My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.


Nonprofits offer new twists in microinvesting.
Magazine Contributor
2 min read

This story appears in the August 2000 issue of Entrepreneur. Subscribe »

A small group of nonprofit organizations is testing financing programs to help low-income individuals start and sustain businesses. The 2-year pilots were made possible by grants from the Aspen Institute, a non-profit organization in Washington, DC. Two of the innovative programs create a micro-venture-capital fund and establish a Business Investment Trust, respectively:

  • Coastal Enterprises Inc. (CEI), a Wiscasset, Maine, economic development agency, will make investments through its micro-equity product of up to $25,000 in sole proprietorships, partnerships or corporations that are operated by individuals from households with low incomes, create jobs for low-income residents or are in the natural-resources and organic-farming industries. The investments are for five to six years, and the exit strategies vary by company.

CEI also offers grants of up to $700 (available in two stages) to low-income entrepreneurs. Business owners must submit a business plan, then follow up three months later with a report on how the grant proceeds were used. The grants are made possible largely through a partnership with the Trickle Up Program, based in New York City. For details on the programs, call (207) 882-7552. Both CEI programs are intended for residents of Maine only.

  • In Wisconsin, the West Central Wisconsin Community Action Agency Inc. has created the Business Investment Trust. The program is open to new and existing businesses operated by residents with low household incomes in the counties of Barron, Dunn, Chippewa, Pepin, Pierce, Polk and St. Croix.

Participants obtain loans through the agency's revolving loan fund. Forty percent of the loan repayment is placed into an escrow account, and if all payments are made on time for 12 consecutive months, the borrower can receive another loan for 40 percent of the repayment value. For more information, call (715) 265-4271.

More from Entrepreneur

Kim's expertise can help you become a strong leader, pitch VCs for capital, and develop a growth strategy.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.
Start My Plan

Latest on Entrepreneur