STAFF REVIEW OF PROPOSALS FOR Funding Process. 2. Agency Name: Wisconsin Women s Business Initiative Corporation (WWBIC)

Transcription

1 STAFF REVIEW OF PROPOSALS FOR Funding Process 1. Project /Title: The Microenterprise Development Continuum 2. Agency : Wisconsin Women s Business Initiative Corporation (WWBIC) 3. Requested Amount: 213: $2, 214: $2, (Prior Year Level $164,) 4. Project Type: New or Continuing 5. Framework Plan Objective Most Directly Addressed by Proposed Activity: F: Economic Development of Small Businesses 6. Product/Service Description: WWBIC promotes economic development through micro-enterprises by providing direct lending and other business capital, one-on-one business assistance, business education, financial awareness and assetbuilding programs. WWBIC is requesting $16, for loans and $94, for technical assistance costs. 7. Anticipated Accomplishments (Numbers/Type/Outcome): WWBIC will provide 6-7 new loans that will create 3-5 FTE jobs for low-moderate income individuals. WWBIC will serve 14 unduplicated individuals each year through other business capital, one-on-one business assistance, business education, financial awareness and asset- building programs. 8. Staff Review: The WWBIC proposal is applicable to the CDD Program Goals and Priorities. The loan and training programs meet both the micro-enterprise assistance and job creation business assistance goals. To meet changing client needs and expectations WWBIC is requesting additional technical assistance funds from previous years because they find themselves providing more one-on-one business assistance to microenterprises which is requiring more staff time. Lack of access to capital is a barrier many micro-entrepreneurs face. Start-up capital has all but disappeared for many individuals looking to start businesses. WWBIC has and will continue to meet the needs of these individuals. WWBIC is also providing some training classes in Spanish to address language barriers. They also address the audio, visual, and kinesthetic learning styles of diverse individuals. Since 24, with CDD funds, WWBIC has served over 1,185 individuals, with an average of 62% with lowmoderate income. WWBIC has provided 45 loans to businesses that have created over 72 new jobs, of which 9% have been targeted to hires with low-moderate income. WWBIC has used their experience to not only exceed CDD goals but to also be a leader and innovator in quality business education such as their 1-part Start Smart business planning series that is being used nationally. In 211, WWBIC maintained a separate Revolving Loan contract with CDD where $135,7 was used for microenterprise loans and $9,47 for technical assistance costs. Funds for the Revolving Loan contract come from repayment of previously loaned funds. These funds allowed WWBIC to provide 8 new loans, create 1 new FTE jobs and serve 2 unduplicated individuals. In 212, they have $53,492 available for loans and $49,378 for technical assistance in their Revolving Loan contract. WWBIC will leverage City and County CDBG funds with those from the U.S Small Business Administration, Microloan and Office of Women s Business Ownership program, and the U.S. Treasury Community Development Financial Institution. Additional sources of funding are through fundraising donations and user fees. WWBIC has been receiving CDBG funds since 24 and has shown sound fiscal planning and management. WWBIC will utilize local expertise from over 6 volunteers in various professional fields who work one-on-one with clients as coaches, mentors and classroom speakers. They will work with other local agencies such as; Latino Chamber of Commerce and the Madison Black Chamber of Commerce (AABBA), Madison Urban League, UW Small Business Development Center, and the Northside Planning Council to help them reach their target market of women, people of color and low-moderate income individuals. F:\Cdcommon\Sele\SUMMER\ \Staff Reviews\WWBIC.docx

2 Total Cost/Total Beneficiaries Equals: $972,/115=$879 CD Office Funds/CD-Eligible Beneficiaries Equals: $18,/14=$1,285 CD Office Funds as Percentage of Total Budget: 2% F:\Cdcommon\Sele\SUMMER\ \Staff Reviews\WWBIC.docx

