Three decades of ASSETS

"Historically, we've done a lot of work in Lancaster city," said Kevin Nofziger, business development officer with ASSETS. "But more of our clients are coming from all over the county."

On Tuesday, Sept. 12, ASSETS will celebrate 30 years serving Lancaster with an event at Southern Market, 100 S. Queen St., Lancaster. Doors will open at 5:30 p.m. Tickets, which are necessary to attend the event, called ASSETS at 30, may be purchased at https://assets-at-30.eventbrite.com.

ASSETS was started by the Mennonite Economic Development Associates (MEDA) in an effort to create stateside opportunities for entrepreneurs. "We are a CDFI (community development financial institution)," said Nofziger, who noted the organization plans to expand beyond Lancaster County. ASSETS can offer loans from $1,000 to $50,000. Three main lending products are available: a small business loan of up to $10,000; an impact loan of up to $30,000; and a special Reimagining Our Community loan of up to $10,000 for one year at 1%, accompanied by a 30% matching grant.

Loans are only the beginning of what ASSETS offers. Entrepreneurial training programs and boot camps, which run from six to 10 weeks, include the Business Validator and Incubator classes, housed in the Women's Business Center. ASSETS marketing coordinator Kirsten McWilliams said the Incubator offers entrepreneurs the opportunity to "fine tune strategies within their business and tell (their) story." "At the end, they have this business model to take out to the world," she said. Impact consulting is also available.

ASSETS CEO Jamie Arroyo called the organization a "one-stop shop for starting and growing a business." "Entrepreneurs can come to us to develop a business plan and get in-depth information on financing," he said. "Our biggest strength is that we pair education with training and lending." Arroyo added, "We are going to walk alongside the entrepreneur on their journey."

More information about the organization may be found at http://www.assetspa.org.

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