Recently, the U.S. Small Business Administration estimated that three in five new jobs in the United States are created by small businesses.
Additionally, small businesses accounted for 61.8 percent of net new jobs from the first quarter of 1993 until the third quarter of 2016.
This evidence underscores our drive for job-creation strategies that focus on small businesses as critical to spur economic growth. Now in Mr. Kellogg’s hometown, a new loan fund is ready for local businesses and start-up entrepreneurs to realize their business dreams.
The Battle Creek Small Business Loan Fund is a $10 million loan fund available to members of the Battle Creek community or small business owners looking to open a business in Battle Creek. Managed locally by Northern Initiatives, interested entrepreneurs should reach out to Kellie Hoffman, the new local loan officer. Her office is located downtown on the Mezzanine level at 2 West Michigan Avenue. Or give her a call at: 269.224.6940.
The Small Business Loan Fund was established by the W.K. Kellogg Foundation (WKKF) and supported by major contributors including the Kellogg Company, Battle Creek Unlimited and The Miller Foundation. It was launched in June 2018, when local funders’ investments were matched 2:1 by WKKF. To date, $6.4 million has been contributed, well on its way to $10 million.
Contributing to Battle Creek’s Small Business Loan Fund is an investment in our city’s economic vibrancy today and in our community’s future. We need more individual and business investors to join us. Learn how you can invest in entrepreneurship by contacting Terri Govern with Northern Initiatives at tgovern@northerninitiatives.org or Andrew Brower, program-related investment officer at the Kellogg Foundation at Andrew.brower@wkkf.org.
Read more about the Battle Creek Small Business Loan Fund.
