By Lori Ehde
A noon luncheon Friday brought local business owners, lenders and community leaders together with organizations that exist to improve small-town economic development.
Attendees heard presentations by the Southwest Minnesota Foundation, Prairieland Economic Development Corporation and Southwest Regional Development Corporation.
All three entities are similar in that they serve as "gap lenders" for small businesses. This means they help come up with the difference between a business owner's equity and private financing.
"We're not here to compete with local lenders," said SWMN Foundation's Berny Berger. "We're here to work with them to bring it together."
The organizations are also similar in that they often serve as administrators of government grants and loans. The Southwest Minnesota Foundation, for example, lends money on behalf of the USDA and Department of Trade and Economic Development.
The hour-long meeting at the Blue Mound Banquet and Meeting Center, Luverne, was facilitated by the Luverne Economic Development Corporation and Luverne Area Chamber of Commerce.
"One of the best ways to develop an economy is to focus on the people who help make it happen," said LEDA director Tony Chladek at the start of the meeting.
"Some of the best ways to generate ideas is to get together like this."
Small business owner Annie Opitz, Luverne, attended Friday's luncheon. "It was a great turnout," she said. "It was nice to see all the newer, younger business owners from around town there."
Opitz started Quality Printing with her husband, Mark, two years ago.
She said they leaned heavily on start-up help from the Prairieland EDC and the Southwest Minnesota Foundation.
"That's how we did most of our loans," she said. "Anne Petersen (of Prairieland EDC) went to the bank with us and helped us with our business plan. We couldn't have done it without her."
After startup, Quality Printing continued to look to Petersen for information on how to keep their business afloat. "She had ideas on ways to get new customers and different things to look at to expand our customer base," Opitz said.
Stacy Mente, manager of Roundwind Travel, said she attended Friday out of curiosity.
"If we ever want to expand, I wanted to find out what help was available," she said. "It was very good information ... I never knew they did half the stuff they do."
Chladek said he hoped to have more "information clearinghouse" meetings like Friday's in the future.
"My goal Friday was to educate the public that there are other tools out there for small businesses besides the city and local lenders," Chladek said.
Future meetings, he said, may be staged merely to get local businesses and potential business owners together for idea exchanges.
Phone numbers and addresses for the Southwest Minnesota Foundation, Prairieland Economic Development Corporation and Southwest Regional Development Corporation can be accessed by calling Chladek at the Luverne EDA Office, 449-5033.