3 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: PROGRAM/LETTER: OBJECTIVE STATEMENTS: Wisconsin Women's Business Initiative Corporation A The Microenterprise Development Continuum CDBG: F. Business Development - Micro-business (CDBG) DESCRIPTION OF SERVICES 1. NEED FOR PROGRAM: Please identify local community need or gap in service that the proposed program will address. WWBIC respectfully requests $2, annually for 213 and 214. Each year w e plan to use $16, for loans and $94, for business development services - also know n as technical assistance - including one-onone business assistance and business education. WWBIC is virtually the only provider of micro loans w ith accompanying business development services in the City of Madison. We can make very small loans of $5, or less and w e w ill also loan to startup businesses, a niche most commercial lenders assiduously avoid because of the risk and cost involved. As credit remains tight, WWBIC financing remains the most attainable financing option for the micro business ow ner. WWBIC has w itnessed great need and high demand for loan capital in the form of direct requests our pipeline is full-to-bursting and continues increasing. The key to mitigating risk inherent in small business lending is the individualized business assistance WWBIC provides each loan client. 2. SERVICE DESCRIPTION - Describe the service(s) provided including your expectations of the impact of your activities. While our programs are open to all, w e have significant expertise in our target market of w omen,people of color, and those of low er incomes. In 213 and in 214, WWBIC clients w ill start or expand 5 to 7 new businesses, resulting in 3-5 FTE jobs taken by low -income individuals in each program year. WWBIC has had 8 years of CDBG funding, using these funds to leverage additional federal and local private dollars for the Madison community, and a strong performance legacy. In addition w e leverage local experitise w ith 6 volunteers in various professional fields w ho w ork one-on-one w ith our clients as coaches and mentors and classroom speakers. Our activities and outcomes in 213 and 214 w ill continue the Microenterprise Development Continuum, w hich has consistently proved to be a cost-effective program w ith major economic impact. Since 24,w ith CDBG funds, WWBIC has served more than 1,185 individuals, w ith an average of 62% low -to-moderate income. We have made loans to 45 businesses w hich in turn have created 72 new jobs, of w hich 66 have been LMI FTEs. We anticipating building on this impact base for years to come. WWBIC is a leader and innovator in quality business education for entrepreneurs. We constantly develop and disseminate industry best practices; for example, our 1-part Start Smart business planning series curriculum, available nationally, w as co-authored by WWBIC Director of Impact Initiatives Julann Jatczak. Beginning, i t di t d d d l (i l di S i h l i ) h d l d th h t th 3. PROPOSED PROGRAM CONTRACT GOALS: Include clearly defined service goals and process objectives: number of unduplicated clients to be served, number of service hours to be provided etc. Each year, w e w ill serve 14 unduplicated individuals through business education, technical assistance\ counseling, or financial aw areness education. We w ill provide loans to 5-7 new loan clients w ho w ill create 3-5 new LMI jobs and also serve 23 existing loan clients in each year (number may vary as loans are repaid). We w ill conduct numerous outreach events and w ork closely w ith our partners to identify loan prospects in our target markets. WWBIC has consistently met and exceeded past goals. 4. SERVICE HOURS: Frequency, duration of service and hours and days of service availability. Services take place at our offices, at the Village on Park, as w ell as other easily accessible venues for all, including those w ho are disabled--such as job centers, chambers, community organizations and the client s place of business. Office hours are Monday-Friday, 8:3-5. Workshops are primarily on evenings and w eekends. One-on-one counseling takes place any time at client s convenience. CDBG STANDARD - 1 MAY 2, 212

4 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A The Microenterprise Development Continuum 5. POPULATION SERVED: Please describe in terms of age, income level, LEP, literacy, cognitive or physical disabilities or challenges). Female participants, 73%; male, 27% People of Color in City of Madison, 27% (People of Color are only 11% of Madison s population); Average Age, 43 years; Marital Status, Single/Divorced/Widow ed, 6%; Married 4% Low -to-moderate Income, 76% (21 w as 65%) % Receiving Public Assistance, 48% (211 w as 4%). Public Assistance includes unemployment. Veterans, 4%; People w ith Disabilities, 1%; Entrepreneurial Status (of all clients): Exploring a business idea, 7%; starting or expanding a business, 3% 6. LOCATION: Location of service and intended service area (Include census tract where service is tract specific). Based at our S. Park Street office, w ill serve entire City. Focused outreach in low est MHI neighborhoods (per the Neighborhood Indicators tool), including Allied Drive, Burr Oaks, Sherman, Lakeview. 7. OUTREACH PLAN: Describe your outreach and marketing strategies to engage your intended service population. We reach our target market in many w ays. Word-of-mouth is alw ays pow erful. Our semi-annual class schedule is posted on our w ebsite, delivered in print form to people and community locations, and marketed through our partner agencies. Online class registration is available. Numerous outreach events and meetings include the Annual reception at the Governor s residence and this year s upcoming 25th Year Anniversary Annual luncheon event, attended last year by 7 people. Events feature our WWBIC clients prominently as vendors and speakers. Our businesses often appear in print and electronic new s and feature stories. WWBIC maintains an active presence in the Wisconsin Entrepreneurs Netw ork, an Internet portal of 1 partners throughout the state. We have strong partnerships w ith the State of Wisconsin in all our program areas including the new WEDC. We expect in 212 to receive an increase in referrals from the State s TANF program and other public assistance programs. 8. COORDINATION: Describe how you coordinate your service delivery with other community groups or agencies. WWBIC believes in strategic partnerships to fill gaps w ithout duplication of effort. WWBIC is an active partner other microenterprise economic development organizations w ithin the City, including the Latino Chamber of Commerce and the African American Black Business Association, the Urban League, the UW Small Business Development Center, and the Northside Planning Council, Allied Cooperative Food C art Program, and FEED Kitchen. WWBIC is an active partner in State of Wisconsin events such as The Money Conference and Money Smart w eek. Other partners include the Department of Financial Institutions, The Financial Education Center, the Latino Support Netw ork, The Wisconsin Business Incubation Association, Forw ard Community Investments, MAGNET of Madison, and Thrive, an economic development enterprise for the eight-county Madison region. WWBIC is also in our fifth year of administering the Wisconsin Minority Business Development Loan Fund. 9. VOLUNTEERS: How are volunteers utilized in this program? A cadre of 6 volunteers serves as classroom guest speakers and as coaches and mentors. They have expertise in banking, accounting, and many other fields; and provide valuable business netw orks to WWBIC loan clients. WWBIC s 26 member South Central Advisory Team plays an active leadership role; among its representatives are community volunteers, bankers, professionals. 1. Number of volunteers utilized in 211? 6 Number of volunteer hours utilized in this program in 211? 3 CDBG STANDARD - 2 MAY 2, 212

