LEAD Announces Program Success in Lincoln
First year operations yield leveraged funds 3.66 times annual donations

 

[July 16, 2022] 

Lincoln Economic Advancement & Development, Inc.’s (LEAD’s) Board of Directors is pleased to report leveraged funds available to Lincoln business in relation to its annual donations.

In 2021, LEAD’s operations began on March 16th and encompassed two major funding awareness campaigns for local businesses: Illinois Department of Commerce and Economic Opportunities Back 2 Business Grant (B2B) and the Small Business Administration’s Economic Injury Disaster Loan Program (EIDL).

Within the B2B program, seven Lincoln businesses received grants totaling $180,000. Within the EIDL program, one Lincoln business received a loan in the amount of $437,410. The amount of funding into Lincoln businesses between the two programs was $617,410.

During 2021, LEAD received $168,850.33 in local donations. For every dollar donated, $3.66 was leveraged into Lincoln businesses solely through these two programs.

“In economic development work, it is sometimes difficult to produce early metrics which demonstrate success. Much of the beginning work we do has qualitative outcomes which are hard to quantify,” according to LEAD CEO, Andrea Runge. “The success of Lincoln businesses within these two programs gives our donors a sense of what is possible when local entrepreneurs receive technical assistance within government programs.”

LEAD will continue to be a Small Business Community Navigator through the Illinois Department of Commerce and Economic Opportunity program at least until the end of December 2022. As new funding becomes available, LEAD will continue to create awareness and offer technical assistance to Lincoln businesses within forthcoming funding opportunities or through the general course of business.

LEAD is a 501 (c) 3 not-for-profit organization. LEAD’s operations are funded through local annual pledged donations in amounts that vary from $50 to $50,000. Donations can be sent to LEAD at PO Box 235, Lincoln, IL 62656.

If you would like to receive LEAD’s assistance with your current or future business plans, call LEAD CEO Andrea Runge at 217/871-1439 or email her at [e-mail].

LEAD’s mission is to empower Lincoln’s economic health and vitality. To learn more about LEAD, please visit www.thriveinlincoln.
org. 

[Andrea Runge]