Area Five Agency on Aging and Community Services

• Independent, not for profit agency governed by a volunteer board of directors

• Dedicated to assisting our clients in retaining their dignity and independence for over 28 years

• Provide over 25 programs to assist income-eligible individuals and families from newborns to senior citizens

• Healthy Families, Step Ahead, Family Development, Senior Employment, In-Home Services

• Comprehensive Programs. Each program compliments, enhances others

Small Business Incubator Program Started in 2000

Why Business Development?

• Strengthen economy in our communities• Cass County behind state average in small business formation • Small business development is often overlooked by local

economic development• Small business is where most jobs are created • Changing economy small business plays a critical role

 Funding

• Started with $60,000 for loan pool

Formed 3-person loan committee

• Technical assistance funds as well

• Other funding

• Program income

 With/Without Walls?

Without walls for now

Business owners need more than money

• Created a “Process”

• Education component/screening

• Mentoring

• Partnerships

Process for Start-ups

• Consultation

• Orientation

• 8-week class (feasibility and business plan)

• Business Plan

• Loan application

Process for Existing Businesses

• Class or Technical Assistance• Loan application • Business summary • Presentation to loan committee

Partnerships Business Solutions Group of Cass County

Economic Development Foundation (LEDF)

Chamber of Commerce

Area Five

Other PartnersCommunity

Organizations Business

Development Organizations: SBDC, SCORE

Chamber of

Commerce

Service Providers

(legal, financial)

Media

Business Owners

Lending Institutio

ns

Economic Development

Areafive

City

Special Projects

• SUCCEED

• Downtown Business Owners

• STARS

• Technology project

Outcomes

• $310,000 loaned to small businesses

• Average $1200.00 savings per client based on savings with lower interest rate

• 560 hours of technical assistance

directly to business owners