5 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A The Microenterprise Development Continuum 11. BARRIERS TO SERVICE: Are there populations that are experiencing barriers to the service you are proposing,i.e, cultural differences, language barriers and/or physical or mental impairments or disabilities? Describe the ability of proposed program to respond to the needs of diverse populations. WWBIC s mission emphasis is w omen, people of color and those of low er-incomes those most likely to be disadvantaged in accessing capital and business netw orks. Startup capital from mainstream financial institutions, rare before the Great Recession, now has all but disappeared. CDBG funds w ill help WWBIC to provide capital resources to meet the community s micro business financing demands. Our expertise in w orking w ith low - income and disadvantaged entrepreneurs is unmatched. Microentrepreneurs also face barriers to business education. WWBIC s classes are user-friendly and affordable, w ith no charge for most introductory sessions. Classes are also free of charge to WWBIC loan clients. Scholarships are available for qualified low -income individuals. All classes take place in highly accessible locations on bus lines and are handicapped-accessible. WWBIC is alw ays ready to make additional accommodations to ensure access to our programs. Many microentrepreneurs also face personal credit barriers to success. WWBIC s financial aw areness education programming, Make Your Money Talk, promotes economic self-sufficiency, helps participants master budgeting and saving, and help people overcome their personal financial issues that interfere w ith operating a successful business. We w ork in close partnership w ith the Financial Education Center, w hich is located next door to our offices on South Park Street. Understanding credit and credit repair are part of our financial aw areness curriculum. 12. EXPERIENCE: Please describe how your agency, and program staff experience, qualifications, and past performance will contribute to the success of the proposed program? WWBIC has a history of outstanding CDBG performance, meeting and exceeding our goals. CDBG funds leverage additional $1,s to serve the Madison community. WWBIC is a successful fund raiser, w ith other funding sources including the U.S. Small Business Administration (SBA) Microloan and Office of Women s Business Ow nership programs, and the U.S. Treasury s Community Development Financial Institutions (CDFI) Fund. The CDFI Fund requires us to meet annual performance goals and adhere to financial performance standards. WWBIC Director of Impact Initiatives, Julann Jatczak has led our w ork in Madison over the past decade. She is past Secretary of the national Social Enterprise Alliance Board of Directors. Ms. Jatczak co-authored The NxLeveL Guide, the national curriculum WWBIC uses for its business planning classes. Michelle Dolbeau, Business Assistance Coordinator, meets w ith business ow ners one-on-one to provide customized assistance on an ongoing basis including financial and cash flow analysis, as needed. WWBIC has a strong bi-lingual Spanishspeaking staff w ho, as ethnic Latinos, possess important cultural competences. Fausto Rivera, South Central Loan Officer, has extensive know ledge of financial theories and statistical models w ith a background in financial needs analysis and risk management. Arlene Bollig, Business Assistance Coordinator, has more than 18 years of experience w ith w orking w ith entrepreneurs in Spanish, specifically w ithin the Latino Community. 13. LICENSING OR ACCREDITATION: Report program licensing, accreditation or certification standards currently applied. NA 14. STAFF: Program Staff: Staff Titles, FTE dedicated to this program, and required qualifications for program staff. Staff Title FTE Credentials/Qualifications Lending Staff (3) 3 BA or equivalent experience Director Impact Initiatives 1 BA plus 5 years experience Compliance Coordinator 1 BA or equivalent experience Administrative Specialist 1 HS diploma or GED VP Bus Services - Finance 1 CPA preferred plus 7 years experience Project Director City of Madison 1 BA plus 4-7 years of experience Business Assistance Coord 1 BA or equivalent experience CDBG STANDARD - 3 MAY 2, 212

