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Hello,
We've had two good storms now. Winter approaches, which is always a good time to review what's happening. As it turns out, the North Coast SBDC has had an eventful fall, as you'll see below. |
Grants & Programs
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Prosperity Network works together to provide another IDA Program
The NCSBDC, in partnership with the Arcata Economic Development Corporation and Consumer Credit Counseling Service, has secured four grants for the Prosperity IDA Scholarship Program.
The grant awards are generously provided by Wells Fargo ($10,000), the Melvin F. and Grace McLean Foundation ($7,500), Umpqua Bank ($2,500), and US Bank ($10,000).
Evelyn Giddings (left), Senior Vice President/Commercial Banking Manager at Umpqua Bank; Ross Welch (center), Executive Director, AEDC; and Carol Moorehead (right), Vice President/Commercial Lending at Umpqua Bank.
Chelsea Cough, an AmeriCorps VISTA serving with NCSBDC from the Redwood Community Action Agency (RCAA) collaborated with AEDC to secure the $30,000 in order to fund the Prosperity IDA Scholarship Program.
The IDA, or Individual Development Account Program, is a matched savings program designed to help participants start and/or expand their small business. Participants open a special savings account in order to save each month, which is typically targeted at $100 per month for one year, as well as participate in business training, provided by the NCSBDC and Consumer Credit Counseling Service.
As participants complete the program and meet their total savings goals, their savings are matched in order to purchase an asset for their business. For every $1 dollar that the business owner saves, it is matched with $2 through this IDA program. Matching funds are provided to the IDA program from private foundations, such as the ones listed above, and an Assets for Independence grant that AEDC received from the Department of Health and Human Services.
The collaboration between economic development agencies in the Prosperity Network make this program a reality for local low- to moderate-income business owners. "Organizations within the Prosperity Network work together seamlessly to provide opportunities for economic growth in our region, and this is a great example of that," Gregg Foster, President of the North Coast Small Business Resource Center commented.
The Prosperity IDA Scholarship Program has helped numerous small businesses throughout Humboldt County and has an excellent success rate. To date, twenty two participants have graduated from the program, purchasing nearly $69,000 in business assets.
The next IDA program is planned to begin in early 2010 and to be based in the Eel River Valley. More information will be added to our website at www.northcoastsbdc.org/flights as it becomes available.
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Workshops
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Jan - Feb 2010 Business Basics Schedule
Eureka
Financial Basics: January 5, February 2 Books and Records: January 6, February 4 Start Up Basics: January 13, February 10 Marketing Basics: January 26, February 23 Business Plan Basics: January 28, February 25  Sign-ups for 2010 are not yet enabled on our website. Please check back later.
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| News |
Earlier this month we sent out an invitation to complete a SBDC community survey.
Thanks to the wonderful response,
the North Coast SBDC has become the
leader in meeting the NorCal Region's
goal for each center's number
of completed surveys.
We appreciate your thoughtful responses!
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| People |
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Reweti Wiki has joined the North Coast Small Business Resoucrce Center Board of Directors
Reweti Wiki, a native New Zealander, has extensive experience in policy and public sector administration. Formerly with Accenture, Reweti specialized in corporate and public strategy working with a variety of government agencies including New Zealand's Ministry of Justice and the Singaporean Ministry of Education and Fortune 500 companies. Reweti also has significant experience in Indian Country having held Executive roles with the Yurok Tribe, California's largest nation, and has significant community development expertise. Reweti has a Bachelors of Commerce and Administration from Victoria University, Wellington. He is a budding entrepreneur having run a successful boutique consulting practice in New Zealand and having recently; assisted with the start-up of a building services and concierge company; and recently launched a self guided tours company that produces downloadable tours for iPods and other digital players.
Jennifer Budwig named 2009 Kiwanis Woman of Distinction
Jennifer Budwig is currently the Regional Manager for the Eel River Valley at Redwood Capital Bank and is a member of the SBDC's board of directors. She is active in numerous other community organizations, including the Redwood Regional Economic Development Commission Loan Committee, serves as a judge on the Economic Fuel Competition, member of the HSU Business Advisory Council, Humboldt County Fair Junior Livestock Auction Committee, Humboldt County Cattlewomen, Humboldt Chapter of the American Red Cross, McLean Foundation, a judge on the Young Entrepreneur Business Challenge and Fortuna Sunrise Rotary. Budwig also took a big part in the Supply our Students SOS Campaign over the Summer and continues the campaign to lure a Trader Joe's to Fortuna.
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| Events |
This month the Complementary Health care flight had it's first workshop to kick off the 10-month program. The participants were introduced the program and will be utilizing the workbook, Twelve Months to Your Ideal Private Practice, by Lynn Grodzki, throughout the program to foster learning and developing one's self as an individual provider of health-related services.
This brings us to spotlight the five flights we currently have running. They are:
- Landscape/muddy boots flight
- Microenterprise/Individual Development Account (IDA) savings flight
- Retail flight
- Child care flight
- Complementary health care flight
We also have six clients participating in custom or advanced flights.
Each month a different workshop is offered. We often utilize the knowledge and strength that many local business professionals provide in this region by contracting with them to present the workshops in their area of expertise.
Private counseling with our Business Advisors remains the core component of the flights. Special projects are also allowed as needed.
Thank you to all who have made this a success in providing quality intensive business development programs to more than 60 current flight clients.
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| Stat for this month. |
 Although the credit situation declined badly in the past two years, it is noteworthy that the number of CRA (Community Reinvestment Act) business loans under $100,000 increased from nearly 4 million in 2000 to more than 12 million in 2007, according to the Small Business Administration. |
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| We are conditioned to expect life to slow down in some ways this time of year. School takes a break, some offices close, eggnog makes people mellow. I'm happy to report, however, that things are busy here and we're riding some momentum into 2010.
Happy Holidays...we look forward to working with you in the New Year!
 Sincerely,
Kathrine Bridgwater
Small Business Development Analyst
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