Phase I: Credit Before Capital · Managing Your Personal Credit

This is a program is designed to provide entrepreneurs with the knowledge needed to address their credit & debt histories and prepares them for the next phase of entrepreneurship; developing a business plan. The materials used for this program are: Credit When Credit is Due (CWCID).

Phase II: Business Plan Basics · Business Plan Development Training

The Entrepreneur Institute offers a business plan development training program for entrepreneurs starting a small business or expanding an existing small business. The Entrepreneur Institute utilizes the nationally recognized and registered curriculum, Business Plan Basics, NxLevel's® Guide for Micro-Entrepreneurs.

The 15-week program is designed to guide entrepreneurs through the necessary elements needed to develop a solid business plan. A certified NxLevel Instructor teaches the course. Local business owners, entrepreneurs, and professionals from the community volunteer as guest speakers each week which gives the training is practical aspect. The course also explores achieving self-sufficiency through self-employment. Participants will learn the following as they develop their own written business plan:

• What it takes to be a successful Entrepreneur
• How to develop and test their business concept
• How to select the best business entry option
• How to organize and manage their business
• How to understand and get their financials in order
• How and where to get funding for their business
• How to determine the feasibility of their business concept
• Networking with other entrepreneurs

Micro-Loans

The Entrepreneur Institutes loans are intended to assist entrepreneurs who are not able to obtain credit offered through tradition financial institutions. Loans of $500 - $10,000 are available upon approval to applicants who meet the Entrepreneur Institutes requirements.

First LCMF loan was disbursed in the fall of 1997. Total number of loans approved: 32 Total dollar amount of funds disbursed: $194,075

In order to be considered for an Entrepreneur Institute Micro-Loan, applicants must:

• Have Completed a Formal Business Plan for Start-up business or
• Provide updated business or marketing plan, or proposal for existing business
• Meet LCMF Low or Moderate Income Status
• Have residence or business in the City of Lansing
• Have a business financed by the loan that will benefit low income or economically disadvantaged people or neighborhoods in the City of Lansing
• Have no unsettled judgments, collections, unpaid taxes, fees, fines insurance, etc., that do no have work-out agreements with all of the parties involved