The chief executive officer of Flagship Enterprise Center in Anderson has announced plans to retire. Chuck Staley, who has served in the role since 2003, says he will step down by the end of the year while the center's board of directors searches for a successor.Read More
The microgrid will enhance power surety, energy resilience, distributed generation management and demand response, while contributing to the critical power needs of nearby military installations
09/12/17, 03:08 PM
ANDERSON, IN, September 12, 2017 — Go Electric Inc., a provider of advanced energy solutions, announced today it has been awarded a $499,506 contract by Electricore, Inc. for a demonstration microgrid project at the Fort Custer Training Center in Michigan. The project is funded by the Environmental Security Technology Certification Program (ESTCP), a Department of Defense program for promoting the transfer of proven innovative technologies into field use.
Go Electric will deliver a 400 kW/160 kWh battery energy storage system (BESS) and will provide engineering support for the installation and commissioning of the BESS into a facility-wide microgrid. Go Electric will also support the integration of a microgrid controller provided by power management company Eaton.
Electricore, a non-profit consortium formed at the request of the Department of Defense to implement advanced energy, transportation and electronics technologies, is leading the project with support from Eaton and local utility Consumers Energy. The Michigan Army National Guard, which utilizes Fort Custer alongside several other units, is hosting the project. The microgrid will enhance power surety, energy resilience, distributed generation management and demand response, while contributing to the critical power needs of nearby military installations. In addition to the 400 kW BESS, the microgrid includes 1.375 MW of legacy diesel generators and 720 kW of photovoltaics (PV).
"Electricore is delighted to have Go Electric on the project team," said Deborah Jelen, Program Manager of Electricore. "Go Electric's previous work on the Camp Smith SPIDERS microgrid project will be valuable experience to bring to the Fort Custer project."
"We are pleased to deliver our third military microgrid project. Our continuing collaboration with Department of Defense microgrid programs will further grow and validate our technology," said Lisa Laughner, CEO and President of Go Electric.
Environmental Security Technology Certification Program (ESTCP) is Department of Defense's environmental technology demonstration and validation program. The Program was established in 1995 to promote the transfer of innovative technologies that have successfully established proof of concept to field or production use. ESTCP demonstrations collect cost and performance data to overcome the barriers to employ an innovative technology because of concerns regarding technical or programmatic risk, the so-called "Valley of Death."
About Electricore, Inc.
Electricore is a 501(c) (3) non-profit organization established in 1993 at the request of the US Department of Defense, Defense Advanced Research Projects Agency (DARPA) to develop advanced technology. Since 1993, Electricore has developed and managed many multi-partnered research programs, producing breakthroughs in the field of Energy, Transportation and Electronics. Electricore is a unique consortium among private and public sector organizations, federal agencies, corporations, small businesses, universities, and research institutions. Electricore is constantly seeking to address the tough issues facing our nation by building world class teams and conducting ground breaking programs.
About Fort Custer Training Center
The Fort Custer Training Center is federally owned and state-operated by the Michigan Army National Guard. The 7,500-acre facility was built in 1917 and was used for operations in World War I and expanded during World War II. Today, Fort Custer's training facilities are used by the Michigan National Guard, the U.S. Navy, the U.S. Army Reserves, and other branches of the armed forces. Many Reserve Officer Training Corps students from colleges in the Midwest train at Fort Custer, as do members of the FBI, Michigan State Police, and county and city law enforcement agencies. The U.S. Army Tank and Automotive Command is one of the largest agencies that uses Fort Custer training resources.
About Go Electric Inc.
Go Electric Inc. is a provider of customer-side-of-the-meter battery energy storage solutions that deliver uninterruptible power to facilities, lower energy costs, integrate renewables and provide grid-stabilizing energy services to utilities. Our launch product LYNC DR is transforming the battery UPS industry by turning a customer's costly equipment purchase into an income-earning profit center. Go Electric is headquartered in Anderson, Indiana at the Flagship Enterprise Center and has offices in Brooklyn and Honolulu. More information about Go Electric can be found at goelectric.com.
Molly Rafelson, 866-945-9445 ext. 707
Flagship Enterprise Center was presented the Mission Lender of the Year award by the SBA at the 2016 SBA Indiana Lenders Forum.
