Presentations text content in Helping minority entrepreneurs succeed
Helping minority entrepreneurs succeed
250 Second Avenue South, Suite 106 www.Meda.net
Minneapolis, MN 55401 phone: 612.332.6332 | fax: 612.317.1002Slide2
We are Meda
Create thriving communities through equal economic participation.
Mission: Helping minority entrepreneurs succeed.
Align the organization to increase its impact on underrepresented minority entrepreneurs.Grow the loan fund from $8 million dollars to $20 million dollars.Serve
the entire entrepreneurial business lifecycle by leveraging strategic partnerships.Expand and diversify funding sources to ensure sustainability and flexibility.Slide4
The problem and the solutionSlide5
We help entrepreneurs build capacity, balance growth and stability, and improve their financial, management, marketing, and human resource systems through our business consultants whom has a wide range of knowledge and expertise.In 2015, Meda served 514 customers whom 48% received 3.5 hours or more.
As of October 31, 2016, our staff provided 8,121 hours of direct service to 476 customers.
Of those customers, 268, or 56% of all customers served during this period, received in-depth consulting of 3.5 hours or more.Currently, Meda has assisted 22 business start-ups and/or acquisitions, which is 110% more than what we achieved in 2015.Slide6
Minority Business Development Agency (MBDA)
The MBDA Business Center is a part of a nation-wide network of thirty-nine centers and is dedicated to the development of Minority Business Enterprises (MBEs) for over 40 years.
Mission:Strengthen the U.S. economy by helping ethnic minority business to create or retain jobs, build economically vibrant socially responsible entrepreneurs, businesses, and communities.
Provides:Strategic Business ConsultingAccess to Capital and Financial ManagementAccess to Customers and markets
Operated by Meda (Metropolitan Economic Development Association)Slide7
MBDA Named Meda the Top Performing MBDA Business Center in the United States on September 22, 2016
(Pictured: Liz-Ann Fraser, Jim Faricy, George Jacobson, Albert K. Shen, Gary L. Cunningham, and Edgardo Rodriguez)
Meda group photoSlide8
Meda’s Loan Fund
Access to capital is the primary demand for minority businesses today.Today, we have $
18 million in unfulfilled loan requests for capitalMeda’s loan fund of nearly $13 million is fully deployed
and is 98% performing.The average salary for employees of companies receiving loan funds from Meda is over $23/hr.Currently, 177 loans in our portfolio in 23 MN counties
2016 total financing is $47.3 million59 companies financed in 20152015 financing secured: $20.6 million, leveraged capital 6:1In 2015, Meda received national recognition for its loan fund by the Goldman Sachs 10,000 Business Initiative.Slide9
Procurement Technical Assistant Center (PTAC)
PTAC is a statewide program providing one-on-one counseling services and training to Minnesota businesses on government contracting. PTAC is administered in partnership with the Defense Logistics Agency (DLA). As of October 31st, we are serving 714 clients whom have obtained $136,550,081
in total awards.Of the amount above, 22% were MBEs whom obtained $56,115,641 of the total awardsIn collaboration with Meet Minneapolis, we were able to successfully propose bringing the National Veteran Small Business Engagement (NVSBE) to Minneapolis
Helping all Minnesota businesses pursue government contractsSlide10
Who are MEDA’s CUSTOMERSSlide11
What Industries does MEDA serve?Slide12
Ideal Commercial InteriorsSlide13
Modern Electrical SolutionsSlide14
MEDA Customer’s ResultsSlide17