SOS Learning Lab in Traverse City was the latest recipient of a Sub Micro Loan through the Traverse City Area Chamber. The fund was created last year with support of Fifth Third Bank and the Traverse City Chamber Foundation. It’s the sixth loan made from the fund, with capital lending totaling more than $30,000.
Caperton is a former special education coordinator for the Elk Rapids School District who started her tutoring business four years ago to create more flexibility in her family life. She was considering a full-time job in the classroom when she decided it was time to follow her passion for tutoring and launch her own business.
“I said ‘It’s time – I can create jobs,” Caperton said. “I can really do it and touch a lot of lives.”
Caperton said the Chamber loan helped her with several business expenses including securing a location for the business located at 1222 Veterans Drive Suite E. It also helped purchase office and classroom equipment, marketing materials and other operational expenses. She’s working with three associates as contractors that she hopes to eventually hire as employees. The business offers a variety of tutoring services including educational consultation, academic skills, behavioral strategies, vocational skills and more. You can visit their website at soslearninglab.com
Caperton is also grateful for the business and financial assistance made available through the Sub Micro Loan program, including help from Walt Muellenhagen from SBDC Northwest Michigan who helped her establish a business plan for her vision.
“He walked me through the process…that was huge,” she said. “It’s been a really good experience.”
Learn more about the Chamber’s Sub Micro Loan fund and other business financing options by clicking here.