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Created with Fabric.js 1.4.5 economic development enim 10% Commercial Vacancies Opportunities for economic development exist within the community'sexisting commercial corridors. An inventory taken by the CommunityConnectors at APM found xx vacant commercial spaces withinthe community, which have the potential to become centers ofemployment and shopping for our community and Greater Philadelphia. 3 Map of commercial vacancies for Germantown Ave,Lehigh AvenueAmerican STreet5th Street Golden Block2nd Street ad County Business Patterns top 4 employment industries 6 new businesseswithin the target area,helping to createor retain 35 new jobs. 1. Health Care & Social Assistance 33.51%2. Educational Services 30.06%3. Hospitals 24.15%4. Food Service & Drinking Places 10.85% community unemployment rate2010 29.3%2000 24.1% # technical assistance programs in the community jobs in the neighborhood US Census County Business Patterns Total Tax refundsGross Federal Refunds $63,711Gross State Refunds +$2,830 $66,544 6 technical assistance providerswithin the community FinantaEmpowerment GroupNorth Philadelphia Financial Partnership Ceiba's 2011 Tax year data for theSCI target area totaled $66,544 intax returns CIEBA's SCI client demographics 635 business ownersreceived technicalassistancefrom FINANTA 108businessownersparticpated in Finanta's ROSCA program:one-on-one business consultation services, groupworkshops, and credit building/ analysis services.These 108 business owners participated in monthlyeducational workshops, lasting 1-2 hours.Theyeach formed a credit action plan. 6,932 Accompanied by his bulldog, HRH the Duke, Seun Olubodun launchedhis British-inspired clothing line Duke & WInston in 2009, selling t-shirtsat street fairs in the Philadelphia area. After securing a storefront, heapproached Finanta for a loan he would use to fully furnish his show andfill his first round of inventory in preparation for his grand opening.Working with Finanta, Seun has been able to manage his personalexpenses and expand the Duke & Winston brand to include home-wearitems and pet accessories. Seun's line of merchandise has becomeso successful that is can be found in boutiques throughout the UnitedStates and in selected stores in the United Kingdom."Working with Finanta is like having another person in your corner.It's the best resources that I have right now."- Seun 127 workshops hours were attended by 108micro-entrepreneurs, over the course of50 workshops sessions. %vacant Finanta's ROSCA programs covered the following topics:banking; budgeting; credit; marketing; recordkeeping;insurance and legal considerations, among others. Spotlight:Finanta's ROSCA Program was developed in early 2011 and implemented in May 2011in order to adapt to the needs of microbusinesses in Philadelphia. The ROSCA program focuses onpromoting economic opportunity for low- and moderate-income individuals by providing underservedmicro-entrepreneurs with the capital and ifnancial education necessary to attain economicself-sufficiency overtime.Finanta has identified three main barriers for low- and moderate- income entrepreneurs successfullymaintaining or opening a business:1) building or repairing personal credit, 2) accessing capital, and3) obtaining relevant, quality financial education. The ROSCA program addresses these barriers byinverting traditional business development programs by providing capital upfront to a group of like-mindedentrepreneurs. Using the group setting, Finanta provides intensive technical assistance throughmonthly educational workshops, where topics are selected by each individual group. Finanta alsoprovides one-on-one business consultation services and credit-building or -repair services as needed.
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