By Mary Athey
Vice President of
Entrepreneurship, SMIF
In small towns, people are always showing up to fill gaps – the chef makes extra meals at the church; the mechanic fixes cars out of neighbors’ garages. One person with a skill can make a big difference in a small town. But how does a neighbor helping out become a lasting part of the community? With the right support, they can become the businesses and services that communities rely on every day.
Forty years ago, Southern Minnesota Initiative Foundation (SMIF) recognized that access to capital was essential for growing skills into businesses and strengthening communities. Traditional financing was often out of reach for small-town business owners, startups and local innovators, leaving good ideas and helpful neighbors without the support they needed to succeed. SMIF stepped in to fill that gap, offering loans paired with technical assistance.
SMIF gave its first loan to Neil Weaver to support his company, ABA Water Systems, in Plainview. The financial support changed the game for Neil and his family, who were able to use the loan on inventory. His company is now a third-generation operation, a legacy that still resides in Plainview today.
Delmone Brice dreamed of turning his popular food truck, Twisted Chicken, into a permanent restaurant. With support from local partners and a loan from SMIF, that dream became reality in Faribault. Along the way, he worked closely with the SMIF team to gain a deeper understanding of what it takes to run a successful business — ensuring he had not only the funding, but also the knowledge and strategy to support his vision.
Dr. Amanda Bohn received a loan from SMIF to support Personal Hearing Care, her new practice in St. Peter. With the vision of enriching lives through improved hearing and personalized plans, she chose St. Peter for her practice — a place with the small-town space she loves and one without a local audiologist or hearing care provider. SMIF’s loan helped with remaining buildout costs and for specific equipment to assist in her daily workflow. She continued working with SMIF’s lending team to see her vision become a successful business.
Lending and technical assistance are one part of the big picture that makes economic development successful. Last year, SMIF approved six grants to support economic development projects in local communities, helping the city of Henderson develop Main Street marketing, a community-wide strategy to encourage more visitors after road closures forced businesses to shut down; Sharing Our Roots in Northfield strengthens market access for more than 20 underserved farmers in southern Minnesota by coordinating buyer outreach, vender onboarding and fulfillment support, while leveraging shared infrastructure; and more.
SMIF also partners with organizations for events such as the Ignite Cup with IgniteMN, where entrepreneurs pitch their business ideas, and the FEAST! Local Foods Tradeshow with Renewing the Countryside, where food and beverage entrepreneurs can connect with wholesale buyers.
Through all of this, the SMIF entrepreneurship and lending teams do more than provide resources and opportunities; we stay connected. We want to see the visions of local entrepreneurs become the spaces and food, the shops and services and the places community members turn to when they need a neighbor.
I welcome your comments and questions. You can reach me at marya@smifoundation.org or 507-214-7013.
About Mary Athey
Mary Athey, vice president of entrepreneurship at Southern Minnesota Initiative Foundation, has extensive experience in economic development. Her previous roles with Community Economic Development Associates (CEDA) and as city administrator in Blue Earth, Minnesota, have provided her with first-hand insight into the challenges and opportunities faced by small towns. Mary has successfully leveraged SMIF resources to support local initiatives, demonstrating a strong commitment to sustainable rural economies.
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