Micro grants make a difference for Basrah businessmen

Photo By Spc. Maurice Galloway | With a final signiture, another member of the Provincial Reconstruction Team's mentorship program ensures the economic development of Basrah City by providing business commerce.  

BASRA, IRAQ

10.12.2009

Story by Spc. Maurice Galloway 

17th Field Artillery Brigade

CONTINGENCY OPERATING BASE BASRA, Iraq — Starting one's own business can be a rewarding and fulfilling experience. However, opening a business in a volatile economy is something some would say requires a miracle. The 17th Fires Brigade and the Basrah Provincial Reconstruction Team provided that miracle to a few al Qurnah entrepreneurs in the form of small business developmental micro grants.

After successfully completing an intensive PRT mentorship program designed to build strong business management skills, 30 entrepreneurs received micro grants totaling $97,500 for the startup of new businesses as well as the improvement of existing establishments.

"I am so grateful for not only the money, but for the opportunity to improve my business with the knowledge I've gained from this program," said Novri Mohsen Aeamish, a micro grant recipient. "I will use this grant money to buy tools, paint supplies and a generator for my auto repair shop."

The grants varied in amounts, all of which were no more than $5,000 per person, and were dispersed based on the evaluation of the business's capital requirement.

"This program's initiative is to cultivate an immediate impact for rapid business development," said E. Walter Koenig, economic team leader for the PRT. "It's going to take business developments like these as well as the eventual development of a democratic system of open trade to push Iraq on to the stage of global commerce."

The 17th FB has been evaluating areas in Basrah province that could benefit from assistance provided by the Commander's Emergency Response Program. Created as a financial resource for deployed U.S. military commanders, CERP is used to generate short-duration projects designed to alleviate urgent humanitarian need.

"The effect is to give them the cash to make immediate adjustments to their businesses that will produce the type of results that will benefit a large scale of people," said Sgt. 1st Class Serena Puckridge, 17th FB CERP funding manager and a native of San Antonio.

"We're looking at businesses that we can help to improve the quality of life here in Basrah," she said. "Whether it's providing market improvements, bringing more livestock into the country or providing construction workers the tools they need to secure contracts, we're giving them a chance to enhance their community."

The recipients of these grants underwent a vetting process to determine the sustainability of their business ventures before being accepted into the mentorship program. By teaching the future business owners to develop business plans, conduct cost analysis and set business bench mark goals, the PRT hopes to solidify foundations for long-lasting success.

"We conducted several evaluations to determine the credibility of each and every business proposal," said Koenig. "We're investing a substantial amount of interest in the development of these entrepreneurs that doesn't just end with them receiving the funding to open these businesses. We're prepared to continue the necessary training and mentorship to make sure that these businesses succeed."

Koenig said the PRT plans on continuing the micro grant program and is currently in the final process of vetting several other applications by Basrah businessmen for financial assistance and mentorship slated to begin in the next 30 days.

"We're proud of what we've accomplished with this program so far," Koenig said. "We hope to have more success in the future. The need is there, but more importantly, the desire and enthusiasm is there within the people of Basrah who want to be the leaders of tomorrow in the community and throughout the business world."

"All we are doing is offering a hand up," he said. "How far 'up' depends on the men and women in this great city to decide for themselves."

• Date Taken: 10.12.2009
• Date Posted: 10.12.2009 05:20
• Story ID: 39974
• Location: BASRA, IQ