Ivanhoe, MN business benefits from Microenterprise Loan Program
Mark Paluch recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program for the start up of Battery CPR, a battery recycling business in Ivanhoe. Battery CPR will be an exclusive dealership for Battery Services International (BSI) serving southwest Minnesota, northwest Iowa, and eastern South Dakota.
BSI has developed a technology and process that restores, rejuvenates, maintains and increases performance and capacity of all types of lead acid batteries, including starting, deep cycle or marine, forklift and electric batteries. Most batteries die with about half of their useful life left and are discarded. Paluch’s business will take batteries and remove the sulfate which plugs up the cells, thereby allowing batteries to again accept a charge, at a lower cost to the consumer than replacing with a new battery. This is fairly new technology in the industry, and not currently available in this trade market area. Battery CPR will also offer refurbished batteries for sale, at a cost savings to the consumer.
Paluch can be reached at 507‐828‐8470 for information on battery recycling. Battery CPR’s shop is located at 2825 190th Ave. west of Ivanhoe, just off of State Highway 19.
“In this time of concern for the environment, and ‘green’ business practices, this is a prime example of using new technology to reduce waste,” said SWIF Program Coordinator Berny Berger.
Proceeds from the loan will be used to purchase inventory for the start up of the 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. This program also now serves Wright, Carver and southern Stearns counties.
In addition to financing, SWIF provides free technical assistance to all clients who have received a loan through the Microenterprise Program for the life of the loan. SWIF staff and business consultants provide one‐to‐one business planning, accounting, marketing and other training opportunities that will help entrepreneurs succeed in their venture. SWIF’s Microenterprise Loan Program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture.
