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Opportunity and Hope 25 years Putting Dreams to Work.

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Presentation on theme: "Opportunity and Hope 25 years Putting Dreams to Work."— Presentation transcript:

1 Opportunity and Hope 25 years Putting Dreams to Work

2 Mission Quality Business Education Access to Capital Economic Self-Sufficiency We assist men and women!

3 Statewide economic development organization 501(c) 3; founded 1987 Offices in Milwaukee, Madison and Racine/Kenosha Local, Regional, National and International Partnerships Emphasis: women, low-wealth individuals, people of color Wisconsin Women’s Business Initiative Corporation (WWBIC)

4 Business Education Creative Financing Solutions One-on-One Business Assistance Networking Opportunities Business Incubation Business Laboratory via CWC Make Your Money Talk Financial Awareness & Individual Development Accounts (IDA’s) Business Consulting Services Access to Fair Financial Products WWBIC’s Primary Services

5 Entrepreneurship Today in the USA 10% are thinking about business ownership at any one time Women starting businesses at twice the rate of men 420,000 small businesses in Wisconsin in 2009 Wisconsin; 49% or more owned by women In Wisconsin, there are 153,000 WBE’s; of them: 4,000 bring in over $1,000,000 in revenue a year Wisconsin ranks 4 th in US in number of business incubators

6 Impact Lives on an Economic Basis Entrepreneurship Start-up and Expanding Business Increasing self-sufficiency

7 Business Creation is Job Creation Nearly 6 million jobs created by new startups in 2007 Over 34% created by women- owned firms 10% were employment owned jobs and 90%were entrepreneurial jobs.

8 Entrepreneurship as an Employment Option Utilizes existing skills & talents Satisfaction, success and personal ownership in self-employment “Patchwork” income It’s already working!

9 Microcredit-the market There are an estimated 500 million low-income entrepreneurs around the world About 5% have access to financial services… Time for change?

10 Key Indicators Business Experience Goals Skills Credit & Personal Finances Business Readiness Business Feasibility Drive & desire Willing to plan!

11 In 2011, WWBIC has served... 3375 unduplicated clients through training and counseling 1085 individuals who received one on one counseling totaling 9565 hours Financial Education - Awareness - Action 154 Graduates from the Make Your Money Talk Program 220 Active IDAs 1240 NEW Wisconsin SAVERS 2011 Business and Financial Education

12 WWBIC’s Microloan Details $1,000 - $100,000 loan maximum Generally follow SBA business eligibility guidelines Up to a 6 year term Rate driven by risk and/or the funding source requirement

13 We focus our assistance on: Business owners who can’t borrow from a traditional financial institution Start-up businesses Existing businesses poised for growth Gap financing for “bankable” customers Access to Capital

14 2011 Loan Impact Loan Performance ¤ 120 loans ¤ $3.8 Million approved ¤ $3.412 Million closed ¤ $3.0 Million disbursed

15 Please call with any questions. A member of the WWBIC Staff will be more than happy to assist you. How to Contact Us

16 Thank You


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