RMMFI’s Idea Phase is all about exploration. For some entrepreneurs, a small amount of capital is needed to explore the feasibility of their business idea, which is why we offer Seed Loans ranging from $200 to $500. Despite their small size, Seed Loans have a large impact by allowing entrepreneurs to make sure they are on the right path before investing more time and money.

For Kim Bone, owner of Kim the Gardener, taking out a Seed Loan helped her “push the go button” on an idea she’d had for years. In addition to her gardening services, Kim wanted to offer outdoor pathway installation. She’d seen how much a beautiful path can pull a yard together, but she needed to test out what it would take to do the work.

With her Seed Loan from RMMFI, Kim was able to complete a pink flagstone project and gain valuable insight into the time, tools, and labor required. The loan was just enough to help her be sure that the new service was the right thing for her business. Kim now feels ready to start offering to lay paths for her gardening clients, and she has the information she needs to price the service appropriately.

As with all RMMFI loans, Seed Loans are designed to ensure that capital is backed by capacity-building support. Seed Loans are available following completion of Business Idea Lab or acceptance into Business Launch Boot Camp to make sure entrepreneurs have established strong personal and business foundations. As part of the lending process, entrepreneurs are connected to mentors who help them build a plan for successful use and repayment of the loan.

Kim’s next goal is to provide more xeriscape garden maintenance services, as she’s passionate about taking an approach that is gentler on our natural resources. She plans to use additional RMMFI loans in the future to help her continue pushing go on new ideas.