Hutchinson business benefits from SWIF Microenterprise Loan Program
DEC. 22, 2009—Greg and Melanie Jenum recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program to start up their tarp manufacturing business, Atomic Tarp, LLC located at 16393 Hwy. 7 East in Hutchinson. Atomic Tarp manufactures custom and standard truck and trailer tarps, catamaran sailboat trampolines and other heavy duty coverings.
Greg grew up in Glenwood, Minn., where his father and partners built up Quadro Corporation, a business that supplies curtains used by airline baggage handlers. This gave Greg a great deal of personal experience with the heavy sewing industry.
Atomic Tarp products are sold locally and online at www.atomictarp.com. Atomic Tarp can be reached at 320-583-2947 or by e-mail at [email protected].
“Greg is a good example of a young entrepreneur taking the risk of starting up his own business after finding the job market is very limited right now,” said SWIF Program Officer Kurt Thompson. “He has the background in the business and the mentorship of his family’s successful business to assist him with this project.”
Proceeds from the SWIF loan were used to purchase industrial sewing equipment. Home State Bank of Hutchinson was a financing partner in the start up of this business. SWIF’s Microenterprise Loan Program offers loans of up to $35,000 for starting or expanding for-profit small businesses located within the 18 counties of southwest Minnesota that have a need for additional sources of funds. In addition, technical assistance is available from SWIF as needed for the length of the loan. The program receives funding assistance from the U.S. Small Business Administration, as well as from the U.S. Dept. of Agriculture.
The Southwest Initiative Foundation is a regional community foundation dedicated to advancing southwest Minnesota through leadership, relationship-building, program development and philanthropy. The Foundation has contributed more than $47 million through its grant and loan programs in southwest Minnesota. It has also helped more than 450 businesses start or expand through its business finance programs, which has created or retained more than 7,500 jobs. To learn more, visit www.swifoundation.org.