6 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A The Microenterprise Development Continuum 15. PARTICIPANT INCOME LEVELS: Indicate the number of households of each income level and size that this program would serve in Income Level Number of Households Over 8% of county median income Between 5% to 8% of county median income Between 3% to 5% of county median income Less than 3% of county median income Total households to be served If projections for 214 will vary significantly from 213, complete the following: Income Level for 214 Over 8% of county median income Between 5% to 8% of county median income Between 3% to 5% of county median income Less than 3% of county median income Total households to be served Number of Households 17. AGENCY COST ALLOCATION PLAN: What method does your agency use to determine indirect cost allocations among programs? WWBIC utilizes an indirect cost allocation method calculated using percentage of total agency full time equivalents (FTE s). Say of the seven employees allocated to Madison, employee X is allocated at.4 FTE s, employee Y at.15 FTE s and so on. So if City of Madison FTE s total 1.46, this number is divided by WWBIC s agency w ide number of FTE s, This 4.58% is then applied to operating expenses in order to properly allocate an accurate percentage to CDBG City of Madison. 18. PROGRAM ACTIVITIES: Describe activities/benchmarks by timeline to illustrate how your program will be implemented. Est. Month Activity Benchmark of Completion Education & Technical Assistance Ongoing Business Start-up Workshops Monthly Spanish Language Business Workshops Quarterly Start Smart Business Planning Series March, Sept Financial Awareness Education for Business Owners and Individuals Quarterly Advanced Business Skills Workshops (Quickbooks, Social Media & Marketing) Quarterly One-on-one Business Assistance (in Spanish and English) Ongoing Lending Product and Process Education Ongoing Loan Underwriting, Approval, Closing & Disbursement Ongoing Job Creation and Retention Ongoing Community Outreach & Partnership Development Ongoing CDBG STANDARD - 4 MAY 2, 212

7 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A The Microenterprise Development Continuum DEMOGRAPHICS Complete the following chart for unduplicated participants served by this program in 211. Indicate the number and percentage for the following characteristics. For new programs, please estimate projected participant numbers and descriptors. Part. Part. Staff Staff Part. Part. Staff Staff DESCRIPTOR # % # % DESCRIPTOR # % # % TOTAL 133 1% 32 1% RESIDENCY MALE 36 27% 7 22% CITY OF MADISON 133 1% FEMALE 97 73% 25 78% DANE COUNTY (NOT IN CITY) % UNKNOWN/OTHER % % OUTSIDE DANE COUNTY % TOTAL RESIDENCY 133 1% Part. = Participant AGE <2 % 2-5 % 6-12 % Note: Race and ethnic categories are stated % as defined in HUD standards % % % 75 & UP % TOTAL AGE 133 1% RACE WHITE/CAUCASIAN 8 6% 23 72% BLACK/AFRICAN AMERICAN 19 14% 6 19% ASIAN 3 2% 1 3% AMERICAN INDIAN/ALASKAN NATIVE 11 8% % NATIVE HAWAIIAN/OTHER PACIFIC ISLANDER 1 1% % MULTI-RACIAL: 2 2% % Black/AA & White/Caucasian % % Asian & White/Caucasian % % Am Indian/Alaskan Native & White/Caucasian 1 5% % Am Indian/Alaskan Native & Black/AA 1 5% % BALANCE/OTHER 17 13% 2 6% TOTAL RACE 133 1% 32 1% ETHNICITY HISPANIC OR LATINO 32 24% 2 6% NOT HISPANIC OR LATINO 11 76% 3 94% TOTAL ETHNICITY 133 1% 32 1% PERSONS WITH DISABILITIES 8 6% % CDBG STANDARD - 5 MAY 2, 212

8 COMMUNITY DEVELOPMENT DIVISION PROGRAM DESCRIPTION CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A The Microenterprise Development Continuum PROJECT OUTCOMES Number of unduplicated individual participants served during Total to be served in Complete the following for each project outcome. No more than two outcomes per project will be reviewed. Refer to the instructions for detailed descriptions of what should be included in the table below. Outcome Objective # 1: Performance Indicator(s): Training & Counseling: WWBIC will provide technical assistance to potential, new and existing microenterprise owners. 14 unduplicated participants will be served and at least 51% will be of low-to-moderate income. This includes counseling to 23 existing WWBIC loan clients. Proposed for 213: Total to be considered in 14 Targeted % to meet perf. measures 51% perf. measurement Targeted # to meet perf. measure 71.4 Proposed for 214: Total to be considered in 14 Targeted % to meet perf. measures 51% perf. measurement Targeted # to meet perf. measure 71.4 Explain the measurement tools or methods: Each WWBIC client completes a detailed Client Information form, and when appropriate, a Business Information form. These forms collect extensive demographic and income information which is captured in our cloud-based Outcome Tracker data system. We also track dates of service, service location, time spent and topics discussed. Outcome Objective # 2: Performance Indicator(s): Business Development and Job Creation. WWBIC Loan will create 5-7 FTE jobs, at least 51% of which (3-5) will be taken by low-moderate income individuals. Business owners who receive direct financing from WWBIC, will sign a Terms & Conditioners letter detailing the proposed jobs to be created. Proposed for 213: Total to be considered in 5 Targeted % to meet perf. measures 71% perf. measurement Targeted # to meet perf. measure 3.55 Proposed for 214: Total to be considered in 5 Targeted % to meet perf. measures 71% perf. measurement Targeted # to meet perf. measure 3.55 Explain the measurement tools or methods: WWBIC will make loans to up to seven businesses, which will in turn create at least 7 full-time equivalent jobs. The businesses will receive technical assistance before, during and after the loan. Job creation/retention will be monitored by a WWBIC Business Assistance Coordinator and reported quarterly to CDBG. WWBIC maintains data on job creation for each business based on employee demographic forms. We also submit "Form F" on each business to the CDBG office. CDBG STANDARD - 6 MAY 2, 212