For the second consecutive year, the SBA honored the micro lender for its nationally recognized work with startup and early state businesses including financing, technical assistance and consulting.
In receiving the award Flagship Loan Director, Adam Hoeksema remarked that the Flagship appreciated the SBA for its continued support and recognition of microlending in Indiana.
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA micro lender in Anderson, Indiana.
Flagship Enterprise Center (Anderson, IN) announced its Loan Program has exceeded the $10 million mark in total loans closed.
Since 2010 the Flagship has closed on 375 loans throughout Central Indiana. Of those loans over 200 have funded women, minority, and veteran owned businesses. 275 of the loans have been received by low to medium income business owners.
The Flagship is the second leading SBA microlender in the nation according to statistics released by the SBA and the largest SBA Community Advantage lender in the state of Indiana.
For more information or to apply for a loan visit www.flagshipmicroloan.org.
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and small business microlender in Anderson, Indiana.
Anderson, IN – Scout & Zoe’s was recently recognized as one of the “Best Entrepreneurial Companies in America” by Entrepreneur magazine’s Entrepreneur 360™ List, the most comprehensive analysis of private companies in America. Based on this study forged by Entrepreneur, Scout & Zoe’s is recognized as a well-rounded company that has mastered a balance of impact, innovation, growth and leadership.
“We are truly honored to be named by Entrepreneur magazine as one of the best entrepreneurial companies in America and to appear on the annual Entrepreneur 360™ listing,” says Cindy Dunston Quirk, Chief Executive Officer and Chief Dog Lover of Scout & Zoe’s. “Our passion and dedication to providing superior premium products for pets across the world guides our daily efforts. We are elated to be recognized for our devotion to pets on such a prominent national level.”
“Our annual evaluation offers a 360-degree analysis of the current private-business landscape,” explains Lisa Murray, Chief Insights Officer of Entrepreneur Media, Inc. “Top performers are determined by how well-rounded they are in these four key operative areas. Entrepreneurship is a complex endeavor—this listing recognizes those who have mastered the challenge and are thriving this year.”
Scout & Zoe’s, located in Anderson, IN has created antler dog chews and natural treats for seven years. The brainchild of Cindy Dunston Quirk, the company began as a way of solving a chew issue for her German Shepherd, Zoe, who had allergies. From the humble beginnings in her garage, the company now has a global footprint.
Honorees were identified based on the results from a comprehensive study of independently-owned companies, using a proprietary algorithm and other advanced analytics. The algorithm was built on a balanced scorecard designed to measure four metrics reflecting major pillars of entrepreneurship—innovation, growth, leadership and impact.
“The Entrepreneur 360 List celebrates outstanding companies for the value they bring to the world, not just the worth of their company,” says Ryan Shea, president of Entrepreneur Media, Inc. “The companies on this list exemplify growth, not just in top and bottom line, but in their ability to create a superior value for their customers, build adaptive learning cultures, and drive innovation in their marketplace.”
To learn more about Scout & Zoe’s, visit www.scoutandzoes.com
For additional details on the Entrepreneur 360 List and the companies recognized, visit: entrepreneur.com/360companies
ABOUT SCOUT & ZOE’S
Founded by Cindy Dunston Quirk as a way to provide an allergy-free chew for her beloved German Shepherd, Zoe, Scout & Zoe’s is dedicated to providing premium quality, eco-friendly products for pets of all shapes and sizes. With love and care in every bite, all of their products are designed to promote a healthy, happy and active lifestyle for pets and their families. Scout & Zoe’s offers natural treats and antler chews, which come in a variety of sizes for dogs and other animals. To learn more about Scout & Zoe’s or order products for your pet, go to www.scoutandzoes.com or call (317) 457-7222 to find a retail outlet near you.
Follow Scout & Zoe’s on Facebook at ScoutAndZoes or on Twitter @ScoutAndZoes.
ABOUTENTREPRENEUR MEDIA INC.
For nearly 40 years, Entrepreneur Media Inc. has been serving the entrepreneurial community providing comprehensive coverage of business and personal success through original content and events. Entrepreneur magazine, Entrepreneur.com, and publishing imprint Entrepreneur Press provide solutions, information, inspiration and education read by millions of entrepreneurs and small business owners worldwide.
