Since 2021, a record number of small businesses have been created in Florida, and those businesses have received more than $2 billion in loans. Today, officials and legislators spoke with the owners of a Palm Beach County preschool about how that support has helped them succeed. Jerry Jarvis has that story. The U.S. Small Business Administration has helped countless businesses thrive in South Florida, including this preschool in Palm Springs, and it’s really been a partner for us. THIS WOULD NOT HAVE HAPPENED WITHOUT THEM AND WE WOULD NOT HAVE BEEN ABLE TO STAY AFLOATS WITHOUT THEM, TOO. YAKIV ZUBOV AND HIS WIFE RUN LEARNING WONDERLAND PRESCHOOL WHERE THEY MAKE SURE THAT THEY’RE GETTING THE EDUCATION AND CARE THEY NEED BEFORE THEY GO ON TO KINDERGARTEN. WE MET A GENTLEMAN WHO SUGGESTED GOING WITH AN SBA, AND WHEN WE DID THAT, WE REALIZED THAT, YOU KNOW, THERE WERE AVENUES THAT IT WAS A SUBSTANTIALLY LOWER DOWN PAYMENT AND WE COULD GO INTO AN ALREADY EXISTING LOCATION WHERE WE WOULD START GENERATING INCOME AND OPERATE A BUSINESS. ZUBOV SAYS THE SBA ALSO HELPED THEM OUT DURING THE PANDEMIC, WHEN CHILD CARE FACILITIES WERE PARTICULARLY HARD. THAT’S WHY CONGRESSWOMAN LOIS FRANKEL HOSTED A ROUNDTABLE AT THE SCHOOL ON FRIDAY, ALONG WITH SBA DEPUTY ADMINISTRATOR DYLAN GARCIA TO TALK ABOUT THE AGENCY’S IMPACT ON BUSINESSES IN SOUTH FLORIDA AND SOUTH FLORIDA HAS THE LARGEST AMOUNT (OVER HALF A MILLION) OF THESE LOANS HERE IN SOUTH FLORIDA, ALLOWING PEOPLE TO GET BACK ON THEIR FEET, GETTING THESE BUSINESSES UP AND RUNNING, AND GETTING A LOT OF JOBS CREATED. LAST YEAR, 2 BILLION LOANS WERE DISTRIBUTED TO SOUTH FLORIDA BUSINESS OWNERS. SAYYID SAYS THE BIGGEST INCREASE IS AMONG UNDERSERVED BLACK AND HISPANIC ENTREPRENEURS. YOU KNOW, THERE ARE AMAZING RESOURCES. WE HAVE AVAILABLE AT THE SBA LOANS, FUNDING, GOVERNMENT CONTRACTS, UH, COUNSELING, CHALLENGES, AWARENESS. A LOT OF PEOPLE DON’T KNOW THAT WE HAVE A LOCAL OFFICE HERE. WE HAVE LOCAL PARTNERS HERE. ZUBOV IS HAPPY TO SHARE HIS TESTIMONY SO THAT IT CAN HELP THE NEXT BUSINESS OWNER. WE’RE DOING VERY WELL. UH, THE TEACHERS ARE DOING WELL. THE KIDS ARE DOING WELL. AND, UH, BUSINESS IS SOLID. SO, UM, YOU KNOW, UM, LARGELY DUE TO THE SBA, WE HAVE MORE INFORMATION ABOUT HOW TO CONTACT THE SMALL BUSINESS ADMINISTRATION RIGHT NOW ON OUR WEBSITE, WPBF.COM.
Palm Springs Preschool Highlighted During U.S. Small Business Administration Visit
Updated: 18:32 EDT July 26, 2024
The U.S. Small Business Administration said it has seen a record number of small businesses created in Florida since 2021, with more than $2 billion in loans distributed in South Florida alone last year. Agency officials along with Congresswoman Lois Frankel spoke with the owners of a Palm Beach County preschool about how that support has helped them succeed. Stay up to date: The latest headlines and weather from WPBF 25 “The SBA, for us, has actually been a partner. You know, this wouldn’t have happened without them, and we wouldn’t have been able to stay afloat without them either,” said Yakov Shubov, owner of Learning Wonderland Preschool. Shubov and his wife own the preschool where they make sure young children get the education and care they need before they move on to kindergarten. “We met a gentleman who suggested going with the SBA, and when we did that, we realized that, you know, there were avenues that would substantially reduce the down payments. And we were able to go into an already existing location where we would start generating revenue and operating a business,” Shubov said. Shubov said the SBA also helped them during the pandemic when child care facilities were particularly hard hit. “South Florida has the most, over a half million of these loans here in South Florida. Getting people back on their feet, getting these businesses and creating a lot of jobs,” Frankel said. Your Neighborhood: WPBF 25 News Local Coverage Last year, $2 billion in loans was distributed to South Florida business owners. SBA Deputy Administrator Dilawar Syed said the biggest increase is among underserved, Black and Hispanic entrepreneurs. “You know, there are incredible resources that we have available at the SBA. Loans, financing, government contracts, counseling. The challenge is awareness. “A lot of people don’t know that we have a local office here. We have local partners here,” Syed said. Shubov is happy to share his testimony so that it can help the next business owner. “We’re doing great. The teachers are doing well. The kids are doing well and business is doing well. In large part, thanks to the SBA,” Shubov said. Top Headlines: Get the latest news updates with the WPBF 25 News app. You can download it here.
The U.S. Small Business Administration said it has seen a record number of small businesses created in Florida since 2021, with more than $2 billion in loans distributed in South Florida alone last year.
Agency officials along with Congresswoman Lois Frankel spoke with the owners of a Palm Beach County preschool about how that support has helped them succeed.
To be up to date: The latest headlines and weather from WPBF 25
“SBA has been a partner for us. This wouldn’t have happened without them and we wouldn’t have been able to stay afloat without them either,” said Yakov Shubov, owner of Learning Wonderland Preschool.
Shubov and his wife own a preschool where they ensure that young children receive the education and care they need before moving on to kindergarten.
“We met with a gentleman who suggested we take the SBA, and when we did, we realized there were options that would substantially reduce the down payments. And we were able to move into an existing location where we would begin generating revenue and operating a business,” Shubov said.
Shubov said the SBA also helped them during the pandemic, when child care facilities were particularly hard hit.
“South Florida has the largest number, over half a million of these loans here in South Florida. This helps people get back on their feet, get these businesses up and running, and create a lot of jobs,” Frankel said.
His neighborhood: WPBF 25 News Local Coverage
Last year, $2 billion in loans were distributed to South Florida business owners.
SBA Deputy Administrator Dilawar Syed said the biggest increase is among underserved, Black and Hispanic entrepreneurs.
“You know, we have incredible resources at our disposal at the SBA: loans, financing, government contracts, counseling. The challenge is awareness. A lot of people don’t know that we have a local office here. We have local partners here,” Syed said.
Shubov is happy to share his testimony so that it can help the next business owner.
“We’re doing very well. The teachers are doing well. The kids are doing well and business is doing well. You know, in large part thanks to the SBA,” Shubov said.
Main headlines:
Get the latest news updates with the WPBF 25 News app. You can download it here.