The Women's Center for Entrepreneurship is a U. S. Small Business Administration's Women's Business Center that provides $150,000.00 per year of funding. One of the requirements of this federal funding is to secure an additional $1.00 for every $1.00 of their grant - another $150,000.00. At this point in time, the WBC is short $75,000.00 of this match requirement and will have no option but to cease operations in August if additional funding cannot be committed.
An example of the support available is Sherri Putnam, a single mother - a resident of Sparta, NJ - a disabled veteran who was running out of unemployment insurance when she went to the Center. She had trained with NextGen, a company that provides software to medical entities so that they may be in compliance with President Obama's new medical initiative of universal reporting. Sherri won their S.E.E.D. Grant Competition (a $5,000.00 grant from a program which was funded by the State, but not re-funded this year) and then secured another $5,000.00 loan from their NJ Microbusiness Credit Program to begin HCI Consulting, LLC. In her first year of business, Sherri reports a six figure profit. She is now seeking her first employee to help her with her administrative work, but also is interviewing additional trainers to expand her business.
Editor's note: Part of the answer to a sagging economy is to stimulate small business growth.