Business Initiative$

• appraisals between staff and potential borrowers,
• business education,
• microloans to qualified individuals,
• technical assistance to entrepreneurs,
• monitoring / loan repayments administration,
• follow-up meetings, and
• potential second step loans.

Business training components include business knowledge (information on how to start a business and then to develop it), basic accounting, access to markets, asset development, monitoring and evaluation, and finally personal effectiveness, including:

• time and stress management,
• setting priorities,
• communication, resume writing,
• self-presentation, and
• spirituality.
 

National surveys continue to find that a lack of skilled workers presents the greatest challenge to U.S. businesses, attributing the problem to a "skills gap"; in today's workforce. Significantly, the skills most needed today include:

• responsibility
• punctuality
• interpersonal skills
• self-confidence
• self-management
• appropriate dress and grooming
• honesty and integrity
• ability to work without supervision
• adaptability, flexibility
From "Developing Employability Skills" February, 2004

Clearly, such skills are in great demand and need to be an integral part of any job training or entrepreneurial offering.

Loaves & Fishes collaborates with the Community Economic Development Fund (CEDF) and with Hartford Economic Development Corporation (HEDCO), both of whom administer our loan pool. In working with CEDF and HEDCO, we can accomplish much greater objectives, more efficiently and with greater focus, in collaboration with the experienced microenterprise practitioners who make up much of their staffs. CEDF will also provide technical assistance for our graduates. Once students have completed the course and written a formal business plan, they will be eligible to apply for loans of $1,000 to $5,000 to help start up their businesses. A panel, consisting of personnel from HEDCO, CEDF, and Loaves & Fishes Ministries, will make decisions on loan applications.

Clients progress through the training program to graduation. During the course of the training, CEDF technical assistance personnel will help to shepherd clients into the loan process, in order to facilitate the transition from a home-based experience to a "real world" business situation. When a client is ready (not necessarily immediately after program graduation), that client will present a business plan and loan package to the loan panel described above. Once a loan determination has been reached, the client will have continuing access to individual technical assistance through CEDF and Loaves & Fishes Ministries.

Business Initiative$ currently has completed over 14 full sessions, with more than 70 graduates now in varying stages of business start-up. Sessions are held twice annually, starting in spring and fall.

NOW OPEN!
Bernard Curry, a 2007 BI$ graduate, has now opened his restaurant, Sweet Potata’s, at 1028 Blue Hills Ave., Bloomfield!! The grand opening was held on April 26th, 2008. The restaurant features Southern smokehouse cooking, in Bernard’s words “Southern food prepared with a healthy food consciousness”. For more information, call 860-243-8040. Stop by and enjoy!