News from alt.Consulting
alt.Consulting
The alt.Journal )
January 2005
Table of Contents
  • > Turning Challenges into New Jobs
  • > 2004 Success 'At A Glance'
  • > News: Bringing new sources of capital to the Delta
  • > Working Together
  • > Innovative Partnership with Regions Bank
  • > Putting Memphis Businesses on the FastTrac
  • Greetings!

    Thank you for taking time to review our newsletter. In this first newsletter of 2005 we want to focus on the strategies that exemplify our values and approach to Community Economic Development.

    Julius Walls, Jr., African American CEO of Greystone Bakery, a business that has employed more than 1500 'unemployables' said; "People deserve an OPPORTUNITY but it's not an opportunity if they are not given the RESOURCES to succeed." alt.Consulting's focused business development strategy seeks to identify and provide the resources that help entrepreneurs in low-wealth communities throughout the Mid-South succeed.


    Ines Polonius, Executive Director

    > Turning Challenges into New Jobs

    Intensive managerial assistance to small businesses is alt.Consulting's core competency and the foundation of all growth and programs.

    alt.Consulting helped a woman-owned dog biscuit manufacturing company fully integrate an inventory management system and financial management program.

    Thanks to Regions Bank and the Technical Assistance Loan Pool (See article "Innovative Partnership") alt.Consulting was able to provide technical assistance to Claudia's Canine Cuisine resulting in:

    • 18 jobs saved
    • 32 new jobs added
    • Sales have tripled

    > 2004 Success 'At A Glance'

    • In 2004 alt.Consulting worked with 253 businesses including 143 that received in-depth, one- on-one managerial assistance;
    • Helped 50 businesses start up;
    • Closed 10 SBA Community Express Loans;
    • Helped 2 businesses avoid Bankruptcy;
    • Worked with 5 Delta Municipalities through a partnership with Southern Financial Partners;

    In 2004, alt.Consulting worked with clients to obtain:

    • $412,000 in loans for 9 businesses,
    • $483,000 in loans for ARWBDC Clients,
    • $80,000 in 10 SBA Community Express Loans,
    • $4.2 million for a new building financed by the United States Department of Agriculture and SFP

    > News: Bringing new sources of capital to the Delta

      • alt.Consulting has been certified by SBA as a Community Express Technical Assistance Provider.
      • Since September of 2004 alt.Consulting has closed 10 loans totaling $80,000 through the SBA Community Express Program.
      • alt.Consulting developed a partnership with a National Corporation that manages a Minority Enterprise Small Busines Investment Company (MESBIC). Through this partnership clients throughout the Delta and in Memphis can apply for loans and can also apply to become minority suppliers.

    > Working Together

    Dr. Seniora Matthews, MPH, M.D. is the first African American female psychiatrist in the Eastern Arkansas area in private practice.

    Dr. Matthews is a 2001 graduate of ARWBDC's First Step FastTrac program facilitated by ARWBDC and alt.Consulting staff. She then worked with alt.Consulting to improve financial and management systems.

    Since opening her practice in 2000, Dr. Matthews has established a new location and her client load has grown from 20 to 200.

    In 2004 Dr. Matthews won the Little Rock Regional Chamber of Commerce's Minority Service Provider of the Year award.

    > Innovative Partnership with Regions Bank

    Regions Bank and alt.Consulting have teamed up to help minority, women and rural entrepreneurs in Arkansas, Louisiana and Mississippi by providing affordable, high quality, one-on-one technical assistance. Through a loan from Regions Bank, alt.Consulting is able to provide financing for technical assistance not subsidized by other partners or contracts.

    Through this program alt.Consulting has helped 10 businesses that would not have otherwise been able to afford the services.

    Results include:

    • One client has seen sales increase by at least 50%.
    • A rural business now has positive cashflow and is no longer facing liquidation.
    • Several businesses have financial and management systems in place.
    • A woman owned business was started, acquired financing and is meeting projections.

    > Putting Memphis Businesses on the FastTrac

    The Memphis 2005 Spring Session of Fast Trac begins Thursday, February 3rd. To promote minority business development in downtown Memphis the Center City Commission of Memphis is partnering with alt.Consulting to provide five scholarships for this training series and follow up technical assistance. FastTrac is open to any small business in and around Memphis.

    The link below takes you to our website where you can register for classes.

    There is also a link to the Center City Commission web site below under 'Quick Links'

    Quick Links...


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    alt.Consulting | 516 Tennessee | Suite 234 | Memphis | TN | 38103