Memorandum
Date: August 20, 2024
To: The Honorable Lake County Board of Supervisors
From: Susan Parker, County Administrative Officer
Subject: Public Hearing - Consideration of Closing of the CDBG Economic Development - Microenterprise
Executive Summary:
The County of Lake applied for and received Community Development Block Grant (CDBG) funds to implement a microenterprise technical assistance program. The County received 105 inquiries, 54 people completed the State Microenterprise Self-Certification form, 17 people were out of the service area or not income eligible. The 37 eligible recipients received assistance with business planning, financial planning, business forecasting, credit and marketing assistance. There were four workshop series, these were Getting Financially Fit, Basic Business Readiness, Marketing Strategies, and Basic Business Credit Assistance.
During the eighteen-month implementation period over two thousand hours were spent with individuals to determine eligibility, understand the goals and needs of the enrolled individuals, develop and revise workplans, assist in all aspects of business development including providing feedback on the initial business idea, business planning, market analysis and strategy development, developing projections, understanding credit, accessing capital and developing exit strategies. All individuals assisted were from the low/moderate income group with the vast majority as Sole Proprietors and self-employed.
The program provided assistance to 13 existing business and 24 startup businesses throughout the unincorporated area of Lake County.
The program assisted in capital infusion to participating businesses in the aggregate amount of over $100,000. Business assisted included construction/fabrication, agricultural producers, beauty and health service providers, business and residential service providers, artists, hospitality and food service, and automotive.
Staff recommends approval to closeout CDBG Mic...
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