we are now open for business.

- Karen Kennedy, co-owner

Despite paying extra each month on past-due accounts, Treats Pet Resort could not climb out of the hole, and in 2010 banks began threatening foreclosure.

As a last-ditch attempt to save their business, the Halbleibs contacted the Louisville SBDC and requested assistance. Under the SBDC’s expert guidance, Treats Pet Resort began using the SBDC’s cash flow tool and meet- ing with consultants on a weekly basis. SBDC consultants also used Profit Cents, South Dakota software and RMA Annual Statement Studies to develop a budget, find opportunities for financial improvement and identify industry benchmarks for the client.

Within 30 days, the Halbleibs were able to contact the federal, state and local tax authorities and work out pay- ment plans. The Halbleibs also chose to cut payroll expenses and increase prices on boarding by 10 percent. Treats Pet Resort did not lose one customer from this increase and the additional revenue and expense reductions allowed them to pay down other past-due bills. As of September 2010, the Halbleibs are caught up with nearly all past-due bills.

The dedication the SBDC gave in meeting with us every single week for nearly a year was awesome. Honestly, if it were not for the SBDC I don’t think we would still be open for business. The SBDC was the best tool that we have used since we opened three years ago.

- Mike Halbleib, owner

In addition to debt management assistance, the SBDC also helped Treats Pet Resort implement a new marketing plan that has further increased revenue while keeping expenses in check. Today the Halbleibs continue to work closely with the Louisville SBDC and expect to pay off nearly all debts by June 30, 2011.

For the next six years Bates worked on building his dream home atop a hill overlooking the Red Lick Valley near Berea.

Now completed, the building features contemporary architecture and was constructed using Leadership in Energy and Environmental Design (LEED) criteria and in- novations. The home is a certified five-star energy home with geothermal heating and cooling and extensive use of day-lighting. Both natural and recycled materials from local suppliers were used whenever possible.

Once the home was completed Bates began exploring what was next on his retirement agenda. Intrigued by the concept of “green lodging,” Bates decided to share his home with others by opening a bed and breakfast. Bates worked closely with Michael Rodriguez and the Eastern Kentucky University SBDC to develop a business plan and identify what other steps had to be taken prior to opening. Bates also attended several training courses offered by the SBDC.

The Pinnacle View Inn would not have been possible without the extensive assistance of the EKU Small Business Development Center. I faced many technical problems along the way that were critical to my success. The EKU SBDC was a wonderful resource.

- Dr. Ira Bates, Owner

In May, 2010, The Pinnacle View Inn opened its doors. Today the inn provides a unique alternative to local area hotels with its eco-friendly setting and gourmet-style breakfasts. According to TripAdvisor.com’s reviewer data, the inn has garnered top billing as the highest rated place to stay in Madison County.

Initially, the referral practice operated out of a remodeled 800 square foot section of Sheabel Animal Medical Center. As a referral-based business, general veterinary practitioners refer patients to the practice. Patient follow-up care is coordinated with the referring veterinarian and all general care continues to be provided by the primary referring veterinarian.

The practice quickly outgrew its space. In January 2008, Dr. Radhakrishnan approached the Bluegrass Small Business Development Center for assistance in developing a business plan and financial projections for the business expansion. Ultimately a loan package was created that was submitted to Commerce Lexington’s Access Loan Program.

Through the assistance of the Access Loan Program, Dr. Radhakrishnan was connected with local lenders. The professional and experienced staff of the SBDC enabled Dr. Radhakrishnan to create a complete, customized, and ultimately successful business proposal. The Access Loan Program simplified and expedited the ordinarily inefficient, time-consuming “loan shopping” process by providing a “one-stop loan shop” opportunity for Dr. Radhakrishnan to present his proposal to multiple lenders at one sitting. In the fast paced world of business, the SBDC and Access Loan Program provided Dr. Radhakrishnan with invaluable guidance and time management opportunities.

Today, Bluegrass Veterinary Specialists operates out of a 3,600 square foot hospital located at 1591 Winchester Road, Suite 106. The focus of the practice continues to be individualized, progressive care with an emphasis on minimally invasive diagnostics and procedures. Internal medicine services include evaluation of any and all internal organ systems, oncology evaluation and treatment, endoscopy, rhinoscopy, bronchoscopy, cystoscopy, laparoscopy, stent placement, and laser ablation. The hospital provides 24-hour care for all of its hospitalized patients. The hospital also offers board- certified specialty veterinary care in surgery and dermatology and will be offering I-131 treatments for hyperthyroid cats in the next few months.

The Kentucky Small Business Credit Initiative involves three new small business programs implemented by the Kentucky Cabinet for Economic Development to facilitate increased private lending to Kentucky’s small businesses. The programs include: the Kentucky Capital Access Program; the Kentucky Collateral Support Program; and the Kentucky Loan Participation Program.

Gov. Beshear announced the initiative at the Coldstream Center, part of the University of Kentucky’s Coldstream Research Campus, in Lexington with lawmakers, business leaders and United States Treasurer Rosie Rios. The Coldstream Center houses 25 small businesses with more than 300 employees. Several of these businesses are recipients of federal small business grants.

