2006 Economic Impacts in Southwest Virginia

People Incorporated Financial Services provides access to services to:

• 399,318 population of Southwest Virginia, covering 14 counties and 3 cities, or 6,000 sq miles.

• Since its inception in 1992, People Incorporated Financial Services loan portfolio has grown to consist of 343 microenterprise and business loans, resulting in the creation of 524 jobs and the retention of 303 jobs.
• In the last year, 44 clients attended Core Four® and Business Basics classes, and 525 technical assistance sessions were conducted which assisted 284 clients with their small businesses.
• In fiscal year 2007, People Incorporated Financial Services closed 32 loans and approved $377,498. 18 new businesses were started, 14 businesses were expanded. Of the 32 loans made, 44% were provided to low income clients.
• Historically, People Incorporated Financial Services exhibits an overall business success rate of 81%.
• 24,383 small businesses are located in this area; approximated 1% of these businesses have loans through People Incorporated Financial Services.