Delhi’s Funka’ture Expands Customer Reach with IDA Micro-Loan
Thanks to a micro-loan from the Delaware County Industrial Development Agency (IDA), Funka’ture - a furniture refurbishing business offering one-of-a-kind pieces, has been able to expand its customer reach by purchasing credit and debit card processing equipment.
Funka’ture owner, Amy Sokol, was the first recipient of the IDA’s micro-loan program launched in 2016.
The micro-loan program, conceived by IDA Chairman Jim Thomson, was created to provide low-interest, small loans, ranging from $1,000 to 10,000, to small businesses. “These loans,” IDA Executive Director Glenn Nealis said, “are for small businesses that don’t have ‘huge’ projects, but need a little bit of assistance.”
The requirements for a micro-loan are less stringent and have an abbreviated process that is reviewed by a three-person committee rather than the full IDA board of directors.
“The IDA believed in me and they helped me,” Sokol said. “I don’t know what I would have done without them.”
Since it was introduced, six loans have been approved under the micro-loan program. “It’s just one of the many ways the IDA works to support local business, which, in turn, help our local communities thrive,” Nealis said.
Amy Sokol of Funka’ture with Delaware County IDA Executive Director Glenn Nealis at Funka’ture’s retail showroom located at 19 Elm Street, Delhi.