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Creating opportunities Transforming lives Expanding markets

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. Who is META?. Microenterprise Development Program of Mountain States Group, Inc.

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Creating opportunities Transforming lives Expanding markets

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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 lives • Expanding markets

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

  3. What does META provide? • Access to capital$500-$15,000 microloans • Confidential, one-on-onebusiness counseling • Business plan trainingand workshops • Access to business resources

  4. Need for microenterprisesupport 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. Need for microloans • Disadvantaged entrepreneurs havetrouble getting business loans • They may borrow from paydayand title loan companieswith interest of 300% • META—filling the gap.

  6. 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. Primary client base • Language, social, cultural,or economic barriers • Start-up entrepreneurinbusiness < two years Small business ownership unleashes theentrepreneurial potential of our clients andgives them hope and self-determination

  8. 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. Accomplishments Helped nearly 800 business clientsin 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. Accomplishments 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. 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) May 2011 Idaho Dept. of Labor report • Idaho economy has one of highest concentrations of jobs in nation with environmental focus • Idaho has one of highest potentials for growth in green jobs

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

  14. Developing New Markets NIÑOthrough 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. 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. 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.org WBC 208.336.6722 ext.349 www.wbcidaho.org

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