Since launching their ERG! Fruit and Nut bar business five years ago, Dennis and Katy Bean-Larson have grown their operation to where their products are available in some 150 retail outlets across multiple states. Locally, consumers can find ERG! Bars in Tom’s Food Markets, Oleson’s Food Stores, Oryana, Edson Farms and elsewhere. They’re currently selling 100,000 ERG! bars a year.
The Bean-Larsons recently turned to Venture North for a second loan from the Sub Micro Loan Fund, created with the financial support of Fifth Third Bank. The Sub Micro Loan Fund offers businesses up to $10,000 at reasonable interest rates with terms up to 24 months primarily designed for business start-ups or seed money for existing businesses to expand their operations. The program is designed with a quick loan approval and turnaround process so companies can move quickly to meet their financing needs.
The Bean-Larson’s latest $10,000 loan will help them step up both the production and distribution of their product. It will be utilized to find new markets and stores, and make other improvements to their business model in terms of production, personnel needs, transportation and distribution.
Learn more about Venture North’s Sub Micro Loan Fund.