By Jenna Mink, The Daily News, Bowling Green, Ky.

Feb. 4--In a weakened economy, local small businesses and potential homeowners are getting an extra boost.

Community Ventures Corp., a nonprofit organization that helps people get financial assistance, recently opened its Bowling Green office. It's a bridge between local residents and funding opportunities, helping entrepreneurs and potential homebuyers get loans.

It partners with agencies, such as the U.S. Small Business Administration, the U.S. Department of Agriculture and the Kentucky Cabinet for Economic Development, to help people buy a home, start a business or grow an existing business.

Unlike some other organizations, Community Ventures will assist people who are not bankable at the moment, said Jason Nuetzman, executive vice president of Community Ventures.

"That encompasses everyone right now," he said. "There's a big credit freeze."

Nuetzman offers jump-start SBA loans that range from $500 to $1,000 -- he will hold business training classes, which entrepreneurs must attend to get the loan. Nuetzman is ready to start the classes and is looking to offer them by the end of this month.

The loan is for "people who have an idea and don't know how to get it started," he said. As for the number of people who can attend the classes, "bring them all on ... anybody interested, they can come," he said.

Nuetzman helps business owners get other SBA loans, such as micro-business loans, which can lend a small business up to $35,000.

Local businesses have struggled to get some SBA funding. Less than 30 percent of banks offer those loans because "it's a lot of paperwork and a lot of red tape," Nuetzman said. "What we bring is the opportunity to cut through (those barriers)."

Small businesses create about 65 percent of jobs in the nation. Recently, President Barack Obama highlighted small business growth as a key to economic recovery.

"There's going to be a large push from Washington for small business stimulation," Nuetzman said.

The organization will also assist existing businesses that need money for expansion efforts. Community Ventures can help business owners land up to $25 million for expenses, such as a building addition, a new facility or new equipment.

The biggest challenge for existing and potential employers is the difficulty of getting projects financed, said Jim Hizer, president and CEO of the Bowling Green Area Chamber of Commerce.

In fact, the chamber is working with several projects that are on hold because business officials are trying to snag funding, he said.

"I think it's one of the factors that is holding back our (national) economy," he said.

The Small Business Development Center at Western Kentucky University works with Community Ventures Corp., referring clients to the organization.

"I've seen business owners get access to capital through these guys," said Adam Brownlee, director of the Small Business Development Center. "It's something that's been very important to our small business owners."

In addition to helping businesses, Community Ventures Corp. also helps homebuyers get assistance with down payment, closing and construction costs and mortgage lending.

Those loans will "help low-income families achieve that part of the American dream," Nuetzman said.

The organization also offers education courses for small business owners and entrepreneurs.

"We're not just about money ... we want to educate too," Nuetzman said.

Community Ventures Corp. was created nearly 30 years ago and is headquartered in Lexington. It operates in five other Kentucky communities, including Bowling Green, and recently opened a handful of new offices.

The Bowling Green office serves 12 regional counties. Thus far, about a dozen local people -- who heard about the organization through word of mouth -- have contacted Nuetzman about lending assistance.

"I think Bowling Green has the atmosphere that is conducive for great success," he said. "I grew up in this area, and I've seen it grow."

The local office is located in the Durbin building on College Street. For more information, contact Nuetzman at 904-0323 or by e-mail at jnuetzman@cvcky.org.

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