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Local non-profit begins microloan program, area businesses stand to gain | Business

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Local non-profit begins microloan program, area businesses stand to gain
Business, News
Local non-profit begins microloan program, area businesses stand to gain

NEWS RELEASE:

LOCAL NON-PROFIT BEGINS MICROLOAN PROGRAM,

AREA BUSINESSES STAND TO GAIN

 

GRAND RAPIDS—December 17, 2010—Grand Rapids Opportunities for Women (GROW) recently secured funding to pilot a small-business microloan program, the goal of which is to provide loans ranging from $1,000 to $10,000 to qualified women who own and operate small businesses in greater Grand Rapids and surrounding areas.

Whether for computers, storefront improvements or additional capacity building, microloans provided by GROW can be used for any business asset. Entrepreneur Deborah Tacoma will invest her loan in a website redesign for Freedomwand.com, a Zeeland-based company that provides home health products for individuals with limitations or disabilities. Valerie Hudgins, owner of Partnership to Work, intends to purchase computer equipment and software which will make her job-training program function more efficiently. Both women anticipate taking full advantage of their microloan opportunities.

Funded by an anonymous donor, and the first of its kind in Grand Rapids in several years, the GROW microloan program is seeking applications from other qualified entrepreneurs with a need and interest in growing their business.

Businesses hoping to receive loans must be 100% women-owned and located in greater Grand Rapids. Interested entrepreneurs should write to nnicolas@growbusiness.org or call 616.458.3404 for more details.

Founded in 1989 as a non-profit economic development organization, Grand Rapids Opportunities for Women (GROW) provides all promising entrepreneurs, regardless of race, ethnicity, income, gender, age or education, with opportunities to develop the skills and acquire the knowledge they need to achieve economic independence through self-employment, primarily in the form of small business startups and expansion of small business. GROW is one of 108 designated Women Business Centers (WBC) in the United States and one of three in Michigan; the other two are in Ann Arbor and Benton Harbor.

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