CAPE GIRARDEAU, Mo., Feb. 25, 2016 – The Missouri Innovation Corporation (MIC) at Southeast Missouri State University announced the closing of a $10,000 Rural Microentrepreneur Assistance Program Loan to Modern Technology, LLC of Cape Girardeau.
Modern Technology, located at 1936 Broadway Suite B in Cape Girardeau, offers an array of services from technical support and consulting to repair services, data back up solutions and an inventory of high quality parts for those “do-it-yourselfers.” The business is open Monday through Friday from 9 a.m. to 4:30 p.m.
Owner Ryan Evans started the computer and mobile phone repair business in July of 2013.
“My business originally started out more as a hobby than anything,” said Evans. “After talking to several people, including phone companies, the need for a quality computer and mobile phone repair business was obvious.”
The MIC was able to provide the support and access to capital Evans needed to get his company off the ground.
“Finding financing was a frustrating process until we connected with the Missouri Innovation Corporation,” said Evans. “Once we found them, they helped us with every step of the process.”
Crystal Jones, interim director of Southeast’s Institute for Regional Innovation and Entrepreneurship, expressed excitement about the institute’s positive impact in the area and potential to partner with small businesses in the upcoming year.
“Providing access to capital to business in southeast Missouri is just one way that the Missouri Innovation Corporation is supporting entrepreneurship,” she said. “Area businesses that are frustrated with the needed financing to start or expand their business should contact us and let us try to help.”
The MIC has loaned $130,200 of the total $1.4 million in loan funds available since the program began in 2014.
Revolving loan program funds will continue to be made available by the MIC in the following Missouri counties: Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard and Wayne.
Interested entrepreneurs and bank partners should contact Johann Stuntebeck at (573) 651-5156.
For more information, visit www.innovationmic.org.