L.I.F.E Microlending

The LIFE Microlending mission is to advance economic development efforts in Louisa County through the support of entrepreneurship and small business development by providing training, mentoring, funding and networking opportunities for Louisa County entrepreneurs, small business owners, and community leaders.

Download the LIFE Spring 2011 Newsletter

L.I.F.E. News

LIFE Microlending assists FFA students with rodeo plan

Louisa County, IA – March 2010 – In case you haven’t heard the buzz, LIFE Microlending has been busy in 2011--just ask the Wapello High School FFA. Allie Hagberg and Ben Reschke, two students on the Wapello FFA Rodeo Planning Committee, are participating in LIFE Microlending’s first small business development class of the year.

Planning required for the Wapello FFA Rodeo has greatly increased since it went pro in 2009. LIFE Microlending approached Wapello Ag Instructor, Irv Meier, about helping some students write a business plan for the rodeo in January, and Meier decided to sponsor two students. For the past month, Hagberg and Reschke have been attending the LIFE Microlending Small Businesss Academy, along with other local entrepreneurs working on plans for their own businesses.

“The class has been helpful, and it’s beneficial to me because I’m thinking about going into business,” says Hagberg, a senior with plans to attend Iowa State University in the fall. Meier is attending the classes so that he can help the students with the homework they receive each week.

For each week of this 12-week course, class starts out with a local business person presenting their personal experience with the topic to be covered, ranging from the legal aspects of setting up a business to sales and marketing tactics. A few of the local businesses who have shared their business experience with the group are Kathy Buxton, CEO of Grasshorse Media in Winfield and Elias Gutierrez, managing partner and CEO of Doña Letty Foods in Columbus Junction. Last week, Jason Hutcheson, Executive Director of Grow Greater Burlington, shared information about an online, subscription based market research tool made available to Louisa County small businesses for free through Grow Greater Burlington.

By the end of the course, participants will have written a feasibility plan for their new business idea or a business plan for their existing business--or rodeo. The cost of the course is normally $195 per person, but thanks to grant funding from the Iowa Foundation for Microenterprise and Community Vitality and a Horizons grant, participants were only responsible for the cost of the materials, $40.

In addition to the Small Business Academy, 40 Wapello High School FFA students attended LIFE Microlending’s First Thursday Lunch-n-Learn last week. Guest speaker John Lawrence, ISU Extension to Agricultural and Natural Resources Director, presented to the group statistics about the economic impact of agriculture in Louisa County, information about the ISU Ag Entrepreneurship program, and the results of the 2011 Ag Innovation contest. The high school students’ lunches were provided by ISU Extension thanks to a Monsanto grant dedicated to promoting beginning farmers.  Also in attendance at the event were local bankers and farmers.

Next month, the LIFE Microlending First Thursday Lunch-n-Learn, scheduled for April 7, will feature guest speaker Jason Yates, Iowa MicroLoan Administrator and Developer. May Lunch-n-Learn will welcome Iowa Dept. of Economic Development Project Manager Michael Gould. Both will be held at Corner Market in Wapello, 12:00-1:00. First Thursdays are sponsored by LIFE Microlending, the Iowa Foundation for Microenterprise and Community Vitality, and the ISU Extension Council. All events are open to the public.

For more information about any of the information listed above, please contact lifelending@gmail.com. Website coming soon! In the meantime, check out the Wapello Rodeo at www.wapellorodeo.com.