9 ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A Job Title: Business Owner - The Microenterprise Development Continuum 1. PROGRAM BUDGET a. 212 BUDGETED ACCOUNT CATEGORY SOURCE SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS DANE CO HUMAN SVCS DANE CO CDBG MADISON-COMM SVCS MADISON-CDBG 164, 64,982 1,612 1,486 86,92 UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT FUNDRAISING DONATIONS USER FEES OTHER TOTAL REVENUE 164, 64,982 1,612 1,486 86,92 b. 213 PROPOSED BUDGET SOURCE SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS DANE CO HUMAN SVCS DANE CO CDBG Revised Page MADISON-COMM SVCS MADISON-CDBG 2, 86,111 6, , UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT* FUNDRAISING DONATIONS USER FEES OTHER** TOTAL REVENUE 2, 86,111 6, , *OTHER GOVT 213 Source **OTHER 213 Source Amount Terms TOTAL Amount Terms TOTAL

10 ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A Job Title: Business Owner - The Microenterprise Development Continuum PROGRAM CHANGE EXPLANATION Complete only if you are requesting more than your 213 request. Note: Additional funding should only be requested where services or programming will change or expand in the second year. a. PROGRAM UPDATE: If requesting more than 213, describe any major changes being proposed for the program/service in 214, i.e., expansions or narrowing in target population, scope and level of services, geographic area to be served, etc.). b. 214 COST EXPLANATION Complete only if significant financial changes are anticipated between Explain specifically, by revenue source, any significant financial changes that you anticipate between 213 and 214. For example: unusual cost increases, program expansion or loss of revenue. c. 214 PROPOSED BUDGET ACCOUNT CATEGORY BUDGET SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS DANE CO HUMAN SVCS DANE CO CDBG Revised Page MADISON-COMM SVCS MADISON-CDBG 2, 86,111 6, , UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT* FUNDRAISING DONATIONS USER FEES OTHER** TOTAL REVENUE 2, 86,111 6, , *OTHER GOVT 214 Source **OTHER 214 Source Amount Terms TOTAL Amount Terms TOTAL

11 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A Job Title: Business Owner - The Microenterprise Development Continuum 1. PROGRAM BUDGET a. 212 BUDGETED ACCOUNT CATEGORY SOURCE SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS DANE CO HUMAN SVCS DANE CO CDBG MADISON-COMM SVCS MADISON-CDBG 77,8 64,982 1,612 1,486 UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT FUNDRAISING DONATIONS USER FEES OTHER TOTAL REVENUE 77,8 64,982 1,612 1,486 b. 213 PROPOSED BUDGET SOURCE SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS Original DANE CO HUMAN SVCS DANE CO CDBG MADISON-COMM SVCS MADISON-CDBG 94, 86,111 6, UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT* FUNDRAISING DONATIONS USER FEES OTHER** TOTAL REVENUE 94, 86,111 6, *OTHER GOVT 213 Source **OTHER 213 Source Amount Terms TOTAL Amount Terms TOTAL AO: PROGRAM BUDGET A - 1 MAY 2, 212

12 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON ORGANIZATION: Wisconsin Women's Business Initiative Corporation PROGRAM/LETTER: A Job Title: Business Owner - The Microenterprise Development Continuum PROGRAM CHANGE EXPLANATION Complete only if you are requesting more than your 213 request. Note: Additional funding should only be requested where services or programming will change or expand in the second year. a. PROGRAM UPDATE: If requesting more than 213, describe any major changes being proposed for the program/service in 214, i.e., expansions or narrowing in target population, scope and level of services, geographic area to be served, etc.). 2 characters (w ith spaces) (2 lines max.) b. 214 COST EXPLANATION Complete only if significant financial changes are anticipated between Explain specifically, by revenue source, any significant financial changes that you anticipate between 213 and 214. For example: unusual cost increases, program expansion or loss of revenue. 2 characters (w ith spaces) (2 lines max.) c. 214 PROPOSED BUDGET ACCOUNT CATEGORY BUDGET SPECIAL REVENUE SOURCE TOTAL PERSONNEL OPERATING SPACE COSTS Original DANE CO HUMAN SVCS DANE CO CDBG MADISON-COMM SVCS MADISON-CDBG 94, 86,111 6, UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT* FUNDRAISING DONATIONS USER FEES OTHER** TOTAL REVENUE 94, 86,111 6, *OTHER GOVT 214 Source **OTHER 214 Source Amount Terms TOTAL Amount Terms TOTAL AO: PROGRAM BUDGET A - 2 MAY 2, 212

