Business benefits from Microenterprise Loan Program
JUNE 11, 2010—Jimmy’s Pizza of Appleton, owned by David Thomas, recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program for the start up of the business located at the corner of North Miles and West Snelling in downtown Appleton.
Jimmy’s Pizza is famous for take-out and delivery of fresh, home-baked style pizza and will deliver within a 10 mile radius of Appleton. There will be specials offered to reintroduce the community to Jimmy’s Pizza. Business hours are 4 p.m. to 9 p.m. Sundays through Thursdays and 4 p.m. to 10 p.m. Fridays and Saturdays. The business can be reached at 320-289-2222.
Thomas has successfully owned and operated the Jimmy’s Pizza franchise in Dassel for five years and has become a franchise developer for Jimmy’s Pizza, Inc. His manager from Dassel, Jacob Hendrickson, will be moving to Appleton to manage daily operations of the business.
“The Foundation is pleased to assist David in the start up of this business,” said SWIF Program Officer Kurt Thompson. “We’re also pleased for Appleton, which will again have a local pizza restaurant available in the community.”
Proceeds from the loan will be used to purchase equipment and provide working capital for the start up of the business. Other financing partners were the Farmers and Merchant’s Bank in Appleton and the Appleton Project.
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.
Photo caption: Jimmy’s Pizza of Appleton manager Jacob Hendrickson (left) and owner David Thomas (right).
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.
