WWBIC, founded in 1987, is a economic development corporation headquartered in Milwaukee, Wisconsin. WWBIC goal is “Putting Dreams to Work” through its financing and technical assistance to small businesses in Wisconsin. In 2018, WWBIC provided 26,755 counseling and training hours, assisting 5,119 clients, and closed over $7,506,900 (131) in small business loans. Their clients started, strengthened, or expanded 1,429 businesses creating or retaining 3,837 jobs!
One of the tools WWBIC uses to open the doors of opportunity for minority, veteran, women and low-income entrepreneurs seeking small loans and technical assistance is the SBA’s Microloan Program. The organization provides access to critical resources, such as responsible financial products and quality business and financial education. Services are open to anyone but our focus is women, minorities, veterans and people of lower wealth – those most likely to face barriers in accessing financing or educational support.
Adelaida Alvarez is one such entrepreneur that WWBIC assisted through the SBA Microloan program. Adelaida came to WWBIC for help in opening her own nail salon. While she had a great passion for the beauty industry, she didn’t know where to start. Adelaida enrolled in WWBIC’s Start Smart series and took courses on media relations and marketing to build a foundation for her business.
In 2013, WWBIC gave Adelaida needed financing to launch Coquettish Nail Salon on Milwaukee’s South Side. Adelaida continues to receive one-one one support from a WWBIC Small Business Consultant on accounting and financial reporting. Coquettish Nail Salon, a stylish boutique salon experience, has created five new jobs since opening.
Adelaida is an avid WWBIC supporter, attending many WWBIC-sponsored programs and events. She hopes to create additional jobs within the next two years, further expanding her business and giving back to the community. For more information on WWBIC, visit their website at www.wwbic.com.
There are still more stories to come in honor of National Small Business Week, so be sure to check back and read more about how SBA Microloan intermediaries are making a difference in their communities, supporting minority, veteran, women, and low-income entrepreneurs start and expand their small businesses ventures!