Getting Ahead Program for Business
Inspired by success with its Getting Ahead program for individuals, Lake City Bank and nonprofit Martindale-Brightwood Community Development Corporation partnered last year to introduce the Getting Ahead Program for Business, an innovative partnership to teach financial literacy, provide mentorship and loan seed money to entrepreneurs in the community. Participants attend a multi-session course on financial and business topics that includes budgeting, tax planning, cash flow planning, risk management and insurance. They also work with mentors from the community who help them develop their idea into a working business plan, or improve a business that they’re already operating. Upon completion, participants can borrow from $500 to $5,000 from Lake City Bank for their business. “Small businesses really help our communities grow,” said Gloria Crawford, Vice President, Retail Banking Officer. “It’s great to be a part of a program that helps people take that first step.” The program provides continued mentoring and coaching as participants work on their businesses. “We’ve known for a long time that a strong business and financial grounding really helps a small business succeed,” said Josephine Rogers Smith, Executive Director, Martindale-Brightwood Community Development Corporation. “Lake City Bank and our volunteer mentors have made all the difference in setting up our participants for success.”
Read more about some of our business owners who participated in the Getting Ahead Program below.
Vera Kirtz
City Scene MagazineGetting Ahead Participant Vera Kirtz found herself with a journalism degree and limited opportunities to make her degree and her background work for her. She identified a gap in media outlets in Indianapolis—a community based newspaper for African Americans. She completed the Getting Ahead program, created her business plan and has already begun publishing her new paper. “I love to write, and working in the class and with my mentor helped me confirm my business plan and start publishing,” Kirtz said.
Mark Webster
Real Taste CateringMark Webster has always had cooking and feeding people in his life, regardless of how he earned a living. The former probation officer was a chef at a fraternity house in college, then started catering weddings and parties at church, and worked at it for years. In spite of his hard work, he had a hard time making the business turn a profit, so he used the Getting Ahead program to learn more about the business side of things. “I didn’t grow up in a business environment, so I needed help with making the management and financial side of my business match the great food,” Webster said. “This program helped me build those skills for my business and for a new food truck idea that I want to launch.”
Frances Ray
Mama Rays Specialty SeasoningsYou can’t help but smile when you meet Mama Ray—aka Frances Ray—and smell and taste her delicious seasonings. A friend convinced Ray to take a cooking class where they worked on seasonings. She says the spirit moved her to add sage to the mixture she created. She did, and Mama Rays Low Sodium Seasoning was born. Next, she added a formulation with salt and her line of seasonings began to take off. Customers suggested new flavors—Sea Food, Vegan and Cajun—and demand grew. Participating in the Getting Ahead program and getting a loan has helped her understand how to run the business and grow it slowly in a way she can manage. She currently markets the seasonings by word of mouth and by in-person vending. “I got help with my business plan and learned a lot,” Ray said. “I’ve located a commercial kitchen and have started building my team. The program really helped me determine how to set up and manage the seasoning line as a business.”
