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What is ReKindle?

Northern Kentucky Community Action’s Rekindle Micro-Enterprise Development program is designed meet the needs of aspiring entrepreneurs and small business owners. Rekindle Micro-Enterprise Development program to provide self-employment training, access to funding and continuing support that gives entrepreneurs the competitive advantage they need to succeed.
The Rekindle Micro-Enterprise Development program helps to:

  1. Provide an innovative path out of poverty
  2. Create self-sufficiency
  3. Improve the survival rate of micro-enterprise businesses
  4. Improve employment skills
  5. Promote economic development

Working with our education partners, the Rekindle Micro-Enterprise Development program begins with a comprehensive assessment. Once the assessment is complete, participants begin a two- to three-month business development course that includes entrepreneurship training, obtaining financing, accounting and tax issues, financial literacy, marketing and writing a business plan.

Rekindle Graduates are eligible to apply for up to $5,000 in Rekindle low-interest financing to start or expand their business, and access to funding up to $500,000 though our Rekindle financing partners.

Micro-Enterprise Start-up Training

Northern Kentucky Community Action’s Rekindle Micro-Enterprise Development Program is designed to meet the needs of aspiring entrepreneurs and small business owners. Rekindle provides training, access to funding and continuing support for those looking to start their own business.

The Rekindle program provides micro-enterprise training that covers such topics as how to write a business plan, how to obtain financing, accounting and tax issues, business insurance, legalities, business licensing, marketing and other micro-enterprise start-up issues.

Rekindle Micro-Enterprise Development program isn’t just a loan, it is a comprehensive program that provides the knowledge, tools and continuing support to make your micro-enterprise a success.

The Rekindle Micro-Enterprise Training program is open to all aspiring entrepreneurs. Special emphasis is given to entrepreneurs in one or more of the following target groups: low income individuals, women-owned businesses, veteran-owned businesses, ethnic-minority owned businesses, micro-enterprises (companies with five or fewer employees), businesses owned by individuals classified with disabilities and businesses located in a U.S. Small Business Administration HUBZone qualified economically distressed area.

Rekindle Micro-Enterprise Development Program isn’t a loan, it is a comprehensive program that provides the knowledge, tools and financing to make your Micro-Enterprise a success.

Access to Financing

Rekindle Micro-Enterprise Development Program graduates are eligible to apply for up to $5,000 in Rekindle low-interest financing to expand or start their business, and access to funding up to $500,000 though our Rekindle financing partners.

  1. Rekindle Micro Express Loans: Loans up to $1,000 with a payback between 1 to 3 years
  2. Rekindle Micro-Enterprise Loans: Loans between $1,000 and $5,000 with a payback between 3 to 5 years
  3. NKADD Small Business Loans: Loans between $10,000 to $100,000 tied to the creation of new jobsKentucky Micro-Enterprise Loan Program (KMEL): Loans up to  $50,000 for businesses employing fifty or fewer employees and are located in Carroll or Owen counties 
  4. SBA 504 Loan Program: Loans up to $5,000,000

Continuing Mentoring and Support

Rekindle Micro-Enterprise Development Program is a continuing relationship. All Rekindle entrepreneurs will be assigned a Micro-Enterprise Coach that will continue to work with the Rekindle entrepreneur as their business evolves.
We work with our Rekindle entrepreneurs to help them by:

  1. Addressing challenges facing their business;
  2. Assisting in business networking;
  3. Providing opportunities for continued business learning;
  4. Working to find additional sources of financing.

Rekindle Loan recipients not only receive one-to-one mentoring from their Micro-Enterprise Coach, we build on this with monthly e-learning content. We also encourage our Rekindle entrepreneurs to network with each other, but also help them network with other businesses by providing membership assistance to other local and regional business networking groups.

Benefits of Micro-Enterprise

  • Micro-enterprise Development is a strong public investment with estimated returns of $2.06 to $2.72 for every dollar invested.
  • Micro-enterprise businesses assisted through development programs have high survival rates of 57 to 90 percent over five years.
  • Micro-enterprise Development offers moderate and low-income individuals a viable alternative to minimum-wage labor and public assistance.
  • A successful strategy for addressing poverty, unemployment and community deterioration.
  • Nearly 21 million micro-enterprise businesses exist in the United States, representing nearly 17 percent of all private employment in the nation.

For more information visit www.rekindlenky.com