Center Gives Entrepreneurs Tools for Success
Published Apr 17, 2008
Stacey Saggese of the Micro-Enterprise Development Center works with entrepreneurs to help turn good ideas into real products and services.
When “Big Mike” McCrea decided it was time to realize his dream of opening a restaurant, he turned to the Micro-Enterprise Development Center for help.
It was a good move.
Today, Big Mike’s BBQ sauce is sold in Colorado stores, and he and his rib-filled grill draw hungry crowds at area farmer’s markets and festivals. He’s not far from his restaurant dream becoming reality.
“He realized the value of the center,” says Ben Weeda, director of the Adams County Micro-Enterprise Development Center. “We gave him multiple loans to get him started, and then he took classes and participated in one-on-one consulting.”
McCrea isn’t the only entrepreneur who has found that a little help can go a long way toward launching a successful business. Over a recent 12-month period, the Adams County office worked with 225 clients, assisted 39 existing businesses and launched 18 new businesses, creating 61 new jobs in the process. Six loans totaling more than $86,000 were approved by the center’s review board.
“We help facilitate their own success,” Weeda says of the entrepreneurs. “Whatever stage they’re in, we give them assistance. A lot of them come in for money, while others stick around for the services. We take it on a case-by-case basis.”
Funding for the Adams County office, which is part of the Denver-based Micro-Business Development Corporation, comes from the local Office of Community Development, as well as donors and foundations.
Loans are offered up to $60,000 in three categories, and the flexible repayment plans have resulted in a 97 percent payback.
Story by Betsy Williams
Photo by Michael W. Bunch
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