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Missouri Scholarship & Loan Foundation Awards Grant to Support Business Bootcamp and Provide Stipend for Transportation, Childcare and Business Expenses

The Missouri Scholarship & Loan Foundation has awarded $30,000 to Missouri State University for the efactory and Missouri SBDC at MSU to support the recently announced early-stage business training program for diverse and women-owned businesses. This new grant award will support a $3,000 stipend to 10 participants in the early-stage business training program to use towards transportation, childcare and business expenses.

“Missouri Scholarship & Loan Foundation is proud to offer the Institutional Workforce Enhancement Grant designed to support innovative programs and strategies to advance the skillset of the state’s workforce. Specifically, the grant supports Missouri institutions striving to improve workforce development by providing returning adult students strong, marketable skills to meet employer demand. We are excited for Missouri State University to implement this program and to provide help to participants so they can meet common challenges such as transportation and childcare. We can’t wait to see the meaningful impact and the successful outcomes in the community,” said Melissa Findley, Executive Director of the Missouri Scholarship & Loan Foundation.

“Reducing barriers and providing early-stage capital is critical for starting new businesses and seeing entrepreneurial success in our community. Thank you to the Missouri Scholarship & Loan Foundation for their commitment to Springfield and diverse and women-owned businesses,” said Rachel Anderson, Director of the efactory.

Topics and programming covered in the program include customer discovery, market research and analysis, financial projections, positioning your business for growth, and more. Upon completion of the program, participants will receive an Innovation and Entrepreneurship Certificate, have a business and/or growth strategy plan, have three-year financial projections and be prepared to grow their business, apply for a business loan, or take on investment.

The program will be delivered through the efactory and Missouri SBDC at MSU with partners including the Missouri Scholarship & Loan Foundation, U.S. Bank Foundation, Multicultural Business Association, United WE, and the Missouri Women’s Council.

Applications will be available in late fall and the program will kick off in early 2023. To learn more about the program, please contact efactory@missouristate.edu or sign up for our email newsletters to be notified when applications open.