New business benefits from Southwest Initiative Foundation Microloan program 
APRIL 20, 2010—New Edge, LLC, owned by Jim and Connie Lindmeyer, of Hutchinson, recently received loan assistance from the Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program to start up their business producing and marketing New Edge replaceable lawn mower blades.
New Edge Replaceable Blades contain a fixed bar that will replace the current blade on a lawn mower, on which are attached two removable Polyethylene (UPMWPE) plastic blades. UPMWPE is the strongest plastic available, and the blades have been tested for balance, strength and durability.
Blades can be removed in a matter of minutes and replaced with new blades that will be sold through the company’s Web site, www.newedgellc.com, and eventually in stores. Rather than taking the entire blade off for sharpening, the removable blades can be pulled off, recycled and replaced. The fixed bar that replaces the actual blade has been manufactured to fit all standard lawn mowers and will fit commercial mowers as well.
Jim attended the National Hardware Show last year and has had a great deal of interest in the New Edge product from distributors and lawn mower manufacturers across the country, as well as from golf courses. In addition, the New Edge Replaceable Mower Blade product was ranked number one of the top 10 products receiving the most dealer inquiries for 2009, in the Equipment Dealer, the official publication of the North American Equipment Dealers Association.
“Jim has worked hard over the past four years to develop his unique, new product,” said SWIF Program Officer Kurt Thompson. “It has great potential in the new economy we are in, as well as with green enthusiasts. Jim also understands the benefit of business education and networking, and is utilizing all the tools available to him.”
Proceeds from the loan will be used for inventory and working capital. 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.
