In rural Northwest Florida, financial opportunities are scarce. With no major industries, most residents rely on local government, correctional facility employment, or service industry jobs. For one member, a mother of three, working outside the home was not feasible due to childcare costs. To help support her family, she bred dogs, but she dreamed of something bigger: opening a professional animal daycare and boarding facility to meet an unmet need in her community.
Despite her passion and certifications in animal care, financial institutions in her area did not offer financing for startups, and banks in larger markets rejected her due to a lack of business experience. Frustrated but determined, she turned to Innovations Financial Credit Union.
Rather than dismissing her request, Innovations’ Chief Operating Officer personally met with her and her husband, providing financial counseling on credit, budgeting, and business financing. Recognizing her potential, he referred her to Innovations’ business lending team, who helped refine her business plan, develop financial projections, and navigate the loan process. In addition, Innovations partnered with the Florida Small Business Development Center at the University of West Florida, a resource that provides no-cost consulting and training for entrepreneurs, to host a marketing and social media workshop at the credit union. The member attended the workshop and found it to be very helpful. Through Innovations’ Micro Loan Program, she secured a $25,000 startup loan, enabling her to build boarding facilities, purchase equipment, and launch her business.
