Since its beginning in 1997, MEO Business Development Corp. has helped create more than 1,200 new business and helped create or retained over 1,900 jobs. In addition, MEO BDC has trained more than 1,550 low- and moderate-income entrepreneurs, giving them the business skills to combine with their passion for success. MEO BDC has also made over 600 loans, totaling more than $3 million in amounts ranging from $500 to $30,000.
MEO BDC offers small business loans ranging from $500 to $10,000. These loans are to be used to startup operations or for the expansion of an existing small business. Step loans are also available up to $25,000 after six months of on time payments on the initial loan. MEO BDC also has emergency loans available to small businesses who find themselves in need of a small amount of cash to get them over a cash flow crunch. This fund offers $200-$2,000 in loans per client and a very quick turnaround time from application to funding.
MEO BDC also offers the Core Four Business Planning course, a 30 hour course that helps you analyze business opportunity and plan for success. Over 1,550 students have graduated from these business planning courses. The course, usually scheduled in 3-hour sessions, is offered a total of 10 times a year through MEO BDC’s Wailuku (Maui) and Kaunakakai (Molokai) offices. Core Four will guide you in the development of a realistic, achievable plan for your business. It has proven its value for prospective entrepreneurs as well as existing small business owners. Financial Aid is available for this course through grants from Maui County Office of Economic Development and State of Hawaii Ofice of Community Services.
Susie Thieman, MEO BDC CEO and primary instructor of the Core Four classes, was named the Minority Small Business Champion of the Year for Maui County in 2006 by the U.S. Small Business Administration (SBA), and in 2009 the SBA named her the Financial Services Champion for Maui County.
MEO BDC programs are funded by grants from the Maui County, Mayor’s Office of Economic Development, State of Hawaii Office of Community Services, State of Hawaii Department of Human Services Vocational Rehabilitation & Services to the Blind and the State of Hawaii Office of Hawaiian Affairs.
