Often these places need start-up loans to get off the ground. I imagine that the Small Business Association figures none too minimally in such endeavors... Emphasis of the following article as per the original:
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Idaho Small Business Development Center — 2003Wisdom Youth Ranch - Arco
Monte MacConnell's drive and determination are backed by a healthy dose of common sense and experience. He has many years of experience working with troubled youth in rural and extreme environments.
Even so, when he started the
Wisdom Youth Ranch two years ago, getting it up and running was anything but easy.
Wisdom Youth Ranch, located in a rural mountain valley outside of Arco, Idaho, is a facility that works with troubled youth and youth looking for growing and challenging experiences.The youth ranch has been successfully operating for over a year now, but there were several hurdles in getting it started. First was capital. Monte initially worked with private investors to raise the majority of the money necessary to purchase property and build most of the needed structures.
Able to accomplish most of his initial goals, Monte still struggled to raise the balance of the finances required for a smooth and secure startup. He solicited all of the standard financial institutions and banks in the area but was turned down at every juncture. As a startup business, he lacked a sound historical track record and most banks were unfamiliar with his business. Additionally, he found that without a business plan he had little if any hope for success.
Monte turned to the
Idaho Small Business Development Center in Idaho Falls for help. With a little coaching and direction he was able to write a successful business plan and received substantial funding in the later part of 2002. Monte enlisted the help of many other individuals from various sources, including the local economic development specialists in his county.
Wisdom Youth Ranch is now having a wonderful impact on the economy of
Butte County and has received some very positive press coverage. Many of the students come from out of state and around the country.
Wisdom Youth Ranch now has nine full-time and two part-time employees and with the new funding in place, Monte is poised to double the size of his business as well as provide his students with a higher quality of experience.
Updated 8/19/2009 4:27:04 PMSite Content © 2010, Idaho Small Business Development Centers
