Are You Ready to Be a RMMFI Entrepreneur?
A RMMFI Entrepreneur is someone who:
- Is searching for the tools, guidance, and support to transform an idea into a thriving business.
- Is looking to build the right foundation to take their business to the next level.
- Wants more meaning and control in life than living paycheck to paycheck.
- Sees owning a business as a way to positively contribute to their community.
- Wants to be part of a diverse community of entrepreneurs who have found it hard to access capital because of their income or life experiences.
What makes RMMFI different? We invest in more than your business — we invest in you! We focus on the whole entrepreneur, helping you build strong foundations both personally and professionally to create impact for your business, your household, and your community.
- 95% of RMMFI-supported entrepreneurs report being on a positive life trajectory
- 72% of RMMFI entrepreneurs increase their household income
- 75% of RMMFI entrepreneurs see profits or break even within 3 years
- 84% of RMMFI-supported businesses are still operating after four years
- $7.4 million in revenue per year generated by all RMMFI entrepreneurs
Join the more than 315 local entrepreneurs who have launched their businesses through the Idea, Launch, and Thrive phases of the RMMFI journey!
- 80% of entrepreneurs feel very confident about the success of their business idea after Idea
- 86% feel very ready to invest time in starting their business
- 66% feel very ready to invest money in starting their business
Every entrepreneur’s journey starts with an idea. Whether you’ve been in business and haven’t seen the results you wanted or have multiple ideas and can’t decide which to pursue, the Idea Phase of RMMFI’s programming can help you build the foundations needed for success. In Idea, qualified entrepreneurs can receive:
- A free initial assessment to figure out your starting point and how RMMFI can help.
- 12 hours of education, coaching, and pitch practice through our 5-session Business Idea Lab, focused on the foundations of business ownership.
- Mentorship to encourage both personal and business development.
- Microloans (Seed Loans) up to $500 to test the feasibility of your business idea.
- Connections to partner organizations for help overcoming barriers that might prevent you from starting the business.
- Support in preparing an application for Business Launch Boot Camp.
Business Idea Lab Time Commitment: 6 hours/week for 4 weeks
Ready to unleash your potential? Take the first step by completing the Dream Survey today!
After completing the Idea Phase, RMMFI invites qualified entrepreneurs to continue their business journey in the Launch Phase. Just like it sounds, Launch is all about helping you get your business up and running with an actionable plan and all the tools and support you’ll need.
The Launch Phase begins with Business Launch Boot Camp, a 12-week intensive program offered three times a year to 10 committed entrepreneurs. During Business Launch Boot Camp, entrepreneurs receive:
- Simple and proven curriculum that shows you how to build an actionable plan to launch your business.
- 12 hours of mentorship and coaching from dedicated volunteers with expertise in business, finance, and accountability.
- Access to microloans (Launch Loans) of up to $2,500 to help you get what you need to start the business.
- Discounted accounting services to set your business up for financial success from day one.
Business Launch Boot Camp Time Commitment: 15 hours/week for 12 weeks
Following graduation from Business Launch Boot Camp, we work with entrepreneurs to create and update Launch Plans that help you set tangible business goals for the next year and keep you connected to ongoing support. Additional graduate resources include a peer support group, skill-building workshops, a free coworking space, virtual and live marketplaces, and promotion through RMMFI’s Business Directory. In total, the Launch Phase of RMMFI programming lasts 15 months.
- 85% of entrepreneurs have a clear vision of what their business will look like in 12 months after Launch
- 94% have supportive mentors they can go to for advice and guidance
- 97% feel capable to launch or relaunch their business venture after Launch
- 65% of entrepreneurs experience an increase in income since working with RMMFI
- 95% report that business ownership has allowed them to move their life in a positive direction
- 78% have grown their professional network and 71% have grown their community network
Once you have successfully launched your business, the Thrive Phase helps you grow and sustain it. In addition to resources offered in the Launch Phase, entrepreneurs in Thrive have access to:
- Cohort-based educational programs focused on the unique issues businesses face as they move from startup to expansion.
- Relevant mentorship and technical assistance to help navigate the challenges that come with a growing business.
- Expert-led workshops to continue developing the entrepreneurial and leadership skills necessary for business success.
- Microloans (Thrive Loans and Growth Loans), ranging from $5,000 to $75,000, to support the continued growth of your business.
Thrive Time Commitment: You know your business needs better than anyone, so Thrive is a self-directed experience where you can choose the tools that are right for you. There is no minimum participation requirement in the Thrive Phase; the resources are available to you whenever you need them.
RMMFI is focused on serving individuals and communities that are often overlooked and underestimated by traditional business and financial services. In order to qualify for our programs, your income must be at or below the following levels:
|Income Limits by Household Size|
|1 Person||2 People||3 People||4 People||5 People||6 People|
While we’d love to help all businesses thrive, RMMFI cannot support businesses that fall into any of the following categories:
- Marijuana and cannabis-related businesses (including businesses primarily engaged in the manufacture or sale of products containing CBD)
- Tobacco shops, liquor stores, or bars where alcohol sales are more than 50% of sales
- Pawn shops or other businesses where lending is a primary activity
- Businesses engaged in illegal, disreputable, or otherwise questionable activities such as (but not limited to) gambling, prostitution, firearms sale or manufacture, or pornography
- Businesses deemed to be predatory or detrimental to the community
- Businesses primarily involved in rental or investment real estate (including house flippers and ground-up real estate developers)
- Businesses involved in speculative activities that develop profits from fluctuations in price rather than through the normal course of trade
- Multi-Level Marketing (MLM) businesses
- Nonprofit organizations
If you have any questions about whether you qualify for RMMFI’s programs, please contact us at 720-941-5037 or [email protected].