To learn more, visit entrepreneur.com.
Flagship Enterprise Center (Anderson, IN) announced it has received authorization from the Small Business Administration (SBA) to expand their lending territory. In addition to the 24 counties in Central Indiana, Flagship can now make microloans in Monroe, Tippecanoe, Montgomery, Clinton and Brown counties. The 29 counties will now include:
Bartholomew, Blackford, Boone, Brown, Clinton, Decatur, Delaware, Fayette, Franklin, Grant, Hamilton, Hancock, Hendricks, Henry, Howard, Jay, Johnson, Madison, Marion, Monroe, Montgomery, Morgan, Randolph, Rush, Shelby, Tippecanoe, Tipton, Union and Wayne.
Through June 30, Flagship has closed over $7.5 million in loans covering early stage projects including over 170 minority, women, and veteran owned businesses. Visit www.flagshipmicroloan.org to learn more or apply for a loan.
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA micro lender in Anderson, Indiana.
Flagship Enterprise Center (Anderson, IN) announced it has just closed on a $1.25 million loan from the Small Business Administration (SBA). According to Adam Hoeksema, Flagship Loan Program Director, the funds will be used to provide small business loans up to $50,000 throughout a 24 county region in Central Indiana.
Since the inception of the microloan program in 2010, Flagship has closed 280 loans totaling over seven million dollars. Approximately 50% of these loans are to startups less than 2 years old including over 160 loans to minority, women, and veteran owned businesses.
“This new loan is vital to our ability to continue to meet the demand for the microloan program. The funding will allow the Flagship to make an additional 60 loans over the next 12 months to growing small businesses across central Indiana” Hoeksema said.
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA microlender in Anderson, Indiana.
NEW YORK, NY – June 7, 2016 – Urban Future Lab, New York City’s hub for smart cities, smart grid, and clean energy, announced today that it has accepted Go Electric Inc. into its ACRE business incubator. ACRE is a highly selective mission-oriented incubator program focused on supporting cleantech startups. Go Electric Inc. is a green-tech early stage company developing customer side of the meter energy solutions and services that serve facilities and utilities.
“We are thrilled to be a part of ACRE and growing a strong company presence in New York,” said Lisa Laughner, President & CEO Go Electric Inc. “We look forward to learning from the flagship program, and collaborating with other ACRE companies on energy opportunities in New York.”
Go Electric is currently providing innovative energy solutions to New York City as an awardee of the RISE:NYC program. The RISE:NYC award is delivering Go Electric’s LYNC DR® equipmentto four small businesses in Brooklyn and Rockaway Beach. LYNC DR® provides energy security 24/7 and lowers energy costs for the businesses through peak shaving, power quality correction, load shifting and demand response.
“We are delighted to have Go Electric join the ACRE incubator. Their offering is an excellent additional component in the market toolkit that will make Governor Cuomo’s Reforming the Energy Vision a success. Their ability to give participatory microgrid functionality to existing uninterrupted power supply systems is an extremely clever adaption of existing infrastructure,” said Pat Sapinsley, Managing Director of the Urban Future Lab / ACRE.
Located in Downtown Brooklyn, the Urban Future Lab and ACRE are a part of the NYU Tandon School of Engineering. ACRE is currently home to 17 early stage companies, with another 16 that have graduated from the program. Together, these 33 companies have employed more than 300 people, and raised more than $313 million in private capital and project financing.
ABOUT GO ELECTRIC INC.:
Go Electric Inc. is a green-tech startup turning the uninterruptible power industry upside-down with LYNC DR®: the only UPS that provides secure power, lowers facility energy costs and integrates site renewables. LYNC DR® also offers utilities a unique demand response solution for their customers with a “give it away for free” business model. Go Electric Inc. is headquartered in Anderson, Indiana at the Flagship Enterprise Center and has offices in Brooklyn and Honolulu. For more information, visit www.GoElectricInc.com or contact Lisa Laughner at Lisa@goelectricinc.com.