13 COMMUNITY DEVELOPMENT DIVISION COVER PAGE CITY OF MADISON APPLICATION FOR FUNDS 1. AGENCY CONTACT INFORMATION Organization Wisconsin Women's Business Initiative Corporation Mailing Address 23 S. Park St., Sute 13, Madison, WI Telephone FAX Admin Contact Barb Kueny, Director of Development Financial Contact Jon Gaines, Vice President, Business Services and Finance Website Address Legal Status Private: Non-Profit Federal EIN: State CN: DUNS # SIGNATURE PAGE AFFIRMATIVE ACTION If funded, applicant hereby agrees to comply with City of Madison Ordinance 39.2 and file either an exemption or an affirmative action plan with the Department of Civil Rights. A Model Affirmative Action Plan and instructions are available at LIVING WAGE ORDINANCE If funded, applicant hereby agrees to comply with City of Madison Ordinance 4.2. The Madison Living Wage for 213 will be $12.19 (hourly). This reflects a 3% increase over Madison Living Wage for 212, and is consistent with prior annual increases. CITY OF MADISON CONTRACTS If funded, applicant agrees to comply with all applicable local, State and Federal provisions. A sample contract that includes standard provisions may be obtained by contacting the Community Development Division at (68) If funded, the City of Madison reserves the right to negotiate the final terms of a contract with the selected agency. 3. SIGNATURE Enter name: Wendy K. Baumann By entering your initials in the box WKB you are electronically signing your name and agreeing to the terms listed above DATE 5/3/212 COVER PAGE - 1 MAY 2, 212

14 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON AGENCY CONTACT INFORMATION ORGANIZATION Wisconsin Women's Business Initiative Corporation 1. AGENCY CONTACT INFORMATION A Job Title: Business Owner - The Microenterprise DeveSelect an Objective Statement from the Drop-Down Contact: Ruth Rohlich New Prg? No Phone: ruth.rohlich@wwbic.com B Program B Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: C Program C Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: D Program D Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: E Program E Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: F Program F Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: G Program G Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: H Program H Select an Objective Statement from the Drop-Down Contact: New Prg? Phone: 2. AGENCY REVENUE DETAILED BY PROGRAM REVENUE PROPOSED PROGRAMS SOURCE ACTUAL BUDGET PROPOSED A B C D E F G H Non-City DANE CO HUMAN SVCS DANE CO CDBG 5, 4, 4, 4, MADISON-COMM SVCS MADISON-CDBG 8, 77,8 94, 94, UNITED WAY ALLOC UNITED WAY DESIG OTHER GOVT 2,582,325 2,42,745 2,414,768 2,414,768 FUNDRAISING DONATIONS 849, , 54,75 54,75 USER FEES 499, , , ,542 OTHER TOTAL REVENUE 4,6,866 3,61,663 3,663,6 94, 3,569,6 AO: REVENUE - 1 MAY 2, 212

