Minneapolis Jeweler Got Its Start and Has Grown with Help from the SBA
Jen Bellefleur and Kelsey Lee-Karol, co-owners of New Gild Jewelers in Minneapolis, Minn., met as jewelers working in the industry for others. Restless, they dreamt of opening their own business, one where they could focus their talents on designing beautiful
custom pieces for a wide range of people and occasions. They also wanted to create a work environment that would value staff, have good wages and supportive working conditions.
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Going for it in 2017, they made the leap from employees to owners with a clear vision but no formal business plan. They found a location and signed a lease and then started looking for outside capital to augment their savings and credit card spending.
Luckily for them, they were referred to WomenVenture, an SBA microlender. Working with a loan officer who saw their vision and said, “I’m going to help you make this happen,” they quickly created a written business plan to get a start-up loan.
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The U.S. Small Business Administration has announced that National
Small Business Week will take place May 1-7, 2022. During this year’s virtual conference celebrating our nation’s small businesses, the 2022 Small Business Persons of the Year award winners from each state and territory will be honored. The SBA will announce
the 2022 National Small Business Person of the Year from among the state winners represented.
Celebrating NSBW, the SBA will co-host a free, four-day virtual summit from May 2 through May 5, 2022, along with SCORE, to honor the nation’s 32.5 million small businesses for their perseverance.
Here in Minnesota, the SBA will be honoring 11 Small Business Week winners and hosting multiple events.
The SBA recently announced an all-hands-on-deck, multi-faceted expansion of efforts to identify and support the SBA Inspector General’s recovery of fraudulently obtained COVID economic relief funds and to prevent potential future theft of taxpayer dollars.
The SBA is making impactful reforms to the agency’s Community Advantage loan program, a key SBA tool that prioritizes equitable access to capital for low-income borrowers and those from underserved communities.
Among the reforms being announced for the Community Advantage program, the SBA will:
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Lift the four-year lender moratorium and enable the SBA to grow this important lender network, opening up a critical capital program to more mission-based lenders across the country.
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Increase the maximum loan size to $350,000
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Remove restrictions that can keep individuals with criminal backgrounds from accessing the program.
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Simplify underwriting and collateral requirements for borrowers and lenders, including increasing the maximum unsecured loan size to $50,000.
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We are hosting training webinars to help entrepreneurs and small business owners start, grow, expand, and recover.
To learn more and register today, visit the links below:
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Steps for Starting a Small Business
April 13, 10 a.m.; Register
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SADBOC Procurement Fair (with multiple partners)
April 25;
Learn More -
SBA Funding for Your Business – with the IRS and WHD
Apr 26, 11 a.m.;
Register
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Simple Steps to Starting Your Business (5 Session Series) (SCORE)
April 20-May 18;
Learn More -
Exit Planning (SBDC)
April 21 & 28;
Learn More -
5 Steps to Launch Your Website Like a Pro (SCORE)
April 21;
Learn More -
HR Basics: When Growing from Start-Up to 20+ Employees (SCORE)
April 26;
Learn More -
WomenVenture Overview
April 27 & 29; Learn
More
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for information as it becomes available too.
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