Rural Glencoe business benefits from SWIF Microenterprise Loan Program
Joyce Mathews received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program to purchase specialized equipment for the start up of her sewing and alterations business in rural Glencoe.
Mathews has been sewing and making alterations for family and friends more than 40 years, including sewing and altering bridal gowns, tuxes, bridesmaids’ dresses and formals, and matching miniature brides dresses for flower girls. She has also done drapes, curtains, pillows and costumes.
When researching a business idea, many people suggested she use her skills and experience and go into business. By adding an embroidery machine, Mathews is able to serve the expanded needs of her area customers, including designs, logos and personalization. She can be reached at 320-864-6197 to discuss any sewing, alterations or embroidery needs.
“Joyce is a good example of an entrepreneur making use of their skills and talents to start their own business,” said SWIF Microenterprise Program Coordinator Berny Berger. “In addition, she has been making use of the Microenterprise Program’s technical assistance benefits to further grow her business.”
Proceeds from the loan will be used for equipment. 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. Department 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 $50 million through its grant and loan programs in southwest Minnesota. It has also helped more than 480 businesses start or expand through its business finance programs, which have created or retained more than 7,600 jobs. The Southwest Initiative Foundation is an equal opportunity provider. To learn more, visit www.swifoundation.org.