ABOUT THE NEW YORK UNIVERSITY TANDON SCHOOL OF ENGINEERING
The NYU Tandon School of Engineering dates to 1854, when the NYU School of Civil Engineering and Architecture as well as the Brooklyn Collegiate and Polytechnic Institute (widely known as Brooklyn Poly) were founded. Their successor institutions merged in January 2014 to create a comprehensive school of education and research in engineering and applied sciences, rooted in a tradition of invention, innovation and entrepreneurship. In addition to programs at its main campus in downtown Brooklyn, it is closely connected to engineering programs in NYU Abu Dhabi and NYU Shanghai, and it operates business incubators in downtown Manhattan and Brooklyn.
ABOUT URBAN FUTURE LAB / ACRE
The Urban Future Lab (UFL) at the NYU Tandon School of Engineering is New York City’s premier innovation hub for smart cities, the smart grid, and clean energy. The UFL is home to programs focused on policy, education, and market solutions for the green economy. ACRE, the UFL’s flagship program, is a business incubator that supports the growth of high-impact early-stage venture companies addressing climate change. ACRE incubator companies receive business advisory services, introductions to investors, access to mentors and channel partners, as well as desk space at an office in downtown Brooklyn. The UFL and all its programs are supported by NYSERDA, NYC EDC, National Grid, Cushman & Wakefield, and Lowenstein Sandler. More at http://ufl.nyc.
Go Electric Inc today announced it has closed a $4,000,000 Series A investment. The investment round was led by GXP Investments, Inc., the investing arm and wholly owned subsidiary of Great Plains Energy Incorporated, and included Elevate Ventures and the Clean Energy Trust. The funding will support GoElectric’s LYNC DR® product line, grow the Go Electric team, and expand the company’s energy solutions into utility demand response markets across the country. In addition, GXP Investments will add two seats to the Go Electric Board of Directors.
“Go Electric’s unique business model and technology are game changers for utility demand response markets,” said Dennis Odell, Director, GXP Investments. “Go Electric’s LYNC DR® solution offers utilities the ability to use their customers’ energy resources for demand response without any interruption to customer operations. And the company’s ‘give it away for free’ business model is industry leading for implementing customer-side-of-the-meter demand response systems.”
“Elevate Ventures is pleased to invest alongside GXP Investments,” said Chris LaMothe, CEO of Elevate Ventures. “The energy sector is a pillar industry for Indiana and Go Electric is poised to reshape how energy services are delivered and grow this sector in a unique way.” “We are excited to have GXP Investments on board to guide the company’s growth”, said Lisa Laughner, President & CEO Go ElectricInc. “Having an investor with their credibility in the demand response market is an important attestation to our vision for the industry. With Elevate Venture’s investment, we look forward to adding high-tech jobs in Indiana and further expanding Indiana’s national leadership in the energy sector.”
Go Electric has military and commercial customers in Hawaii and New York, and recently completed a three MW operational demonstration at Camp Smith, HI for the SPIDERS Phase III micro grid project. The company is delivering four systems for the RISE:NYC program and was recently awarded the Wells Fargo IN2 award.
About GXP Investments
GXP Investments is the non-regulated investment affiliate and wholly owned subsidiary of Great Plains Energy Incorporated. GXP Investments provides growth capital and strategic value to businesses within the energy value chain. As a strategic investor, GXP Investments’ goal is to partner with early stage companies as they grow their businesses and expand their market share. GXP Investments focuses on opportunities in the customer energy solutions and energy infrastructure industries, and is open to attractive investments outside of these sectors within the energy value chain. Learn more about GXPI atwww.gxpinvestments.com.
About Elevate Ventures
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long-term. As a not-for-profit organization, Elevate Ventures is able to offer unbiased, in-depth perspective and recommendations. To learn more about Elevate Ventures, its team and its funds under management, visit www.elevateventures.com.
Copyright © 2016 Go Electric, Inc., All rights reserved.
About Go Electric
Go Electric Inc. is a greentech startup company developing energy resiliency solutions. Our products and energy services provide uninterruptible power, renewable energy integration, and automatic demand response.
The Flagship Enterprise Center Microloan Program is now closing 82% of all microloans in the state of Indiana according to data released by the Small Business Administration (SBA). With a total loan amount nearing $1.5 million for 2015, 94% of all SBA microlending dollars in Indiana are loaned through The Flagship.
