St. Louis Entrepreneurs Get New Help Launching Businesses

ST. LOUIS and CHICAGO, Jan. 28, 2014 /PRNewswire/ -- Family and Workforce Centers of America and The PrivateBank are pleased to introduce a new program to help entrepreneurs in the St. Louis area launch new businesses.

Up to 30 entrepreneurs from the communities served by Family and Workforce Center of America will be selected to participate in a one-year training program. Qualified graduates of the program will be eligible for up to $10,000 in financing from The PrivateBank's Entrepreneurial Loan Program for start-up business expenses. Applicants will go through an extensive selection process.

"We're working to build a vibrant economy throughout St. Louis and we know small businesses are the key," said Carolyn D Seward. President and Chief Executive Officer of FWCA. "By equipping entrepreneurs who have good ideas for new businesses, together we will create critical jobs in our community."

Participants will attend 15 weekly classes to develop a business plan, and work with experienced business mentors for a year. Classes will be held at the MET Center in St. Louis.

The PrivateBank has created the Entrepreneurial Loan Program, providing loans of up to $10,000 to qualified participants who successfully complete the program.

"Small businesses play such an important role in creating jobs and economic growth in our communities," said Andy Dawson, Market President, The PrivateBank-St. Louis. "The PrivateBank is committed to helping new small business entrepreneurs drive that critical growth by supporting training programs and providing access to funding to help turn their visions into reality."  

Seward added, "Our community faces challenging economic conditions, but we have long known that if there aren't jobs, you create them. Our community has a strong entrepreneurial spirit and track record of small business development. We are excited to provide opportunities for new entrepreneurs to develop the skills and access the resources that they will need to build their business and to strengthen our community."

Business leaders interested in serving as mentors for the program are invited to contact the FWCA to learn more.

Family and Workforce Centers of America was established in 2011 and is dedicated to enriching the lives of American youth and adults in need of family and workforce services through intensive employment and educational training. The company's website is www.fwca-stl.com.

The PrivateBank is a part of PrivateBancorp, Inc., and delivers business and personal financial services to entrepreneurs and families in all of the markets and communities it serves. As of December 31, 2013, the Company had 33 offices in 10 states and $14.1 billion in assets.  The Company's website is www.theprivatebank.com.

SOURCE The PrivateBank

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