MEDA E-Newsletter September 08

E-Connect
Metropolitan Economic Development Association
"helping entrepreneurs of color succeed"

your monthly connection to everything MEDA!

September 5, 2008 | Volume 2.5

www.meda.net

MEDA is excited to be involved in the August opening of Global Pharmacy. This is a Somalia owned and operated pharmacy that will serve the large population of African immigrants and others that reside near Chicago and 24th Street in Minneapolis. Ms. Berlin Farah, a licensed pharmacist, will operate the full service pharmacy. Mr. Hussein Abdulahi and Mr. Saeed Jama will manage and operate the convenience and beauty section of the pharmacy. Global Pharmacy is active in the MEDA Consulting program and will receive ongoing assistance.

The financing package is a collaborative effort of community organizations and private enterprise. MEDA funded 42% of the start-up costs while the rest of the financing came from MCCD, CPED, State's UIP and Franklin Bank. This project is consistent with our desire to provide professional employment opportunities and improve communities of color.

Global Pharmacy is one of 14 new businesses MEDA helped start through our loan and consulting services this year. For more information about our loan and consulting services please view online at www.meda.net or call us at 612-332-6332.

THANK YOU to everyone who has supported entrepreneurs of color through financial and volunteer support!

Executive Development Series

Entrepreneurs of color are invited to hear

Tim Larson

President and CEO

Jostens

September 16, 2008

Larson's vision to architect innovative solutions for customers and sales representatives has driven significant growth for Jostens. During his leadership the memory book business grew over $100 million and became the leading provider of memory books created over the internet. The vision and growth were the basis for the subsequent launch of Jostens' personal memory book service and a long-term partnership with Disney. Come hear about his leadership style and his response to dynamic markets.

Register now, click here

And also sign up for the following EDS luncheon with Wells Fargo's Debra Paterson, October 9, 2008

MEDA Board Spotlight Marilyn Dahl

Marilyn Dahl

Regional President, Small Business Banking, Wells Fargo Bank

Marilyn has been a MEDA board member for 8 years, two of them as board chair. She has also lent her time and expertise to other nonprofits, strengthening her relationships throughout the Twin Cities.

Marilyn loves the dedication and commitment that MEDA brings to the community and she is proud to know that we are making a difference. She feels this success was once again displayed at the 2008 Annual Meeting in June. "There are no frills, just passion, commitment and results." Marilyn said.

MEDA has also given Marilyn the opportunity to learn and grow and continue to meet new and wonderful people while encouraging others to do the same. "It is important to be a part of the community, where you live, work and play!"

In the future Marilyn would like for MEDA to become wildly successful and for its services to touch as many people as they can. MEDA has the potential to make a powerful impact by helping many more entrepreneurs succeed.

Marilyn states that "it is apparent that the demographics of our community are changing and this is MEDA's opportunity to step forward and help more people." We thank Marilyn for her leadership on our board.

MEDA Welcomes Joe Peabody

Joe joined MEDA in February as a part time Fund Development Coordinator. Then in July he moved to full time as Fund Development and Marketing Coordinator. Joe moved here last fall from West Virginia. In the past he has worked as a Development Director and Consultant and has served on the Board of West Virginia Community Shares. Joe brings a wide range of experience to MEDA in development, communications, marketing and design. "I really enjoy working at MEDA, maybe because everyone knows how to run a good business," said Joe.

In his spare time Joe enjoys camping, exploring Minnesota and this summer he started sailing. He grew up in South Dakota and graduated from Western Washington University with a degree in the Arts.

About MEDA

The Metropolitan Economic Development Association (MEDA) is a nonprofit organization that provides assistance to businesses owned and managed by entrepreneurs of color. MEDA's services are designed to establish long-term relationships that serve as catalysts to create successful businesses.

Vision
Economic parity for communities of color, driven by the entrepreneurial spirit

Mission
To help entrepreneurs of color achieve success in the free enterprise system. Continued success in our mission will result in:

� Sustainable businesses that employ diverse work forces and create quality, living wage jobs

� Business owners who make positive contributions to their communities, become leaders and are considered role models

In This Issue

New Business Spotlight

Executive Development Series

Board Spotlight

New MEDA Staff

Upcoming Events

Updated 2008 Achievements

As of August 31, 495 entrepreneurs have made it their business to succeed with MEDA!