Up from 2014 when the Anderson based microlender closed 79% of the loans and 85% of the dollars, The Flagship Loan Program continues to grow at a record pace.
The Microloan program provides loans up to $50,000 to help small businesses and certain non-profit childcare centers start up and expand. The U. S. Small Business Administration provides funds to specially designated intermediary lenders, which are non-profit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.
About Flagship Enterprise Center
The Flagship Enterprise Center (FEC) (www.flagshipenterprise.org) is a regional technology-based business incubator and SBA micro-lender in Anderson, Indiana. The Flagship Microloan Program was established in 2010 to assist FEC clients and partners with small businesses to provide financial services and resources that foster economic development in underserved communities. Created through a partnership between the city of Anderson and Anderson University, the FEC lending programs have helped create over 200 loans and provide small business loans totaling more than $3.5 million. To apply for a microloan, potential borrowers may contact Adam Tidrow at (765) 622-0100 or firstname.lastname@example.org.
August 4, 2015 President Obama hosted the first-ever White House Demo Day focused on inclusive entrepreneurship, welcoming 32 startup founders from diverse walks of life and from across the country to showcase their innovations.
Go Electric received a personal invitation from the Office of Science and Technology Policy to participate in the event.
Forbes.com included Go Electric in their FOUR COOL NEW BUSINESS TECHS...BROUGHT TO YOU BY THE WHITE HOUSE. Read article here.
TECH.CO named Go Electric on its 10 HOT STARTUPS FROM THE WHITE HOUSE DEMO DAY. Read here.
Help in short supply for entrepreneurs in Indy
August 29, 2015
The recent letter from Jack Klemeyer about Indiana ranking 47th in startups [What does ranking say about Hoosiers, July 16] hit home for me. I understand why entrepreneurs and startup businesses are reluctant and struggle here in Indiana. It’s been just about a year since I opened my business, Record Grabber, in Indianapolis.
During this last year, the growth of my business has been significant and hard won. I started out making cold calls from my kitchen table to get my first client and now lease office space and employ five people. My business may not be a huge benefit in the eyes of the city or state, but it makes a real difference to the six people here.
In part, my success has been from guidance and help I received from the Indiana Economic Development Corp. Amisha Patel helped me obtain a Skill Enhancement Grant, which allowed me to take some chances that I otherwise would not have had in attending conferences and trade shows. I made connections there that have been important, including clients, colleagues and resources.
I looked for groups, opportunities and support to help me learn and grow as a business owner and professional. Although people were understanding and open here in Indianapolis, it was a connection to the Flagship Enterprise Center in Anderson that has been the most beneficial for me.
I joined the 30U Mastermind Group there, which has proven to be invaluable meeting after meeting. The support and resources at Flagship have been incredibly instructive, and I appreciate the opportunity to participate.
Getting back to what Mr. Klemeyer commented on, it has been disappointing to me that small-business owners, especially startups, have so few resources here in Indianapolis. I am so thankful for Flagship that I make the drive to Anderson, taking extra time away from my business because it is important to me as the owner of a growing enterprise.
I can only imagine where my company would be if practical, financial and educational support and guidance were in greater supply to entrepreneurs here in Indy.
Award part of $4 million allocated by the SBA to support startup growth, viability and ability to make an economic impact in the U.S.
INDIANA – Flagship Enterprise Center is the recipient of the U.S. Small Business Administration’s 2015 Growth Accelerator award. The $50,000 award is part of $4 million the federal agency has allocated in its Growth Accelerator Fund Competition to support startup growth, viability and ability to make an economic impact in the U.S.
“An accelerator such as Flagship is a valuable resource to Anderson and surrounding cities-for assisting startups,” SBA’s Indiana District Director Stacey Poynter said. “With this award, we are proud to support it in its efforts to assist small business success, make a local economic impact, and ensure a diverse set of entrepreneurs have the opportunity to participate in our country’s innovation economy.”
Since the Growth Accelerator Fund’s inception in 2014, more than 5,100 jobs have been created or sustained, more than 1,450 startups have been served and nearly $550 million of capital has been raised by the startups. This year, the SBA awarded $4 million to accelerators to continue building the support structure needed to help start-ups become commercially viable and create jobs more quickly.
