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Beaver Street Enterprise Center expands micro-loan program, incubator space with funding from Wells Fargo

Beaver Street Enterprise Center (BSEC) has announced the expansion of its Micro-Loan Program with $50,000 in funding from Wells Fargo. The funding is part of a larger grant from Wells Fargo through its NeighborhoodLIFTSM  program which supports efforts to help stabilize communities and stimulate growth in Jacksonville’s urban core. BSEC also received $50,000 to support the completion of Phase II of the Center’s facility expansion project that will provide start–up space for 10 new small businesses, for a total of $100,000.

The expansion will add approximately 13,000 square feet to the existing capability of the incubator, creating 10 new office suites and a conference center. It is designed to attract companies with annual revenues in excess of $500,000 that employ 5-20 individuals. The Micro-Loan Program will enable the creation and strengthening of additional businesses, particularly in the Springfield and Eastside EPIC communities and can be applied to working capital, start-up costs, inventory and equipment, hiring employees, funding marketing campaigns, etc.   Upon funding, BSEC, Jacksonville’s core-city business incubator, connects the small business owner with experienced business counselors for one-on-one business consulting, training or seminars to ensure success in their business.

Kyle Dean of Dean’s Environmental Services,which provides weed and brush management, pest control, aquatic weed control and environmental/lawn maintenance is the first recipient of a micro-loan through the program.  “I needed some working capital assistance after my company won three contracts from the Florida Department of Transportation,” said Dean, a single dad who weathered Desert Storm and the economic bust of 2008. The Navy veteran has taken advantage of the many community resources available for small business owners, including the micro-loan program, and encourages others to do the same. “I’m very thankful for the help,” he said.

“Wells Fargo has a long history of supporting the programs at BSEC, “said Valerie Jenkins, Community Development Officer for Wells Fargo. “We’re confident the expansion of both the facility and the micro-loan program will have a positive impact on our communities.”

“Now in our tenth year, Beaver Street Enterprise Center is proud to be able to reach out beyond our current facility and expand our services to help deserving small business owners like Kyle Dean,” said Jackie Perry, BSEC Executive Director. “We are very grateful to Wells Fargo for their continued support which enables BSEC to offer critical assistance and resources to our entrepreneurs and small business owners.”

To apply for a microloan, contact Jackie Perry at (904) 265-4701 or email perrj@bsecenter.net.


 


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