Heidi Hulvey of Birch Tree recently received a $50,000 microloan through the Ozarks Small Business Incubator to fund the building and equipment of Birch Tree Laundry & More. In addition to the laundry machines, Birch Tree Laundry & More will offer showers, a fluff-and-fold service and an arcade.
Heidi first approached OzSBI in late 2022 for help creating a business plan and determining her startup costs, officials said, explaining that she then participated in OzSBI’s nine-week business startup course, LaunchU, which helped her refine her business and marketing plans and her cash flow projections. When she felt confident that she had created a good plan with realistic financial projections, they said, she applied for a $50,000 OzSBI Microloan and was approved in July.
Her new building is currently under construction, and the interested public can see updates and follow her progress on her business Facebook page @birchtreelaundryandmore.
OzSBI’s Microloan Fund offers microloans of up to $50,000 to qualifying businesses in Douglas, Howell, Oregon, Ozark, Shannon, Texas and Wright counties and within the city limits of Mammoth Spring, Ark. The goal of the program is to stimulate the local economy by providing startup and expansion loans to new and existing businesses. Microloans may be used as direct loans, seed capital or “gap” financing combined with other lending. The application process is similar to a traditional bank loan application, explained officials. The main qualifiers for consideration are good credit and a sound financial plan.
For more information about the microloan program, visit www.ozsbi.com or call 417-256-9724.