Similar to last year’s competition, several panels containing expert judges from the private and public sector with collective experience in early stage investing, entrepreneurship, academia, start-ups and economic development selected the more than 80 winners. The panel gave particular attention to applicants that fill geographic gaps in the accelerator and entrepreneurial ecosystem space and are run by or support women or other underrepresented groups.
“Indiana has a rich history in manufacturing technology and innovation, this SBA Growth Accelerator grant will allow the Flagship to build on that history by further supporting innovative manufacturing technology companies that will create jobs and bring investment to our region. The grant funds will be used to implement programming that will help accelerate the growth of a number of companies in the advanced manufacturing sector,” said Adam Hoeksema, director of loan programs for Flagship.
In accepting the $50,000 cash prize from the SBA, Flagship Enterprise Center commits to quarterly reporting for one year and is required to report metrics such as jobs created, funds raised, startups launched and corporate sponsors obtained among other detail. The SBA will include this in a database of accelerators and their impact, and continue to develop long-term relationships with the startups and constituents in these innovative and entrepreneurial communities.
“We look forward to having Flagship continue to provide critical startup elements, including a physical infrastructure in infancy, mentoring, business development assistance, venture capital opportunities and various networking introductions that help to ensure local small businesses flourish,” Poynter continued.
About the Growth Accelerator Fund
The Growth Accelerator Fund Competition launched in 2014 with $2.5 million in appropriated funds, presenting an opportunity for the SBA engage with and support organizations whose sole purpose is to help startups grow, become commercially viable, and have a real and sustained economic impact. Its goal is to get an extra infusion of capital to qualified accelerators and the burgeoning ecosystem in which they play, which, in turn, provides resources to boost the startup and entrepreneurship communities around them. In its first year alone, the SBA reached entrepreneurial ecosystems in 49 states (all but Alaska) and provided 50, $50,000 awards across 31 states, Washington, D.C. and Puerto Rico. SBA also reached some of the most overlooked areas for startups with an explicit focus on awarding accelerators that support the underserved, women, the maker community and geographic regions which traditionally have limited access to capital. For more information, access www.sba.gov/accelerators.
About Anderson Flagship Accelerator
The mission of the Flagship Enterprise Center (FEC) is to be a premier technology-based business center, creating, growing and attracting jobs, and contributing to the long-term economic development of the communities of Anderson, Madison County and the state of Indiana. The FEC will pursue its mission through the encouragement and nurturing of the entrepreneurial and business spirit by offering mentoring, business services, networking and educational opportunities, access to capital, and debt financing.
August 4, 2015 Anderson Indiana-based green tech startup Go Electric is in Washington, D.C., today to pitch at the first-ever White House Demo Day, hosted by President Barack Obama.
White House Demo Day features startups from across the nation demonstrating their company’s innovations and founding stories. Unlike a private-sector Demo Day, where entrepreneurs “pitch” their ideas to funders, entrepreneurs will join President Obama to “demo” their individual success stories and show why we need to give every American the opportunity to pursue their bold, game-changing ideas.
Go Electric is developing energy services solutions that accelerate a renewable energy future for America. The company’s patented LYNC™ technology seamlessly integrates solar, wind, generators and batteries; optimizes those energy resources and delivers energy services that stabilize the grid and ensure businesses have secure, low cost power 24/7. Go Electric was founded in 2011 in Anderson, Indiana by Lisa Laughner, and has grown to five employees and over $2 mil in revenue.
The White House Demo Day event will be webcast live at www.whitehouse.gov/live , starting at 3:40 pm EDT
Financing Will Boost Small Business Growth for Hoosiers
Anderson, IN - July 20, 2015 – The Flagship Enterprise Center today announced it has received a $750,000 low-cost loan from PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), for its Flagship Microloan Program, which helps provide capital to underserved small businesses and startups in 24 lender-approved counties statewide.
The new capital from PNC will provide pool funding to support microloans at an average of $15,000 over the course of seven years. Microloans provide gap financing for small businesses that aren’t yet ready for traditional bank financing. Borrowers may be eligible for up to $50,000 in loans and must operate in Flagship’s approved lending area.
