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Building Our Local Economy

Building Our Local Economy. 2011-2016 Goal Help 500 entrepreneurs grow their skills. Regional Impact 1,300 businesses have been started, stabilized or grown $15 million in loans to 400+ businesses $7.7 million in capital.

dennis-donovan
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Building Our Local Economy

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  1. Building Our Local Economy • 2011-2016 Goal • Help 500 entrepreneurs grow their skills. Regional Impact • 1,300 businesses have been started, stabilized or grown • $15 million in loans to 400+ businesses • $7.7 million in capital

  2. Closing the Skills GapTransforming the entrepreneur’s skills: Maximizing their potential Tier 1- Operator↓Tier 2- Manager↓Tier 3- CEO

  3. Starting A Business Be Clear: Thinking About Your Business Be Smart: Launch Your Business Start up Consulting

  4. Growth • “Have you been in business for +2 years and have a desire to grow? What’s stopping you?” • Be Strategic: Grow Your Business–Aitkin, Cloquet, Duluth, Grand Marais, Grand Rapids, Hibbing, I-Falls, & Two Harbors • Strategic Review and Recommendations (SRR) • Business Performance Coaching

  5. Small Business Financing • Offering • Business loans up to $150,000 with flexible terms • Start up, growth, working capital, equipment, etc. • Sole lender or in partnership with other lenders • Benefits • Flexible financing • Ongoing support from entrepreneurs • Business Lending Relationship

  6. Resources • U. S. Small Business Administration • Microloan Program • 7a Loan Guarantees • Women’s Business Center • USDA Rural Development • Intermediary Re-Lending Program (IRP) • CDFI Fund, US Department of the Treasury • Community Development Financial Institution(certified)

  7. ContactMary Mathews President & CEOEntrepreneur Fund202 W. Superior ST., Suite 311Duluth, MN 558802218-623-5724entrepreneurfund.orggreenstonegroup.org

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