Matt Dammann benefits from SWIF Microloan program
Matt Dammann recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program to computerize his business, Full Throttle Services. Dammann has offered farm tractor, truck, automobile and equipment repairs for the past four years and a built a successful business. Full Throttle Services is located at 16505 Eagle Avenue in rural Glencoe and can be reached at 320-395-2831.
Dammann is also utilizing the Small Business Management (SBM) program at Ridgewater College, Hutchinson, which compliments SWIF’s technical assistance. “We are pleased to assist Matt in growing his business,” said SWIF Microenterprise Program Coordinator Berny Berger. “Matt values the benefit of business education, and this shows in his business operation.”
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 $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.
