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Area Five Agency on Aging and Community Services

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

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Area Five Agency on Aging and Community Services

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  1. 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

  2. Small Business Incubator Program Started in 2000Why 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

  3.  Funding • Started with $60,000 for loan pool Formed 3-person loan committee • Technical assistance funds as well • Other funding • Program income

  4. With/Without Walls? Without walls for now

  5. Business owners need more than money • Created a “Process” • Education component/screening • Mentoring • Partnerships

  6. Process for Start-ups • Consultation • Orientation • 8-week class (feasibility and business plan) • Business Plan • Loan application

  7. Process for Existing Businesses • Class or Technical Assistance • Loan application • Business summary • Presentation to loan committee

  8. Partnerships Business Solutions Group of Cass County Economic Development Foundation (LEDF) Chamber of Commerce Area Five Commerce Chamber of Logansport/

  9. Other Partners Community Organizations Business Development Organizations: SBDC, SCORE Economic Development Chamber of Commerce Area five Lending Institutions City Service Providers (legal, financial) Business Owners Media

  10. Special Projects • SUCCEED • Downtown Business Owners • STARS • Technology project

  11. 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

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