“This program is great news for the Commonwealth and another critical step in the right direction toward improving the Kentucky economy,” Gov. Beshear said. “We want all of our families working, and we know small businesses are incubators for new jobs in our state.  The small business credit initiative gives these small businesses an easier path to create those new positions. Economic development officials and business leaders deserve credit for working closely to establish the overall program.”

The increased access to capital stems from the state’s successful application for $15,487,998 in federal funds from the U.S. Department of Treasury through the State Small Business Credit Initiative (SSBCI). The funds, which will be leveraged 10-1 with private lender funds to generate almost $155 million, are part of the Small Business Jobs Act of 2010 passed in September 2010.

Under the Small Business Jobs Act, Kentucky can access $15.5 million in SSBCI funds. Kentucky expects to generate a minimum “bang for the buck” of at least $10 in new private lending for every $1 in federal funding. As such, this $15.5 million allocation for Kentucky is expected to support nearly $155 million in new private lending to small businesses in that state.

Economic Development Cabinet Secretary Larry Hayes filed the application on behalf of the Commonwealth. In planning the program, cabinet staff consulted with private lenders of all sizes, public-policy makers, Kentucky small business organizations, U.S. Department of Treasury officials and other states’ economic development officials.

“Based on our research of other states’ existing credit support programs and Kentucky’s small business programs, we anticipate these new programs will offer the broadest solution to the current credit issues facing Kentucky small business owners and entrepreneurs,” Hayes said.

The Kentucky Economic Development Finance Authority (KEDFA), a board established within the cabinet, has been designated to accept the $15.5 in funds and administer the new credit support programs.

“As one of the largest Kentucky-based community banks and a leading lender to small businesses, we are confident that the SSBCI programs will provide much needed capital to ensure continued growth opportunities for home grown businesses that play such an important role in communities throughout the Commonwealth,” said Steve Trager, chairman and CEO of Republic Bank.

“Kentucky Highlands Investment Corporation has worked closely with the cabinet for economic development on numerous projects to help attract, start and expand businesses,” said Jerry Rickett, president and CEO of Kentucky Highlands Investment Corporation. “These three credit enhancement programs developed within the Kentucky Small Business Credit Initiative are sure to improve many entrepreneurs’ ability to access funding, grow their operations and hire workers.  We fully support the Kentucky SSBCI programs and applaud the governor and the cabinet for economic development for their hard work in applying for these funds.”

“The Kentucky Small Business Development Center works side by side with entrepreneurs across our Commonwealth and understands the challenges that they are having when it comes to acquiring the funding necessary to grow operations and hire workers,” said Becky Naugle, state director of the Kentucky Small Business Development Center. “With that in mind, we look forward to working closely with the cabinet for economic development and are very pleased to support the new credit enhancement programs developed within its Kentucky Small Business Credit Initiative.”

“These funds will provide a powerful spark for investment, growth, and job creation in Kentucky,” Treasurer Rios said. “This initiative will help ensure that more Main Street small businesses have access to the loans they need to expand, invest, and hire in their local communities.”

Program Part of Continued Effort to Support Small Businesses
The initiative is the latest of several recent small business programs implemented by Gov. Beshear’s administration. In January 2011, KEDFA began accepting applications through the Kentucky Small Business Investment Tax Credit program, part of the Governor’s 2009 INK legislation.  Additionally, the Governor’s Kentucky Export Initiative, launched in late 2010, is helping to increase exporting activity among Kentucky small and medium-sized businesses. Gov. Beshear also recently launched Kentucky’s first Minority and Women Business Enterprise Certification Program, as well as unveiled a specialty license plate promoting Kentucky small business.

The One-Stop Business Portal is also in development, which will provide small businesses with one resource for starting and running a business in the Commonwealth.  In order to make all of these programs effective, the governor has tasked the cabinet to partner with private and public sector small business assistance agencies across the Commonwealth to assure a consistent and comprehensive network that will meet small business needs.

“We must continue to look for ways to encourage the growth and stability of small business,” said Sen. Alice Forgy Kerr, of Lexington. “I know small businesses are the lifeblood of Kentucky. By strengthening them, we can keep jobs in Kentucky and recruit more jobs to our state.”
“Gov. Beshear is working hard to guide Kentucky through these tough economic times,” said Rep. Ruth Ann Palumbo, of Lexington. “These monies will provide millions of dollars for small businesses to create new jobs in our Commonwealth.”

“As a longtime advocate for small business, I can see this initiative helping to create jobs all over Kentucky,” said Rep. Tanya Pullin, of South Shore. “This announcement could not come at a better time for small business. I want to thank U.S. Treasurer Rosie Rios, Gov. Beshear and the Kentucky Cabinet for Economic Development for their attention to small businesses. Today’s announcement will long be remembered as a high point for small business job creation.”

For further information about the State Small Business Credit Initiative, visit http://www.ustreas.gov/offices/domestic-finance/ssbci/.

Winners are selected based on their intent and capacity to add employees, grow sales, and develop innovative products along with their contributions to the community and commitment to their employees.