“PNC was the first bank to invest in our micro-lending pool and we’re grateful for that. More importantly, they understand our vision to help create a stronger Indiana, one microloan at a time,” said Charles Staley, president and CEO of Flagship Enterprise Center. “This partnership will enhance our ability to provide affordable lending products and services to Hoosier entrepreneurs who are critical to job creation and economic growth statewide.”
Additionally, the new capital will be used to increase opportunities state-wide in an effort to grant more entrepreneurs access to much-needed alternative financing.
“PNC has a long-standing commitment to invest in the communities where we live and work,” said Patricia Gamble-Moore, PNC vice president of community development banking in Indiana. “The Flagship Microloan Program will benefit the overall economy by bolstering small business growth and financial sustainability in the region.”
Since 2010, the Flagship Microloan Program has provided 81percent of all SBA microloans in Indiana and has supported more than 50 women-owned, 30 minority-owned, and 20 veteran-owned small businesses.
The funding is provided through PNC Community Development Banking (CDB), a distinct line of business within PNC's retail bank that is primarily engaged in activities that strengthen low- to moderate-income (LMI) people and geographies. CDB is the primary interface with organizations engaged in affordable housing, economic development, financial education, community services for LMI individuals, and revitalization and stabilization of LMI areas.
The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
About Flagship Enterprise Center
The Flagship Enterprise Center (FEC) (www.flagshipenterprise.org) is a regional technology-based business incubator and SBA micro-lender in Anderson, Indiana. The Flagship Microloan Program was established in 2010 to assist FEC clients and partners with small businesses to provide financial services and resources that foster economic development in underserved communities. Created through a partnership between the city of Anderson and Anderson University, the FEC lending programs have helped create over 200 loans and provide small business loans totally more than $3.5 million. To apply for a microloan, potential borrowers may contact Adam Tidrow at (765) 622-0100 or email@example.com.
By KEVIN L. GREEN firstname.lastname@example.org
A public-private partnership designed to assist small businesses has caught the attention of local economic development leaders.
Dirk Webb, operations manager at Flagship Enterprise Center in Anderson, recently shared information with the New Castle-Henry County Economic Development Corporation Board of Directors about FEC including its regional approach to fostering small business growth in a multi-county region that includes Henry County.
FEC is a regional business incubator and advanced stage business center supported by the City of Anderson, Anderson University, Purdue University, IVY Tech Community College, the Small Business Administration, the Indiana Economic Development Corporation, the U.S. Department of Commerce Economic Development Administration (EDA) and others.
It also serves as the leading Small Business Administration micro-lender in the state of Indiana. Webb said 81 percent of the micro-loans made to small businesses in the Hoosier state originate with Flagship Enterprise Center.
“We are an authorized lender in Henry County. We’re able to work with small businesses who maybe have had some difficulties getting off the ground because of funding and we can work with local banks to address that,” Webb said. “We work with the banks in some cases to make a loan and then work with our technical assistance grants to give our clients needed coaching and help along the way.”
The ultimate goal is to make their clients “bankable” again after their loan with FEC has been satisfied, Webb added.
Flagship Enterprise Center offers tools the local EDC office currently doesn’t have, according to EDC board of directors chairman Jon Madison.
“We have our own enterprise loan fund, but some of the other services Flagship can offer. I think we certainly need to discuss partnering with them to see what opportunities we can bring to Henry County,” Madison said.
Persons considering starting a small business or those already in business in need of some working capital are encouraged to contact the local EDC office at (765) 521-7402 for information about its enterprise loan fund. The EDC office is located at 100 S. Main St., Suite 203, New Castle. When needed, referrals to Flagship Enterprise Center are made.
Visit www.flagshipenterprise.org or www.flagshipmicroloan.org for additional information about FEC including a micro-loan application. FEC is located at 2705 Enterprise Drive, Suite 150, Anderson. The facility’s phone number is 765-622-0100.
The Flagship Enterprise Loan Program recently approved over a quarter of a million dollars in new loans moving past the $3 million mark in total loans. Since 2010, FEC has made working capital, inventory and other business financing needs reachable to nearly 200 businesses.
