Financing Tips for Veterans & #VetBiz Success in Small Business
When Dr. Win Somboonsong won Veteran-Owned Small Business of the Year for Eastern Pennsylvania, it was just the latest achievement in a fascinating journey to becoming a successful small business owner.
Somboonsong is the owner of Bella Azie, Inc., with restaurants including Teikoku in Newtown Square, PA and Azie Media in Media, PA. As a Seedcopa borrower, he was able to expand his restaurant group, which won him the Small Business of the Year award in 2017. But his success story starts years before.
Somboonsong completed his education by earning a Ph.D. in structural engineering at Drexel University while assigned to the Philadelphia Navy Yard and Willow Grove Joint Air Base.
Leaving the U.S. Navy as a Lieutenant (O-3), Somboonsong entered private business as a structural engineer specializing in design/renovation of large suspension bridges, including the renovation of Philadelphia’s Benjamin Franklin Bridge.
He left engineering and entered the restaurant business in order to better support his family. Working closely with his spouse, Sutilda Somboonsong, he opened Teikoku restaurant with the aid of an SBA 504 Loan issued through Seedcopa, an affiliate of the Chester County Economic Development Council.
If you’re transitioning out of the military and interested in starting your own business, consider this: Thanks to the perseverance, adaptability and determination you gained during active duty, you already have the skills needed to become an entrepreneur. In addition, Seedcopa works with the SBA and its low-interest loan programs to make special consideration for veterans.