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Agenda - Economic Development Authority - 03/09/2017
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Agenda - Economic Development Authority - 03/09/2017
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3/17/2025 2:14:17 PM
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3/14/2017 11:00:51 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
03/09/2017
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OTB Financing: NA <br /> Other Financing: $1,000 Micro Grant <br /> Employment: 1 Fulltime <br /> Overview: Client wants to start an online woman's clothing boutique business. She is a single parent, working a <br /> fulltime job but wants to create additional income. I'm providing guidance to set up the business, write her <br /> business plan, etc. She is using the Micro Grant for fees associated with set up, purchasing some equipment, and <br /> clothing samples. <br /> Business Type: Commercial Interior Cleaning Business <br /> Location: Fridley Business and Resident <br /> Referred by: Found OTB on the Internet <br /> OTB Financing: NA <br /> Other Financing: $1,000 Micro Grant <br /> Employment: 1 Full-time <br /> Overview: Client is a single parent, homeschooling his son, and looking to create additional income with his <br /> business. He has experience in commercial cleaning and needed the Micro Grant to purchase supplies, repair his <br /> van, and purchase insurance to get established. <br /> Credit Builder Loans - Open To Business works in partnership with several non-profit organizations to offer the <br /> credit building program. Our partners provide financial counseling in conjunction with small personal loans from <br /> Open To Business. This combination of counseling with loans is helping program participants improve their credit <br /> scores. Better credit scores can mean lower interest rates on car and business loans, as well as, more affordable <br /> costs on insurance and housing. <br /> 1St Quarter 2016—Anoka County <br /> Open To Business provided 3 Credit Builder Loans for a total of $800 to Anoka County residents —all living in <br /> either Coon Rapids or Spring Lake Park. <br /> 2nd Quarter 2016—Anoka County <br /> Open To Business provided 2 Credit Builder Loans for a total of$480 to Anoka County residents —one living in <br /> Fridley and one living in Oakgrove. <br /> 3rd Quarter 2016 —Anoka County <br /> There were no Credit Builder Loans for Anoka County in 3rd Quarter. <br /> 4t" Quarter 2016—Anoka County <br /> Open To Business provided 1 Credit Builder Loan for a total of $240 to Anoka County residents —one living in <br /> Fridley. <br />
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