Microfinance for Low-Income Entrepreneurs in U.S.

 
$13,345
$6,655
Raised
Remaining
Jul 25, 2013

LEND Spring 2013 News

 

Ellen King opens Hewn Bakery on Dempster, city officials attend

After months of meticulous preparation and high anticipation, LEND client Ellen King opened the wooden doors of Hewn Bakery the morning of June 11.  City officials and friends gathered at the storefront on Dempster Street to sample freshly baked chunks of Ellen’s artisan bread, which her staff hand-mixes, hand-shapes, and naturally ferments daily without the use of any preservatives, chemicals or additives.  In addition to specialty breads, the shop also offers salads and sandwiches based on seasonal vegetables and grains.  

This past year prior to opening, LEND members Salil, Gaurav and Jang worked extensively with Ellen to weigh options before she made the ambitious decision to operate a physical storefront for her baked goods business.  Together, LEND and Ellen explored the risks and costs of opening and financing a venture like Hewn. 

Now, less than two months after its ribbon cutting, Hewn has experienced incredible success as Evanston locals embrace its craftsman’s approach to a traditional staple and philosophy of healthy eating.  With a growing base of neighborhood regulars, Hewn is already making a name for itself in the community, and LEND coulldn't be prouder.

Hewn is located at 810 Dempster St.  Check out Ellen's website and Facebook page to learn more about her story and approach to bread.

Courtesy of evanstonnow.com

Courtesy of hewnbread.com

 

With two new loans, LEND approaches all-time $30,000 lending mark

Less than three months after clearing the $20,000 benchmark in loans to Evanston businesses, LEND has expanded its microlending program to support a local dog care & boarding business and an Evanston-based therapist.

Rex’s Place provides day care, boarding and training services to lucky canines in the North Shore area with over 11,000 square feet of indoor and outdoor play areas. Owner Kathy Lichtenstein is using her microloan to upgrade the facilities to keep her furry customers comfortable in the hot summer months!

Therapist Mary Jackson’s microloan will help her expand the geographical range of her services, as well as her operating hours.

LEND works with popular new Downtown Evanston restaurant Aguas Tortas

LEND staff member Jang Kim works with Juan Jimenez, owner ofAguas Tortas, a six-month-old restuarant in Evanston already known for its authentic Mexican cuisine and welcoming atmosphere.

An experienced restuarateur, Juan invited LEND to take a look at his business model to gain fresh perspective on his cost structuring and profitability.  And of course, LEND staff learned a lot working with a veteran of the food industry!

 

LEND welcomes three new staff members!

As a few members graduated this past June, LEND invited three promising new members to grow the team into the 2013-2014 academic year.

From left, David Kim (2016), Victoria Chi (2016) and Chris Harlow (2016), bring bright personalities and the versatility to span roles and operations within the organization. They are currently undergoing rigourous staff training in client relations and lending, and will begin working alongside veteran staff members at client meetings in the fall.

We are excited to have such dynamic team players on board and look forward to immersing them in LEND's unique culture and mission in their next three years as undergraduates.

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Project Leader

Ashley Augustine

Evanston, IL United States

Where is this project located?

Map of Microfinance for Low-Income Entrepreneurs in U.S.