15 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON 3. AGENCY ORGANIZATIONAL PROFILE a. AGENCY MISSION STATEMENT The Wisconsin Women s Business Initiative Corporation (WWBIC) is a statew ide economic development organization focused on business creation, expansion, and sustainability, and job creation and retention in urban and rural areas. We provide access to capital including direct lending, one-on-one business assistance, business education, and financial aw areness education. Our services are open to anyone in Wisconsin, but our mission emphasis is w omen, people of color, and people of low er w ealth and incomes those most likely to be underserved by traditional financial institutions. b. AGENCY EXPERIENCE AND QUALIFICATIONS A quote from a WWBIC Client: WWBIC s professional staff has a profound commitment to truly help small and minority businesses to take the necessary steps to succeed. Each of the individuals I had and have the pleasure to w ork w ith have been instrumental in advancing my goals by providing relevant, practical, and useful information and resources. Thank you! --Gladis Benavides, Ow ner, Benavides Enterprises, Inc., Madison. WWBIC is recognized locally, regionally and nationally as a leader in microenterprise development. Our services cover all phases of business development from business idea generation and evaluation, to business plan w riting and access to capital. We generate job creation efficiently and effectively w hile addressing barriers that individuals face on their journey to self-sufficiency. We provide not only business development, but financial aw areness programming that helps clients put their personal finances in order and position themselves for w ealth-building. WWBIC has had an active presence in Madison since 1995 w hen w e opened our office, and has been aw arded CDBG grants since 24. Our impact on the Madison community has been significant, w ith the creation or expansion of 45 businesses through our loan program that created a total of 72 FTE jobs, 66 of w hich have been taken and held by low -income individuals. Cumulatively, w ith our CDBG aw ards w e have been able to serve more than 83 individuals in Madison, more than half of w hom have been low -to-moderate income. Many of these individuals have our favorite job title, BUSINESS OWNER. Even those education and counseling clients w ho have not yet applied for a WWBIC loan rely on WWBIC for quality, hands-on information not available elsew here in the community. These business ow ners have also created and retained dozens of jobs. If one in three microenterprises in the United States hired an additional employee, the U.S. w ould be at full employment. --Association of Enterprise Opportunity, The Pow er of One in Three: Creating Opportunities for All Americans to Bounce Back, 211. Business creation is job creation. About 18% percent of all businesses in Wisconsin are micro businesses, and employ about 85% of all employees. At 5.3%, the Madison metro area does not have the state s w orst unemployment rate; how ever that number masks many w ho have given up looking for w ork. Thanks to WWBIC, many of these ex-employees reinvent themselves as entrepreneurs. While micro enterprise or small business development is not the solution for every displaced w orker, it is a lifesaver for many - offering opportunities to employ themselves and others w hile generating income to support themselves and their families. According to the Kauffman Foundation, the demographic groups most likely to start microenterprises are less educated individuals - and refugees. WWBIC Statew ide Achievements Over the Past 24 years: 1,221 Businesses directly financed. 6,634 jobs created and retained by WWBIC clients statew ide. $24.8 million loaned to small business ow ners. 4,375 individuals served. Economic Development Achievements in 211 alone 321 businesses assisted w ith startup, expansion or sustainability. 675 jobs created or retained by WWBIC clients. 2.8 jobs on average created by each WWBIC loan client. 3.5 jobs on average retained by each WWBIC loan client. $3.8 million approved in 12 direct loans to business clients. 3,375 people received classroom or individualized education In the City of Madison, w ith last year s CDBG funding in 211, WWBIC: Assisted 17 existing businesses Closed 19 new loans Created 5 new jobs taken and held by low -income individuals Trained 133 individuals, 68 of w hich 51% w ere low -to-moderate income. Already in 212, WWBIC has had a busy year. We have served six existing businesses and 35 individuals, 19 of w hom (54%) w ere low -to-moderate income, and have received nearly $1, in financing requests.. AO: AGENCY ORGANIZATIONAL PROFILE - 1 MAY 2, 212

16 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON 4. AGENCY GOVERNING BODY How many Board meetings were held in 211? 6 How many Board meetings has your governing body or Board of Directors scheduled for 212? 4 How many Board seats are indicated in your agency by-laws? 1 Please list your current Board of Directors or your agency's governing body. William Coleman, Chairman President Coleman and Williams, LTD, 7127 N. Green Bay Road, Milwaukee, WI 5329 Michael McDonagh, Vice Chairman and Secretary Attorney Mallery & Zimmerman, 731, N. Jackson St., Suite 9, Milwuakee, WI 5322 Karin Gale, CPA, Treasurer Shareholder Schenck Business Solutions, W. Park Place, Suite 22, Milwaukee, WI Laurie Benson Owner LSB Unlimited, 56 Nichols Road, Monona, WI Kathryn Andrea, CPA CPA Andrea & Orendorff, 63 76th St., Suite 2, Kenosha, WI Michael Dries Term of Office Director of Communications Diversey, th St., Sturtevant, WI From: mm/yyyy To: mm/yyyy Johnny L. Moutry Jr. Evecutive Director, New Covenant Housing Corporation, Inc., 2331 N. 39th St., Milwaukee, WI 5321 Steve SaLoutos EVP, Metropolitan Banking - Midwest US Bank, 777 East Wisconsin Avenue, Milwaukee, WI 5322 AO: AGENCY ORGANIZATIONAL PROFILE - 2 MAY 2, 212

17 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON AGENCY GOVERNING BODY cont. Beth Wnuk 1335 Braemar Drive, Elm Grove WI Volunteer Wendy K. Baumann President/CVO Wisconsin Women's Business Initiative Corporation, 2745 N. Dr. MLK Jr. Drive, Milwaukee WI 532 Term of Office From: A To: mm/yyyy Term of Office From: P To: mm/yyyy AO: AGENCY ORGANIZATIONAL PROFILE - 3 MAY 2, 212

18 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON AGENCY GOVERNING BODY cont. AO: AGENCY ORGANIZATIONAL PROFILE - 4 MAY 2, 212

