1. EXPLORING THE FEASIBILITY OF A LOWCOUNTRY MICRO-FINANCE PROGRAM DR. LUKE PITTAWAY’S APRIL 21, 2009 “What Works for Enterprise Support in Rural Areas” (A systemic review of 52 studies on enterprise support) OBSERVATIONS:  Start-up Support – “Access to finance is an important element for a start-up programme.”  Support for Growing Small Businesses – “Funding for discreet projects is a major weakness of the current model”  Support for Deprived Areas – “Fragmented career histories cause problems in accessing finance and acquiring skills” RECOMMENDATION:  “Explore micro-finance schemes targeted at enterprise in deprived locations (either urban or rural). Ensure these are co-managed by community groups and professional organisations” THE LOWCOUNTRY SMALL BUSINESS COALITION PARTNERS MEETING TUESDAY – July 21, 2009 1

2. EXPLORING THE FEASIBILITY OF A LOWCOUNTRY MICRO-FINANCE PROGRAM HAPPENING IN SOUTH CAROLINA……… “GREENVILLE, S.C., July 8/PRNewswire/ -- Michelin North America today announced a new development program to provide loans to new and existing disadvantaged small- and medium-sized businesses located in the Upstate of South Carolina. Michelin will provide the initial funding amount of $1 million for the program. (Logon: http://www.newscom.com/cgi-bin/prnh/2004081/MICHELIN)http://www.newscom.com/cgi-bin/prnh/2004081/MICHELIN Michelin Development Upstate will focus on new job creation by facilitating low-interest loans, with rates as low as prime, to start-up- and medium-sized businesses throughout the region that are defined as disadvantaged by the Small Business Administration. In addition to lending financial support, Michelin Development Upstate will provide participating firms with free of charge access to Michelin’s considerable in-house business expertise.” THE LOWCOUNTRY SMALL BUSINESS COALITION PARTNERS MEETING TUESDAY – July 21, 2009 2

3. EXPLORING THE FEASIBILITY OF A LOWCOUNTRY MICRO-FINANCE PROGRAM “Lowcountry Business Incubator Needs Assessment Survey” Conducted by Cindy Petitt, New Directions Network Thirty-six members of 3 FastTrac® classes completed the survey. “Financial items” were assessed as being of HIGH IMPORTANCE by the noted % of respondents  Mentoring, Coaching and Networking  Venture Capital Forums 58%  Business Training  Obtaining/raising capital 69% THE LOWCOUNTRY SMALL BUSINESS COALITION PARTNERS MEETING TUESDAY – July 21, 2009 3

4. EXPLORING THE FEASIBILITY OF A LOWCOUNTRY MICRO-FINANCE PROGRAM “Lowcountry Business Incubator Needs Assessment Survey” Conducted by Cindy Petitt, New Directions Network Thirty-six members of 3 FastTrac® classes completed the survey. “Financial items” were assessed as being of HIGH IMPORTANCE by the noted % of respondents  Financial Assistance  Advice on how to reduce start-up costs 72%  Assistance with financing (bank loans, 64% angel and venture capital)  Assistance on researching favorable 69% financial resources (e.g., grants, loans, loan guarantee mechanisms) THE LOWCOUNTRY SMALL BUSINESS COALITION PARTNERS MEETING TUESDAY – July 21, 2009 4