How Micro Loans Can Mean Macro Success
for Your Business
By Cheryl Antier
"Inch by inch, row by row...that's the way my garden grows" was a favorite
saying of my grandmother's -- usually when she was trying to teach me something
about patience!
While I never mastered the art of having patience, I have learned how
that saying can apply to creating a successful business.
If you've got big dreams for starting or growing your own business,
but you lack the start-up capital, technical assistance or training that
you need to succeed, then start by thinking...small. In fact, think smaller
than small! Think micro -- as in "microenterprise development programs".
What is a microenterprise development program? Basically, it's a government
sponsored or supported program that provides start-up or expansion capital,
technical assistance and training to microbusinesses. It's designed to
help entrepreneurs who don't have access to traditional means of credit.
Which means that if you're low-income, you've got bad or no credit, you
don't have enough collateral to apply for a business loan -- then you're
a good candidate for a microloan.
Need other help? How about training? Learning to write a business plan?
Want to go back to school? Need help understanding how to put together
a cash flow statement?
Most microenterprise development programs also offer training, workshops
and other assistance. If they don't offer it themselves, they'll be able
to refer you to a community organization that does, and guess what? The
help is often free, or offered for a very low cost!
What is a microenterprise? It is any business that can be started for
less than $35,000, has fewer than five employees and has an annual revenue
of less than $100,000.
What kind of businesses are eligible for microenterprise loans? Traditional
businesses such as:
*beauty parlors
*bakeries
*auto or small engine repair shops
*childcare facilities
*arts and craft sellers.
Nontraditional businesses such as:
*massage therapists
*event planners
*business, life and relationship coaches
*soap and essential oil manufacturers
*acupuncturists
If you want to start and run your business out of your home? You can.
If you're ready to move out of the basement and into your own building?
Microenterprise can help.
Where can you Find a Microenterprise Development Program in Your Community?
*Check out local nonprofit organizations such as the United Way, local
community colleges or Small Business Development Center
*Talk to a SCORE Counselor
*Visit your local Chamber of Commerce
*Contact your local women�s organization or other small business group
*Visit http://www.microenterprisesuccess.com for free resources, information
and helpful articles
Cheryl Antier is the President/CEO of Dream Weaver Enterprises, a business
and fundraising consulting company. She started MAPS (Microenterprise Answers
to your Personal Success) as a way to give something back to other women
for the blessings she's received in her life. http://www.microenterprisesuccess.com
offers information about government grants, microenterprises development
programs, training and resources. The information is broken down by state.
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