Authorized by the Small Business Administration to lend in 24 Indiana counties, Flagship has helped finance Minority, Women and Veteran owned businesses through its lending programs. Small businesses can obtain up to $50,000 in capital through the Microloan program and larger businesses can borrow up to $250,000 through the Community Advantage program.
Having passed the $1 million mark in 2014, Flagship has seen its loan participation increase dramatically in the past 12 months helping create and retain new jobs throughout Central Indiana.
Flagship Enterprise Center
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA microlender in Anderson, Indiana. To apply for a microloan, potential borrowers may contact Adam Tidrow at (765) 622-0100 or email@example.com.
Flagship Enterprise Center announced recently that the FEC Microloan Program has received a grant for $20,000 from Old National Bank Foundation. Presented by ONB Regional President, Jeff Howe and Amy Freeman, Vice President, the grant is part of the “Growing Indiana Through Microlending” initiative.
Chuck Staley, President and CEO of Flagship Enterprise and Adam Hoeksema, Loan Program Manager, were on hand to receive the grant that will help fund the program.
Hoeskema remarked, “We are thrilled to partner with Old National to expand our microloan program in 14 new Indiana counties. This loan loss reserve funding will make an additional $133,000 in microloans available to help entrepreneurs grow their business. This grant demonstrates Old National's commitment to supporting Indiana business owners, and will positively impact dozens of entrepreneurs in the next 12 months.”
Flagship Enterprise Center
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA microlender in Anderson, Indiana. To apply for a microloan, potential borrowers may contact Adam Tidrow at (765) 622-0100 or firstname.lastname@example.org
RISE:NYC Announces Anderson Indiana Startup Go Electric Inc. Winner in $30 Million Innovative Technologies Competition
May 1, 2015 Go Electric Inc., a green tech startup headquartered at the Flagship Enterprise Center, was announced a winner in the $30 million innovative technologies competition for the RISE:NYC program.
“RISE:NYC (Resiliency Innovations for a Stronger Economy) competition is part of New York City's comprehensive suite of initiatives to mitigate the effects of severe weather and climate change on New Yorkers, and all of the winning technologies will help support and strengthen small businesses across the City," said NYCEDC President Kyle Kimball. "Each of the 11 innovative winning technologies will make the City a safer, stronger and more resilient place, creating economic support and additional opportunities for New Yorkers and small businesses." The competition received over 200 applications from more than 20 countries around the world. Applications were evaluated by NYCEDC staff and partners familiar with the competition’s objectives and the resiliency challenges facing New York City.
Go Electric’s Energy Resiliency System was selected for four small business sites in Brooklyn, Coney Island and Rockaway Beach. The systems range in size from 30KW to 250KW and provide uninterruptible power with advanced capabilities in peak shaving, power quality correction and demand response. These capabilities lower the energy costs for the businesses and provide them energy security 24/7. “Go Electric is delighted with the award and the opportunity to support not only the small businesses, but also the communities in which they reside”, said Lisa Laughner, President & CEO Go Electric Inc. “Each of the businesses provide critical services to their communities, and by helping the businesses stay resilient, we help the communities stay resilient”.
About Go Electric Inc.:
Go Electric Inc. designs, develops and manufactures micro grid control systems, turn-key micro grid solutions and energy resiliency systems that seamlessly integrate grid power, renewable energy, generator, and battery power for maximum energy reliability and energy efficiency with reduced fuel consumption. The company’s patented technology offers superior uninterruptible power supply capabilities due to its higher energy efficiency and capability for load management, peak shaving and dispatchable storage. Go Electric Inc. is headquartered in Anderson, Indiana at the Flagship Enterprise Center. For more information about the green tech start-up company, visit www.GoElectricInc.com or contact Lisa Laughner at Lisa@goelectricinc.com.
ANDERSON — Longtime community leader Chuck Staley will receive the Sagamore of the Wabash Award from Gov. Mike Pence and local state legislators Terri Austin, Jack Lutz and Tim Lanane at 11:30 a.m. Wednesday at The Edge in Edgewood.
“Through the years, the Sagamore of the Wabash has been presented by Indiana’s governors to citizens who have contributed greatly to our Hoosier heritage,” Austin said in a press release. “I am particularly pleased that this recognition gives us a chance to recognize that Chuck Staley has been committed toward linking economic development and social awareness.”