A new loan and training program offered by Sagehill Community Futures is custom made for budding entrepreneurs with a part-time side hustle who are looking to build.
The Side Hustle Loan and Training Program has just been introduced to spark entrepreneurs to grow their small-scale ideas into viable businesses. Sagehill Community Futures CEO Susan Wehage, along with her staff and board, are always looking for new avenues of support.
“The board and the staff came up with an idea to help aspiring entrepreneurs to start or grow their side-hustle gigs,” Wehage explains. “Some business ideas include dog-walking or house cleaning or making special products like homemade hand soaps or jewelry. So, we thought about what we could possibly do to help them.”
The Side Hustle Lending Program was one of the answers. The program can provide up to $15,000 with a fixed rate of prime plus 2 per cent over a 36-month term. Applicants for the lending portion must reside within the Sagehill programming region.
“They can operate as a solo-venture or partnership on a part-time or seasonal basis,” adds Wehage. “This is a side hustle project to earn extra income or to just do something that they love to do.”
The funds can be used for a wide range of needs – for startup costs, working capital, inventory, or equipment. The loan is available to new proprietors or to those who want to expand existing side hustles.
Additional funds for other needs are available through the range of lending programs that Sagehill operates.
The other component is the Side Hustle Training Program. The independent online program takes new entrants into the business world through a structured and leveled program geared to establishing solid business practices.
The Set-Up module helps with issues like registering a business and becoming a legal entity. Your Ideal Customer helps identify markets and build a customer base. Brand Fun deals with creating engaging logos and visuals. Cash & Flow helps with the nuts and bolts of budgeting and financing. Point of Sale will assist in learning about payment options, websites and banking. Finally, the Be Strategic module helps create your marketing pitch and build partnerships.
More details about the Side Hustle Loan Program or the Training Program are available on the Sagehill Community Futures website.