19 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON 5. STAFF-BOARD-VOLUNTEER DEMOGRAPHICS Indicate by number the following characteristics for your agency's current staff, board and volunteers. Refer to application instructions for definitions. You will receive an "ERROR" until completing the demographic information. DESCRIPTOR STAFF BOARD VOLUNTEER Number Percent Number Percent Number Percent TOTAL 32 1% 1 1% 9 1% GENDER MALE 7 22% 5 5% 39 43% FEMALE 25 78% 5 5% 51 57% UNKNOWN/OTHER % % % TOTAL GENDER 32 1% 1 1% 9 1% AGE LESS THAN 18 YRS % % 62 69% YRS 3 94% 9 9% 28 31% 6 AND OLDER 2 6% 1 1% % TOTAL AGE 32 1% 1 1% 9 1% RACE* WHITE/CAUCASIAN 23 72% 8 8% 53 59% BLACK/AFRICAN AMERICAN 6 19% 2 2% 3 33% ASIAN 1 3% % 2 2% AMERICAN INDIAN/ALASKAN NATIVE % % 3 3% NATIVE HAWAIIAN/OTHER PACIFIC ISLANDER % % % MULTI-RACIAL: % % 2 2% Black/AA & White/Caucasian % % 1 5% Asian & White/Caucasian % % % Am Indian/Alaskan Native & White/Caucasian % % 1 5% Am Indian/Alaskan Native & Black/AA % % % BALANCE/OTHER 2 6% % % TOTAL RACE 32 1% 1 1% 9 1% ETHNICITY HISPANIC OR LATINO 2 6% % 8 9% NOT HISPANIC OR LATINO 3 94% 1 1% 82 91% TOTAL ETHNICITY 32 1% 1 1% 9 1% PERSONS WITH DISABILITIES % % 1 1% *These categories are identified in HUD standards. AO: DEMOGRAPHICS - 1 MAY 2, 212

20 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON 6. AGENCY EXPENSE BUDGET This chart describes your agency's total expense budget for 3 separate years. Where possible, use audited figures for 211 Actual. The subtotals for the 212 BUDGET and PROPOSED must equal the amounts entered in the ACCOUNT CATEGORIES on the NonCityBudget and program budget worksheets. The "ERROR" message appears until the sum of the line items equals the amount of the subtotals that have aggregated from your NonCityBudget and program budget worksheets Account Description ACTUAL BUDGET PROPOSED A. PERSONNEL Salary 1,478,65 1,41,117 1,425,877 Taxes 112,26 17,874 18,647 Benefits 42,46 35,48 354,668 SUBTOTAL A. 1,992,317 1,868,471 1,889,192 B. OPERATING All "Operating" Costs 1,554,258 1,563,892 1,61,182 SUBTOTAL B. 1,554,258 1,563,892 1,61,182 C. SPACE Rent/Utilities/Maintenance 141,17 169,3 172,686 Mortgage (P&I) / Depreciation / Taxes SUBTOTAL C. 141,17 169,3 172,686 D. SPECIAL COSTS Assistance to Individuals Subcontracts, etc. Affiliation Dues Capital Expenditure Other: SUBTOTAL D. SPECIAL COSTS LESS CAPITAL EXPENDITURE TOTAL OPERATING EXPENSES 3,687,592 3,61,663 3,663,6 E. TOTAL CAPITAL EXPENDITURES 7. PERSONNEL DATA: List Percent of Staff Turnover 14.% Divide the number of resignations or terminations in calendar year 211 by total number of budgeted positions. Do not include seasonal positions. Explain if you had a 2% or more turnover rate in a certain staff position/category. Discuss any other noteworthy staff retention issues, or policies to reduce staff turnover. 6 characters (w ith spaces) (6 lines max.) AO : EXPENSE BUDGET - 1 MAY 2, 212

21 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON 8. PERSONNEL DATA: Personnel Schedule a. Personnel Schedule List each staff position by title. Seasonal Employees should be entered in seasonal section. Indicate if the position meets the Living Wage Exception with an asterisk (*). Indicate the number of 213 Proposed Full-Time Equivalents (FTEs) in each staff position, across all agency programs. Indicate the total salaries for all FTEs in that staff position. Do NOT include payroll taxes or benefits in this table. Indicate base hourly wage for each position. All positions in city funded programs must meet City Living Wage requirements. The Madison Living Wage for 213 will be $12.19 (hourly) PROPOSED FTEs DISTRIBUTED BY PROGRAM Est. Est. Proposed Proposed Hourly A B C D E F G H Non-City Staff Position/Category FTE Salary FTE Salary Wage FTE FTE FTE FTE FTE FTE FTE FTE FTE Lending Staff (3).8 47, , Director Impact Initiatives.1 84, , Compliance Coordinator.15 32, , Administrative Assistant.4 31, , VP Bus Services/Finance.8 9, , Project Director - City of Madison.1 5, , Business Assistance Coordinator.2 4, , President Director of Lending Director of Compliance Project Directors Administrative Manager Technology Manager Loan Officers Loan Operations Staff Accounting Manager Staff Accountant Assistant to Director/Events Coor Financial Awareness Coordinator Business Assistance Education Staff Database Tech Support TOTAL , , TOTAL PERSONNEL COSTS: 389,59 AO: PERSONNEL DATA - 1 MAY 2, 212

22 COMMUNITY DEVELOPMENT DIVISION AGENCY OVERVIEW CITY OF MADISON b. Seasonal Employees Nbr of Total Hourly Seasonal A B C D E F G H Non-City Seasonal/Project Employee ONLY Weeks Hours Wage Earnings # HRS # HRS # HRS # HRS # HRS # HRS # HRS # HRS # HRS TOTAL AO: PERSONNEL DATA - 2 MAY 2, 212