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People Incorporated now offering microloans to entrepreneurs in Bristol, TN and Sullivan County, TN


July 16, 2012
Abingdon, VA  – People Incorporated Financial Services is pleased to announce the expansion of its microenterprise products and services to serve entrepreneurs in the city of Bristol, TN and Sullivan County, TN as an intermediary Microlender for the U.S. Small Business Administration (SBA). The SBA recently approved People Incorporated’s request to offer services in Tennessee in consideration of the organization’s past performance and experience as an SBA lender in Virginia. 

People Incorporated continues to address the demand for financing capital in underserved areas throughout the region.  “We are excited have the opportunity to bring our business development and financing services into the city of Bristol and Sullivan County, Tennessee,” stated People Incorporated’s President and CEO Rob Goldsmith. “Building upon the recent successes of the Bristol Downtown Revitalization Loan fund, Bristol and Sullivan County TN will now have even more access to affordable capital and business technical assistance to encourage entrepreneurship and grow our local economies.”

As an SBA microlender, People Incorporated can provide loans to new or expanding businesses in amounts up to $50,000. These loans can be used for working capital, to purchase inventory, supplies, furniture or equipment.  People Incorporated also provides business development services including one to one technical assistance, workshops, and other business and credit related classes. Small businesses interested in applying for a loan may contact Ms. Deborah Wagner, Director of Community Economic Development, by emailing dwagner@peopleinc.net or by phone at 276-619-2239.

 

About People Incorporated Financial Services
Headquartered in Abingdon, VA, People Incorporated Financial Services is a non-profit, certified Community Development Financial Institution that promotes economic self-sufficiency and access to capital for low-income residents and communities by providing business development and lending services, technical assistance, financial and credit literacy training, and marketing services to help businesses attract private investment and create jobs.  Since 1992, People Incorporated Financial Services has deployed over $47.3 million in loan funds, and has helped to create and/or retain 2,636 jobs in low-income communities. People Incorporated Financial Services is an affiliate corporation of People Incorporated, one of the nation’s most successful and innovative Community Action Agencies. For more information about People Incorporated’s programs and services visit People Incorporated on the web at www.peopleinc.net.

 

About U.S. Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam (Mission Statement).

 

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