Wisconsin Women

1
Wisconsin Womens Business Initiative
Corporation
March, 2005 Sherry Saiki West Allis Program
Director Loan Officer
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Wisconsin Womens Business Initiative Corporation

• Statewide economic development organization
• 501(c) 3 founded 1987
• Offices in Milwaukee and Madison
• Local, Regional, National and International
  Partnerships
• Emphasis women, low-income individuals, people
  of color

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Mission
Quality business education Technical
assistance Access to capital We assist
men and women!
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Economic Impact

• Entrepreneurship
• Start-up and Expanding Business Guidance
• Increasing self-sufficiency
• Full-time Business Ownership and/or Patchwork
  Approach

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2004 Impact
Loan Performance 58 loans 1,420,500
approved 24,500 average loan size
Loan Client Demographics (Through June,
2004) 78 women owned businesses 59 minority
owned businesses
Training Performance 369 workshops 1754
participants
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WWBICsPrimary Services

• Business Education Workshops
• Creative Financing Solutions
• One-on-One Assistance
• Networking Opportunities
• Business Laboratory
• Economic Literacy Individual Development
  Accounts (IDAs)

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Business Education Workshops

• 350 Workshops Annually
• Milwaukee, Madison, Green Bay, Fox Valley,
  Beloit, Janesville, Racine, Kenosha areas other
  
• Entrepreneurship, business planning, marketing,
  financing, bookkeeping
• Experiential, hands-on, guest experts

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Creative Financing Solutions

• Certified CDFI
• (Community Development Financial
  Institution)
• Direct Lending Programs
• Microloans
• Gap Financing
• Loan Packaging Services
• SBA Prequalification Program
• Business Financing Seminars
• Can We Talk? Sessions
• Business Assistance Referral

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Access to Capital

• We focus our assistance on
• Business owners that cant borrow
• from a traditional financial institution
• Start-up businesses
• Gap financing for bankable customers

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Micro Loan Details

• 50,000 loan maximum
• Follow SBA business eligibility
  standards
• 8 13.5 interest rate
• Up to a 6 year term
• 100 loan fee and closing costs
• Loan proceeds cannot be
• used for debt refinance or
• real estate purchase

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Loan Process

• Completed loan application with attachments
• 50 application fee
• Preliminary review ( 5 7 day turnaround)
• Experience
• Credit
• Viability
• Complete review (2 6 week turnaround)
• Access to technical assistance programs

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One-on-One Assistance

• Business Consulting
• Networking Opportunities
• Business Mentoring

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Special Initiatives

• Business Laboratory
• Coffee with a Conscience
• Coffee House two locations
• Experiential Training Opportunity
• Showcase clients
• Economic Literacy Series
• Make Your Money Talk
• Individual Development Accounts
• West Allis Small Business
  Development Program
• No Cost Business Education and Training
• Micro Loan Fund

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Issues Facing Todays Micro-entrepreneurs

• Work History
• Transportation
• Child Care
• Medical/Mental Health
• Housing
• Credit History
• Welfare or Public Assistance
• Lifestyle/Family Situations
• Isolation

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Benefits to Clients

• Self evaluation business viability assessment
  reality check
• Improve business skills
• Better chance for business success
• Access to capital expertise
• Build stronger credit
• Networking contacts

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Benefits to Providers Organizations

• Resource for your clients
• Referrals to other resources
• WWBIC is a statewide organization
• Partnerships filling the gaps
• Workshops in your community
• Regularly scheduled
• Customized/Ad Hoc

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How to Contact WWBIC

• Milwaukee 414-263-5450
• Fax [phone]
• 2745 N. Dr. Martin Luther King Jr. Drive
• Milwaukee, Wisconsin 53212
• E-mail sherry.saiki_at_wwbic.com
• Website www.wwbic.com
• WWBIC Affiliations
• A Certified Development Financial
  Institution (CDFI)
• A U.S. Small Business Administration
  Microlender