Oct. 23, 2005
Classes on Writing Business Plan for SBA PRIME Loans Offered in Hinton
Beginning Oct. 28
By HNN Staff
Hinton, WV (HNN) – In 1953, Congress created the Small Business
Administration (SBA), whose function is to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." This was done because small
businesses keep intact our nation’s heritage of ingenuity and enterprise,
and help keep the "American Dream" within the reach of millions of
Americans. Nearly 20 million small businesses have received direct or
indirect help from SBA programs since its conception.
SBA’s Program for Investment in Microentrepreneurs (PRIME) specifically
provides federal funds to community-based, regional, and national
organizations that offer training and technical assistance to entrepreneurs
with small businesses of five employees or less. As a local SBA service
provider, Lightstone Community Development Corporation (LCDC) continues to
focus on individuals seeking to operate their own businesses in our local
communities. Through partnerships with microenterprise development
organizations (MDOs) such as the Greenbrier Valley Economic Development
Corporation (GVEDC) and private funders such as the ONE Foundation,
Lightstone is able to leverage its resources to better serve the small
business client in PRIME counties.
The program facilitates the delivery of CORE FOUR business planning courses
to assist local small business entrepreneurs in developing a business plan
and learning what it takes to start and run a successful business. It also
aids clients with obtaining loans from a variety of sources and providing
ongoing technical assistance including post-loan accounting assistance for
qualifying individuals. Cost for the program is only $40 for text and
materials.
Classes will be held on four consecutive Fridays beginning October 28th from
7 to 10 pm at the Campbell-Flannagan-Murrell House Museum in Hinton. Anyone
interested in more information on the available services or to participate
in the 12-hour “Writing a Business Plan” course can call (304) 645-7155 or
email Gregg at gwingo@usa.net.
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Lightstone Community Development Corporation (LCDC), based in Sugar Grove
WV, enhances the social, economic, and environmental viability of rural
mountain communities of West Virginia and Virginia by supporting sustainable
enterprises. LCDC is one of three community development financial
institutions (CDFI's) certified in West Virginia and the only CDFI in West
Virginia focusing on small business lending. Additionally, Lightstone
provides access to funds through its SBA and SBDC loan programs, and blends
loans with other community partner organizations to provide wider access for
people who do not have access to traditional lending capital. For more
information on LCDC call Norma Jean Propst at (304) 249-5200 or on the web
at www.lightstone.org.
LCDC has achieved national visibility and credibility with its
Welfare-to-Microenterprise program, demonstrating its effectiveness in
creating statewide and local partners to achieve policy and financial
infrastructure innovations to enable low-income individuals to transition
from welfare to self-employment. The Appalachian Regional Commission, the
Governor of West Virginia, and the WV Welfare Reform Coalition have
recognized LCDC's success in this area.
LCDC's typical customer has no access to traditional lending institutions,
has a troubled credit past including some with bankruptcies and marginal
collateral. They often have multiple employment histories and /or employment
histories with multiple layoffs from the same job because of the seasonal
nature of the work. In order to learn about their loan assistance programs
contact Norma Jean Propst at (304) 249-5200 or njpropst@lightstone.org.
The ONE Foundation provides more than just invaluable financial support for
this collaborative, community initiative. The organization takes a
“wholistic” approach to community development, fostering the belief that a
community is more than the sum of its parts. To be whole, a community must
balance its economic, social, ecological, cultural and spiritual components
allowing for a healthy, thriving, and natural place to nurture and grow its
families. By isolating and inflating only one component, many organizations
actually harm the very communities they are trying to help. The ONE
Foundation will be instrumental in the development of this program.
The ONE Foundation is the public face of the Attar family's philanthropy.
Marz Attar, although a successful businessman, has spent his life supporting
programs that foster the healthy evolution of humanity. This desire for
change has manifested in the support of local and international programs
such as alternative media, community development, education, arts and
culture, publications, social services as well as spiritual and
peace-centered initiatives. Presently, the ONE Foundation is working with
several local and international organizations.
* * *
The Greenbrier Valley Economic Development Corporation (GVEDC) assists the
needs of the business community of Greenbrier, Monroe, and Pocahontas
counties of West Virginia. It provides a variety of services to new and
existing businesses such as business financing, general and technical
assistance, site selection, and training for the WV workforce. The GVEDC
offers access to the following financing programs to qualified applicants:
Micro Revolving Loan Fund, Intermediary Relending Loans, Small Business
Administration (SBA) Loans, and US Department of Agriculture (USDA) Rural
Development Loans. Loan amounts begin at $1000. The GVEDC is located at 810
N. Jefferson St., Suite 103 just north of downtown Lewisburg. Financing
information is located on the web at www.gvedc.com or by phone at (304) 645-7155.