Elevate Glynn seeks to help small businesses grow
The Golden Isles Development Authority has launched a new program dubbed Elevate Glynn.
The program, announced at Tuesday’s board meeting, is an initiative designed to provide local entrepreneurs with the capital, education and resources needed to start, grow and expand their businesses. The program was created in partnership with the Lucas Center for Entrepreneurship and donations from the private sector with more than $1 million available for investment to Golden Isles entrepreneurs.
The program brings multiple funding sources under one program, creating a streamlined pathway for businesses at every stage of growth. Ryan Moore, authority president and CEO, said 95% of businesses in the Golden Isles employ less than 50 people, while one in two people working in the county work for those businesses.
“This is a sector of our community that is critically important,” Moore said. “While GIDA is often recognized for its recruitment efforts and supporting industrial development, economic growth also happens one entrepreneur at a time. Elevate Glynn represents a $1 million investment in the people and the businesses already calling Glynn County home, helping them access the capital, mentorship and resources they need to succeed.”
Many businesses supported by the program aren’t ready for a bank loan, but they still need capital to help grow and become sustainable, said Ande Noktes, CEO with the Lucas Center.
“Elevate Glynn and our partnership with GIDA allows us to pair mentorship and education with the financial resources our entrepreneurs need,” Notes said. “Just as importantly, this initiative helps small businesses become bankable, supporting their economic growth in the long run.”
The program’s initiatives include:
A microloan program, which provides loans of $5,000 to $25,000 through the Lucas Center for pre-bankable businesses paired with mentorship and business education.
A revolving loan fund with financing in partnership with local financial institutions for expansion projects, including real estate, construction, renovations and equipment.
Matching grants to support placemaking, innovation, workforce education and aviation-related investments.
“Elevate Glynn is more than a funding program. It’s a long-term investment in Glynn County’s entrepreneurs and the local businesses that drive our economy,” Moore said. “By combining capital, education and strategic partnerships, we’re creating opportunities for businesses to grow, create jobs, and strengthen our economy for years to come.”
Applications for Elevate Glynn are now open. For more information go to goldenislesdev.com/elevate-glynn-initiative/.
About the Lucas Center for Entrepreneurship The Lucas Center for Entrepreneurship is a 501(c)(3) nonprofit based in Brunswick, Georgia, dedicated to creating economic opportunity through entrepreneurship education and resources. The Lucas Center connects founders with the mentors, tools, capital, and networks they need to build thriving businesses on the Georgia coast and beyond. To learn more or connect with the Lucas Center, visit www.lucascenter.com.
On social media: https://www.facebook.com/lucascenterbrunswick/, https://www.linkedin.com/company/lucascenter, and https://www.instagram.com/lucas.center/.
