Small business incubator wants to help Fairmont entrepreneurs grow amid pandemic

Jan. 13—FAIRMONT — Small businesses are in for a much-needed boost.

The Fairmont Community Development Partnership has been helping with local development in Marion County for decades and this week it began accepting applications for its revived Excelerator and microloan programs.

Partnership officials describe the Excelerator as a "small business incubator" in which small business owners can choose from several membership plans to rent office space and have access to tools and resources that are needed to run a business. The Excelerator is located at 517 Fairmont Ave.

Kayleigh Kyle, executive director for the Partnership, said that COVID-19 has put a lot of stress on small businesses and their programs offer a bit of timely assistance.

"[Small businesses] are integral to our local economy. When you look at downtown development then you see that the small businesses are really the ones driving things," Kyle said. "They're usually the services we tend to go to the most and, during COVID, they experienced the most detriment and heartache."

Jonathan Board, chair of the Marion County Chamber of Commerce, has seen firsthand the effects COVID-19 has had on small businesses. He and the Chamber applaud the assistance that Kyle and her team are bringing to the community.

"These operations are really the backbone of economic development throughout the country but particularly in small communities like we have here in Marion County," Board said. "These opportunities are incredibly vital as we try to claw our way back to some sense of normalcy."

Businesses can choose from several packages, from a yearly lease in a private office, to desk space for a limited time, to the short-term rental of a desk or conference room.

Membership also allows access to advice from an advisory committee comprised of local professionals in areas such as investment, marketing and management. Kyle said these experts will act as advocates and coaches for members.

The Excelerator was created around 2017 but was halted when FCDP had to cut down operations during the pandemic shutdown in 2020. Now, Kyle and her team have brought it back "better than ever."

In addition to the Excelerator, the Partnership is expanding access and loosening restrictions on its microloans.

At the onset of the pandemic, FCDP had to also cut access to its loan program, which allowed small businesses to apply for a loan for up to $5,000.

Before this year, Kyle said the loans were restricted to be used on capital improvements.

"At this stage of the game, we realized that [business owners] might need the money for something else," Kyle said. "Now it can be used for whatever they need to stay afloat and keep their business up and running and improving in these post-COVID times."

As the two programs reopen, FCDP members and staff want to help small businesses thrive in Marion County.

"Fairmont has an opportunity to grow in regard to the number of smaller, locally owned businesses. Having offices for rent as well as a microloan program to help start-up and grow those businesses will be a boon for the community," said Toby Heaney, the financial administrative assistant at FCDP in a statement.

For more information about the Fairmont Community Development Partnership and what it does to help small businesses as well as more information about the Excelcerator and microloans, visit www.fcdpartnership.org or call 304-366-7600.

Reach David Kirk at 304-367-2522 or by email at dkirk@timeswv.com.