Barrington business owner Todd Rhodes is thankful to the Barrington Breakfast Rotary Club’s (BBRC) MicroLoan program that helped his rock 'n' roll-influenced general store succeed in today’s tough economic climate. “The MicroLoan I received a year ago for Grassroots helped us achieve our sales goals 4-6 months ahead of schedule. We were able to bring in merchandise in a more efficient manner thereby increasing our sales/inventory ratio,” says Rhodes.
The Barrington Breakfast Rotary Club’s MicroLoan Program focuses on creating new sources of income and is more personal and customized to the opportunity at hand. At its core, the MicroLoan Program is about helping people working to help themselves.
“The BBRC Microloan program focuses on small loans to local entrepreneurs. BBRC’s motivation is to provide opportunity for low or moderate income residents to start or expand an income-generating business venture,” says Narayan Murarka, BBRC’s Past President. A limited number of loans, with a maximum amount of $5,000, are granted at a modest interest rate - prime plus two points.
Grassroots, located in downtown Barrington, Illinois, offers unique apparel, accessories, gifts and more for the whole family. Many of their products can be specialized for each guest such as stenciled windows, hand painted skateboards, custom cufflinks, and more. Grassroots also supports many local and national groups. For example, they sponsored a Rock ‘n’ Roll fashion show this past year and raised $1,000 for the Make-A-Wish foundation. They also cross-market with many local businesses and create and host events that strengthen sense of community. “The MicroLoan program demonstrates Barrington Breakfast Rotary’s commitment to the local business community, and I appreciate their dedication and support,” adds Rhodes.
The Barrington Breakfast Rotary Club has many to thank for making this MicroLoan program possible including: Barrington Area Community Foundation, Breakfast Rotary Charitable Foundation, Barrington Bank & Trust, Barrington Township, Usha Murarka, MD, Advocate Good Shepherd Hospital, and two anonymous donors.
The Barrington Breakfast Rotary Club is comprised of business and community leaders – men and women alike – from Barrington and surrounding communities. They provide talent, leadership, financial and volunteer support to: children, youth and adult programs; community and civic projects; and international humanitarian projects.
For additional information, visit www.BarringtonBreakfastRotary.org
Or email info@BarringtonBreakfastRotary.org