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Pilot Micro Loan Program

In 2010 the Center for Women is piloting a program that will provide micro loans to women business owners.

The funds for these loans will initially come from the Good for Women Foundation which was created by Barbara Hearst in 2009. Ms. Hearst also created B. Hearst Designs to sell a unique line of shirts.

The first two microloan recipients are Vickie Pittman and Corrie Silvers.
Pittman, who is a clerk at the railroad, decided to start a cleaning business on the side called RSVP Services. She has hired three employees and is using the microloan to buy software and technology to expand her business.

Silvers started Teacups and Trucks, an event company that throws themed birthday parties for children. She is using the money to buy a small trailer to help transport her party supplies and equipment. Previously, Silvers used her own SUV and was limited to parties with 15 kids or fewer. The trailer allows her to double her capacity to 30 children. It also allows her to hold two parties at once, by lending the trailer to an employee while she takes her SUV to do another party.

The program matches the microloan recipients with an advisory board, which includes an attorney, an accountant and a marketing expert, to help the women succeed in their businesses and repay the loans.

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June 2010
Hamptons.com
B. Hearst Design: Women Helping Women

May 25, 2009
Charleston Regional Business Journal
Microloan program aims at helping women start businesses

 



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