One of the programs that made it possible for him to launch was the Small Business Administration 7(a) loan program. This program is administered through banks, but is backed by the Federal Government. The Feds basically co-sign the loan with qualified entrepreneurs. It's like having a rich uncle, except in this case it's Uncle Sam. This program helps with the problem that most entrepreneurs have when starting: No capital and no collateral.
Things are going well at Collegetown Cab and it looks like the bank will get repaid. Paul's working long hours, and even drives a cab sometimes, but he's learning a lot about the business. Give him a hand by calling 607-588-8888 the next time you're in Ithaca and need a ride.