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1 From Agriculture and Child Care to Ethnic Restaurants and Taxis: A Review of the Past 10 Years and a Sneak Peek Ahead * Creating opportunities * Transforming.

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Presentation on theme: "1 From Agriculture and Child Care to Ethnic Restaurants and Taxis: A Review of the Past 10 Years and a Sneak Peek Ahead * Creating opportunities * Transforming."— Presentation transcript:

1 1 From Agriculture and Child Care to Ethnic Restaurants and Taxis: A Review of the Past 10 Years and a Sneak Peek Ahead * Creating opportunities * Transforming lives * Expanding markets

2 2 Microenterprise Development Program of Mountain States Group, Inc. * Nonprofit provider of direct and supportive small business assistance * New Americans, minorities, women and other underserved entrepreneurs * Southwest and South-Central Idaho Ada, Canyon, Elmore, Gem, and Payette Counties Who is META?

3 3 What does META provide? * Access to capital $500-$15,000 microloans * Confidential, one-on-one business counseling * Business plan training and workshops * Access to business resources

4 4 Need for microenterprise support services * Disadvantaged entrepreneurs are often overlooked by business support services * Microenterprises account for 88% of all businesses and 20.4% of all employment in Idaho * In Ada County alone, over 32,000 microenterprises employ 43,000 people

5 5 Need for microloans Need for microloans * Disadvantaged entrepreneurs have trouble getting business loans * They may borrow from payday and title loan companies with interest of 300% * META—filling the gap.

6 6 Low-cost to clients Low-cost to clients * $60 annual client fee * $247 business planning course ($60 discount if already a client) * Low-cost closing fees upon loan approval

7 7 Primary client base * Language, social, cultural, or economic barriers * Start-up entrepreneur in business < two years Small business ownership unleashes the entrepreneurial potential of our clients and gives them hope and self-determination

8 Economic Independence Economic Independence Helps the entrepreneur * Build net worth * Increase household income and self-esteem Benefits the community * Increased tax base and home ownership * Increased economic development/job creation Successful small businesses are the primary engines of economic development, income growth, and poverty reduction in America.

9 9 Accomplishments Helped nearly 800 business clients in Idaho since Oct. 2002. Recently closed on its 203rd loan. Statistics for ten years since 2002— * 195 new start-ups * 315 stabilized or expanded * 296 new jobs created * 203 loans valued at $922,266

10 10 Accomplishments Past 12 mo. performance (FY ’12)— Past 12 mo. performance (FY ’12)— * 68 new start-ups * 65 stabilized or expanded * 118 new jobs created * 38 loans valued at $137,856

11 11 Exploring New Markets June 2009 Pew Charitable Trust report * Idaho had fastest growth for green jobs in the U.S. between 1998-2007 (126% vs 14% all sectors) between 1998-2007 (126% vs 14% all sectors) May 2011 Idaho Dept. of Labor report * Idaho economy has one of highest concentrations of jobs in nation with environmental focus of jobs in nation with environmental focus * Idaho has one of highest potentials for growth in green jobs in green jobs

12 12 Developing New Markets Growing Green Businesses Initiative FY ‘11 * 8 new business starts * 21 new jobs created * 7 loans totaling $26,000 GGBI FY ‘12 to date * 9 new business starts * 18 new jobs created * 6 loans totaling $23,650

13 13 Exploring New Markets New Immigrants New Opportunities () New Immigrants New Opportunities (NIÑO) * Help Idaho refugees become economically self-sufficient through home-based child care businesses through home-based child care businesses * Develop culturally relevant child care options for working refugee families working refugee families * Funded October 2011

14 14 Developing New Markets through funding to date NIÑO through funding to date * 45 participants enrolled * 21 people fully licensed by City of Boise or State * 58 children in care * 35 parents working * 143 home visits completed

15 15 Exploring New Markets Women’s Business Center * No other WBC in Idaho * 110 Centers around country * Funded in part by SBA grant * Opened in January 2012 Why a Women’s Business Center in 2012 * Foster women’s business ownership * Eliminate barriers to success

16 16 Developing New Markets WBC FY ’12 to date * 17 new business starts * 32 new jobs created * 126 clients counseled * 68 people trained * $18,500 in META loans

17 Contact Us META 208.336-5533 ext.230 www.metaidaho.orgWBC 208.336.6722 ext.349 www.wbcidaho.org


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