SNEDA’s progress with business assistance continues at a steady pace. Jan Glick, a Seattle-based organizational consultant with clients throughout the Northwest stated, "SNEDA is building a solid foundation in tough circumstances." SNEDA’s current focus comprises:

• Raising funds for a revolving loan fund, a near equity fund and an equity fund and operations
• Providing access to finance for businesses and providing technical assistance to businesses and entrepreneurs in order to create living wage jobs in the neighborhoods
• Coordinating the AmeriCorps* VISTA program that provides SNEDA and six participating agencies with business savvy volunteers. Identifying other potential collaboration opportunities and realizing them, e.g., our collaboration with NRF, the Chamber and Sterling Bank.

We expect to have $220,000 ($45,000 soon and $175,000 before September 2003) as seed capital for our revolving loan fund. We intend to focus on gap financing, where we co-lend with a bank in order to make an otherwise unbankable deal bankable. We are working with local businesses and investors to find financing resources outside Spokane to participate in business projects or commercial real estate projects in the SNEDA area.

We provided technical assistance to 57 SNEDA area businesses, primarily referrals to existing resources, and then followed up to ensure the linkage took place.

We administer an AmeriCorps*VISTA program for six non-profit agencies and ourselves. We have been awarded stipends for 21 positions for three years, which are worth $1,600,000.

SNEDA will continue to use its collective expertise to further the financial best interests of the neighborhoods realizing that one job, one business and one individual at a time will create the economic prosperity we all desire.

NEW FACES

SNEDA welcomes new board member, Gregory Lipsker, an attorney with Workland Witherspoon PLLC. Greg comes highly recommended from several members of the current SNEDA board for his legal experience and especially for his expertise in business startups and business structuring. Greg is already working with the Board's task force on the New Markets Tax Credit.

WHAT’S NEW

Class 101 completed SNEDA’s new web design. With the assistance of three Spokane District 81 interns, the new site should be up and running by May. Look for additions on the new web site as well as a fresh design and easy-to-use menu and links. SNEDA would like to thank Class 101 Coordinator Mike Francisco as well as interns, Kris Wright, Ashley Ross and Damon Wright for their time and hard work.

The Entrepreneur Corps recruitment to fill 12 SNEDA business consultancy positions for August 2003 is in full swing. Position announcements are posted with: AmeriCorps, Internship Program, Monster Trak, Idealist, Volunteer Match and The Peace Corps. Complete position descriptions may be viewed at www.sneda.org. SNEDA’s application procedure requires filling out the on-line application at www.americorps.org, submitting a cover letter and resume directly to SNEDA and agreeing to typical employment screening. These are "stipend volunteer" positions offering a subsistence allowance of $720 per month, health insurance and educational benefits. Contact Don Hornbeck at (509) 444-7633.

Working towards a more unified understanding of the SNEDA business plan, supervisors of SNEDA Entrepreneur Corps assigned to participating agencies met last month with Executive Director Eric Loewe and Board President Chris Venne. Sandy Gill of Northwest Regional Facilitators facilitated the retreat. Realistic expectations, clear communications, explicit workplans and member recruitment were discussed over soft drinks and Subway sandwiches. Organizations participating in the Entrepreneur Corps grant from the Corporation for National and Community Service AmeriCorps*VISTA now include the four neighborhood community centers, Northwest Regional Facilitators, Spokane Neighborhood Action Programs and The Inland Northwest Community Access Network.

MOVING ON

SNEDA Public Information Coordinator, Lori Kinnear has completed her year as an AmeriCorps*VISTA promoting SNEDA and its activities in the community. She will be working with TINCAN (The Inland Northwest Community Access Network) promoting the Neighborhood College for Internet access in Spokane’s low-income communities.