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Funding to benefit SOWAC By David Preszler Southern Oregon Women�s Access to Credit is one of just 13 programs around the nation that will benefit from new federal funding aimed at boosting women�s business ownership. SOWAC will play host to U.S. Rep. Greg Walden, R-Hood River, today at a celebration of the grant, which was created by legislation Walden helped pass. The grant is from the Small Business Administration Office of Women�s Business Ownership, which has stepped up funding for centers that focus on helping female entrepreneurs. Mary O�Kief, SOWAC�s executive director, says the SBA hopes to help fund at least one women�s business center in every state. Oregon has two such centers � SOWAC and a Portland-based group that primarily serves an American Indian reservation. SOWAC, formed in 1990, offers mentoring, business plan advice and financial assistance to small businesses, particularly those owned by women and minorities. It also specializes in helping microenterprises � businesses with five or fewer employees. The grant, announced last month, provides $125,000 a year for the next five years to the organization. O�Kief says the grant will make up about 32 percent of the organization�s operating budget. SOWAC must raise matching funds to secure the grant. This is the second five-year federal grant SOWAC has secured, although the latest one comes from new, beefed-up fund. The previous federal grant was about $72,000 a year, so the new $125,000 represents a healthy boost. With the added money, SOWAC plans to continue expanding. It already serves Jackson, Josephine and Klamath counties and will expand into Lake County. The group also plans to bolster its online presence, adding business plan advice. Last year, SOWAC served 127 entrepreneurs through its program. Walden will speak at a one-hour reception starting at 1:30 p.m. today in the second floor conference room of 33 N. Central Ave. in Medford. SOWAC graduates will share their experiences and SOWAC supporters will discuss the group�s role in the community. Obituaries | Sports | Business | Classifieds | Tempo | Prime Times | So Oregon Sites | Outdoor Journal | Subscribe | Contact | Movies | Advertise | Real Estate Showcase | Archive | Editorials | Letters to the editor | Religion | Wake-up Call | NIE | Cyber Chef | Job Network | So Oregon Weather | WSJ Northwest | Forums | AP Wire | AP Money | F.A.Q. | Awards Ottaway Newspapers, Inc. The Community Newspaper Subsidiary of Dow Jones & Co, Inc Copyright �The Mail Tribune 2000, Medford, Oregon USA