Opportunity SWVA pilots Kiva loan strategy

Community development partners across Southwest Virginia are piloting the use of the Kiva crowdfunding loan platform to help small businesses expand and add jobs. Opportunity SWVA, the region’s entrepreneurial ecosystem collaborative identified five businesses in need of small loans. Over the next two weeks, the businesses are working to raise a total of $43,000 in new capital.

Begun in 2005, Kiva is primarily known for global work connecting people to capital to alleviate poverty. With loans as small as $25, individuals can put critical resources in the hands of emerging entrepreneurs.

oppswvaOpportunity SWVA, comprised of more than 25 small business development support organizations, is working with businesses that have participated in community business launches or have an ongoing relationship with a partner organization. Opportunity SWVA acts as a Kiva Trustee, attesting to the character of the potential borrower.

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SWVA Kiva entrepreneurs Eva Beaule, Steven Harris, Beth Walker, Stephen Curd, and Jennifer Bailey with Virginia Secretary of Commerce and Trade Brian Ball (third from right).

The five pilot businesses are all creating jobs with loans of up to $10,000. Several directly support regional and community transformation strategies.

  • St. Paul Main Street business Sugar Hill Brewing Company is seeking a loan to purchase a food truck.
  • Glade Spring design house and manufacturer Garic Stephens is purchasing sewing equipment to hire additional workers.
  • Architectural steel detailing firm Appalachian Drafting is purchasing a software license to put an additional person to work creating 3D holograms of buildings.
  • In Norton, All Indoor Farm Store is expanding to create Stone Mountain Adventures, a business-diversification strategy supporting the outdoor recreation economy.
  • Advenuture Mendota is purchasing new kayaks to grow the capacity of the four-year-old outfitter, which began as a revitalization strategy in the Washington County community of Mendota.

Want to learn more about how Kiva works?  Try it out!  Support one of the SWVA loans. Then, as your region or community plans its own Kiva strategy, the Opportunity SWVA team will be happy to share with you what they learned.

Make a loan and watch videos of the entrepreneurs.
Track progress of Opportunity SWVA on Facebook.
Get all of the Opportunity SWVA Kiva tools at www.opportunityswva.org/kiva.

 

Webinar Series – Downtown Buildings: Tools for Revitalization

Virginia Main Street (VMS) is hosting a series of three webinars throughout June covering topics related to downtown buildings and tools for revitalization.  All webinars are FREE, however, registration for each one is required.


Virginia Rehabilitation Code
June 6, 2018, Noon-1 p.m.

Speaker: Jeff Brown, MCP, Director of State Building Codes, DHCD

The Rehabilitation Code can sometimes be daunting for downtown building owners to navigate when determining how to make property improvements.  How do you modernize an older building without breaking the bank to meet current requirements? This webinar will help you understand what code sections to reference and available tools to make discussing your planned improvement with your local official easier.


Virginia Main Street Financial Feasibility Studies
June 13, 2018, Noon-1 p.m.

Speaker: Kathleen O. Frazier, AIA, Principal, Frazier Associates

Do you have a large-scale downtown building that sits vacant or underutilized and you do not know what can be done with it? A financial feasibility study is one way to crack open new possibilities for the building and community.  This webinar will walk through the what, when, who and how of the feasibility study process.  With a completed study, your community and property owners will know what to expect and have the answers to attract potential developers, tenants or new owners.


Virginia Maintenance Code
June 27, 2018, Noon-1 p.m.

Speaker: Jeff Brown, MCP, Director of State Building Codes, DHCD

The Maintenance Code provides localities with the means to deal with, not only unsafe structures unfit for habitation, but also the means to reduce blight and maintain property values.  In this webinar, you will learn what the Maintenance Code is and is not, as well as how your locality can enforce it to insure a fair and measured approach is taken.  Topics will cover examples of blight related ordinances, roles of the local and state boards and technical support services available through DHCD.


FIND OUT MORE AND REGISTER FOR EACH WEBINAR HERE >>>

 

Collaborate for Impact

If you want to grow your volunteer and donor pipeline, you must reach out to your locals and create an opportunity for input.  Listen and find out what they love about where they live.  If they see their ideas implemented, they are more likely to contribute their time and money, making Main Street’s mission much easier to achieve.

Community engagement works best where it is an ongoing cumulative process enabling relationships and trust to build and strengthen over time.  There is a range of levels and techniques for participation. Resources are popping up to make it easier to navigate through it all.

From the Main Street America network, there is the new publication Community Engagement for Main Street Transformation, a guiding framework for understanding how to launch or strengthen the community engagement efforts.  Thankfully, it does not stop there.  Here are few worthwhile articles and resources:

What works for your community?

FastTrac Program Available for Entrepreneurs

You have an idea. That’s where it starts. Now what do you do with the idea? You could start a business, but how do you make it viable? The Kauffman FastTrac program can help you find the answer.

The Kauffman Foundation has been helping entrepreneurs for more than 50 years, and the FastTrac program has been designed as a flexible course with a solid framework to support you as you start a business and begin your journey to success. This immersive course is designed to provide information, tips, exercises and tools to help you go from concept to reality.

The course will help you:

  • Discover how your business concept matches your personal vision.
  • Align your business concept with a real-market opportunity.
  • Find your target market and discover your competitive advantage.
  • Determine the unique features and benefits to your product/service.
  • Learn how to set realistic financial goals for your business.
  • Define your company’s brand and marketing.
  • Learn how to manage business functions and develop an organizational culture.
  • Determine the steps to profitability.
  • Identify potential sources of funding for your business.
  • Launch your business.

The FastTrac program has been used to train more than 300,000 entrepreneurs throughout the past 25 years, and now an online version is available for free for the first time. For more information about the FastTrac program, click here.