|
The FAIM Program can be used to begin a new business or expand an existing small business. The local FAIM agency shall determine the realistic possibilities of such ventures. The accountholder must have completed the Financial Management Curriculum, the small business curriculum and have an approved Business Plan before any matched withdrawals are allowed.
- Other legitimate business expenses such as home based rent, childcare etc. is not allowable to be paid by FAIM.
- Three bids should be received for remodeling projects related to the business plan.
- The business plan is approved by a financial institution, a micro-enterprise development organization, or a nonprofit loan fund having demonstrated fiduciary integrity.
- Non home-based rent must be part of an approved business plan.
A business plan or a plan to use a business asset purchased which is approved by a financial institution, a micro enterprise development organization or a nonprofit loan fund having demonstrated fiduciary integrity. The plan must include a description of services or goods to be sold, a marketing plan, and projected financial statements. A FAIM accountholder must work with an experienced entrepreneurial advisor in order to receive approval for a qualified business plan.
Program Forms
Pre-development Microenterprise Assessment
Business Development Training
The Minnesota Department of Employment and Economic Development (DEED) is the state's principal economic development agency, with programs promoting business recruitment, expansion, and retention; workforce development; international trade; and community development. The agency's mission is to support the economic success of individuals, businesses, and communities by improving opportunities for growth. DEED's organizational structure is aligned with its mission.
Small Business Development Centers (SBDCs) offer one-on-one business management counseling to help clients meet their business goals. Services are provided by experienced consultants, college and university faculty, and qualified volunteers. Some centers also offer counseling electronically over the Internet. Counseling focuses primarily on five areas: business planning, business assessment, financial analysis and loan packaging, marketing, and access to business information. Access to more specialized expertise may be arranged with the local SBDC director. Business management counseling is provided at no charge. Fees may be charged for specialized non-counseling services.
Existing or prospective for-profit entities that meet the U.S. Small Business Administration's definition of a small business are eligible for SBDC counseling services. The SBDC program is funded by the U.S. Small Business Administration, DTED, and participating organizations.
SCORE "Counselors to America's Small Business"
SCORE® is a nationwide organization of active and retired business men and women who volunteer their services to assist small businesses and entrepreneurs. SCORE® provides free business counseling and offers low-cost workshops on a variety of business topics. Perhaps most importantly, experienced SCORE counselors offer free, one-on-one, personal confidential counseling on all aspects of small business management from financing to manufacturing to marketing. This website enables entrepreneurs to conveniently access a wealth of relevant Minnesota small business information.
The WomenVenture Experience
During its 29-year history, WomenVenture has helped over 80,000 women – and men – achieve their
business and career dreams. Through a variety of programs, services and practical tools, we provide a
comprehensive, full-circle experience to help people on their journey to economic success and prosperity
during all stages of their lives.
No matter the season of your career, WomenVenture is here to help you grow into your own powerful
potential. To learn how WomenVenture can help you succeed, sign up for one of our Best Place to
Start orientation sessions today! See the Best Place to Start schedule below.
Download Catalog 
WomenVenture Programs
Microenterprise Development
We guide entrepreneurial women and men who want to start and grow their own businesses. We do this by providing one-on-one consulting, access to capital (including microloans), a variety of classes and workshops, and The Business of Small Business and Publicity 101 Toolkit workbooks. We are also an SBA Women’s Business Center.
Career and Work Services
We help women and men who want to find and manage a meaningful and purposeful career. We also prepare women to obtain and retain jobs in non-traditional careers. Our services include career consulting and life coaching, personality and career assessments, a variety of classes and workshops, plus a free career resource library and employment transition support group.
Financial Literacy
We believe that a strong foundation in the principles of financial literacy is necessary for business or career success. We teach women the knowledge and skills to better manage their assets for economic stability and long-term prosperity.
Customized Training
We can customize our programs and services to bring them into your workplace. Let WomenVenture’s 29 years of career development experience work to enhance the success of your organization.
Contact WomenVenture:
651-646-3808
866-646-3808
www.womenventure.org
|
Micro Enterprise 
