Sheron
Campbell, 1995 Women’s Initiative
graduate
“When I came to Women’s Initiative,
I wasn’t low-income, I was NO income.
Women’s Initiative gave me the tools
I needed to succeed. I went out and did
it for myself.” Now, ten years after
graduating Sheron owns her own home and
business. Amazing.
Visit Sheron's business
World
of Braids online.
A
Note from Paula Leroy, Entrepreneur and
Women’s Initiative Board Member
The October business
conference is an inspiring event for me.
As a Board member, I was a participant
in the recent strategic planning meetings
and it was quite apparent that Women's
Initiative was being called by our graduates
to provide encouragement through further
education. Our graduates wanted more information
and networking opportunities in order
to enhance their businesses - and I remembered,
from my own start-up days in business,
just how overwhelming and lonely it is
striving to be a success with a new idea.
Taking those strategic plans to the drawing
board has been a terrific experience,
and it has culminated in our one-day October
conference offering a dynamic array of
meetings and forums for our graduates
to voice their concerns, share visions,
and most importantly, get answers and
advice. I can't think of anything more
important that we could be doing for our
clients. And, on a personal note, after
seeing this idea come to fruition, I am
truly thrilled to be a part of an organization
that is so responsive to the needs of
those we serve.
TUNE
IN: Graduates in the News
Jen Armstrong, owner
of JAK Designs; Sheron Campbell,
owner of World of Braids, and Women’s
Initiative executive director Julie
Abrams were featured in a 30
minute interview on KFOG on July 30 and
July 31. Graduate Nicole Markoff,
owner of Nicacelly, was featured on KPFA’s
Hard Knock Radio on July 21, 2005. To
listen to the interview with Nicole, visit
the KPFA
website and click on the July 21 link.
| Women’s
Initiative - a Different Kind of Lender |
Approximately
10% of our graduates will get loans from
Women’s Initiative that they could
not get anywhere else. In order for our
clients’ businesses to grow and
be successful, access to capital is essential
and is often not accessible to low income
women because of their credit history,
short time in business and lack of owner’s
capital investment.
We
offers three different types of loans:
Seed Loans (up to $1,000) – for
clients who are exploring their idea for
starting a business, Start-up Loans (up
to $10,000) – for clients who are
just starting their business and need
help with initial costs, Operating Loans
(up to $25,000) – for established
businesses that need capital for expansion.
Our
loan fund is unique. While we look at
clients’ credit histories, we also
know the clients personally because they
have been in our classes and we have watched
them grow. Our business trainers take
time to walk prospective loan fund participants
through the application process during
one-on-one consultations. Our loan application
process is personal and empowering to
our graduates.
For
many of our clients in our ALAS program,
accessing our loan fund is the first step
to establishing credit in this country.
Our loan applications are available in
Spanish and English and our ALAS graduates
connect with a Spanish-speaking business
trainer to support them through the loan
process. After a loan is approved, we
continue to support our graduates by conducting
on-going technical assistance, even after
graduates have paid back loans.
Recent
lending success includes loans for technology
that has been introduced in our training.
Graduates are buying computers to kick
up their business success.
Zakiya
Harris, owner of IRE Clothing
A recipient of our $10,000 start-up loan,
Zakiya Harris is the owner of IRE Clothing,
an eclectic line of clothing for men and
women. With limited resources and an eye
for fashion Zakiya graduated from Women's
Initiative in 2004 and applied for the
loan shortly after. She gives accolades
to her small business trainer, who stuck
with her through dozens of drafts of her
business plan and inspired her to move
slower and smarter through the loan process.
Together they made sure her business plan
was concrete so that Zakiya was confident
enough in herself and her business to
go before the loan committee. With her
start up loan Zakiya bought equipment
for her home office, including a computer
and a printer, along with the necessary
sewing equipment and materials for making
samples of her products to show to sales
reps in the Bay Area and New York. Zakiya
also employs a pattern maker and is committed
to a fair wage and good working conditions
for her employees. This fall her company
will be presenting two full collections,
including a premier men’s line.
Visit www.IREclothing.com.
Caroline
Lowery, owner of w.e.a. designs
Caroline recently received a $1,000 seed
loan from Women’s Initiative after
graduating from our program in April 2004.
Her business, w.e.a. designs, manufactures
and sells children’s clothing using
distinctive and unique vintage fabric,
creating one-of-a-kind clothing that is
fashionable and comfortable. In order
to get her business off the ground and
to plunge into the competitive children’s
boutique clothing market, Caroline decide
to apply for a seed loan to purchase some
necessary equipment and supplies for her
business. With the seed loan, Caroline
was able to purchase a $600 Surger machine,
which finishes clothing so that the ends
do not unravel plus makes the finished
product more professional looking. With
a great product in tow, Caroline decided
to use the rest of her seed loan to rev
up her marketing program by printing collateral
for her marketing kit such as an essential
business card, as well as letter head,
postcards and spec sheets to be sent to
prospective buyers.
-Heidi
Hill
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