First Connection Opportunity Entrepreneurship Program Presented by: Thomas Officer Sponsored by: GO Topeka, GO Connection, Department of Housing & Neighborhood Development, and the City of Topeka
Phases of the Micro Business Loan Application Process First Phase 1. Attend Orientation for Application meeting and Complete the Education Scholarship Preliminary Questionnaire 2. Schedule a meeting/meet with the Micro Loan Program Manager Second Phase 1. Schedule/attend/graduate from required Entrepreneur Classes 2. Turn in complete loan application with a $50 fee 3. Application reviewed by Loan Committee and is approved or denied Third Phase 1. Close on loan 2. Paired with a business Mentor 3. Open for business
Do you dream of OWNING YOUR OWN BUSINESS? Have you always wanted to BE YOUR OWN BOSS? First Connection Opportunity Entrepreneurship Program could be the answer to your dream. In order to qualify for services, you must: be a resident of Topeka and/or Shawnee County have a desire to start your own business or expand an existing business fill out short client intake form come to an orientation session
Entrepreneurial Training Program First Step FastTrac Training: First Step FastTrac training is a practical, hands-on education program created “by entrepreneurs for entrepreneurs.” Targeted Participants Cost Points of Interest Class Location Contact
“EXPLORING ENTREPRENEURSHIP” offered by Washburn University Small Business Development Center “EXPLORING ENTREPRENEURSHIP” Topeka Area Small Business Seminars -Introduction to Small Business Ownership- -Business Planning- -Keeping the Books- -Marketing for Profit-
What is First Step FastTrac? ENTREPRENEURSHIP TRAINING PROGRAM EXPLORING BUSINESS IDEA FEASIBILTY What is First Step FastTrac? First Step FastTrac is an education program created by entrepreneurs for entrepreneurs and is designed for entrepreneurs with low-to-moderate incomes who are starting or expanding a small business. By the time you finish the program, you’ll known whether your idea has “legs” and if starting a business is the right decision for you. Primer paso FastTrac Spanish version available.
Business Plan Outline 1. Cover Letter 3. Market Analysis 2. Products and Services 3. Market Analysis 4. Marketing Strategy 5. Management Plan 6. Financial Data
Micro Loan Parameters Loan Size Credit History Use of Loan Proceeds Fees Terms Collateral Who Qualifies? Credit History Loan Restrictions Businesses That Do Not Qualify Applicants Who Are Not Eligible
First Connection Opportunity Fund Preliminary Questionnaire
Number of Small Business Loans October 2002 to Present Loans…………………………44 Portfolio………………$939,780 Jobs……………………….…194
DBE Established Two Incubator Facilities Establish an Incubator Facility DBE Established Two Incubator Facilities Business Incubator at Townsite Plaza Retail Plaza at 29th & Cunningham
Step FastTrac Programs Number of First Step FastTrac Programs 2004 to Present Classes………………………..…13 Graduates……………………....190
Number of Orientation Sessions 2004 to Present Sessions…………….……....111 Participants……………….1,034
Number of Networking & Procurement Opportunities 2003 to Present Breakfast Events…………….....17 Attendance………………......1,100
Increase the Number of Jobs Created through Entrepreneurial Startups through Promotion of New Technology Deployment Programs.
Mentor Program
Mentor Training Mentor Services Evaluation of Mentors Mentor Training will be provided through a one half day training session for all staff that provides mentor services for micro-loan clients. Mentor Services Mentor Services will be provided to assist clients in their start up, emergent and growth phases of their business. Evaluation of Mentors Mentors will be evaluated on if systems are being out into place to improve the business, if the business is improving, and what the client says about the mentor’s assistance.
“One Stop” Economic Development Center Small, Minority & Women Business Development - 44 loans totaling $939,780 194 New and Retained Jobs Washburn University’s Kansas Small Business Development Center - 194 New Businesses - 2,421 Created and Saved Jobs - $47.85 Million in Financing (2002 to present)
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