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BAGHDAD, Iraq (March 6, 2008) - Money is always a concern for
those running a business. Start-up capital is one of the most
difficult obstacles for entrepreneurs starting a new business in
the United States because the businesses often do not have enough
capitol to stay above water.
Iraqi shop owners on Spruce Street in northern Saydiyah know and
understand this problem as well. They recently lined up to receive
micro-grants from Soldiers of 4th Battalion, 64th Armored Regiment,
attached to 4th Brigade Combat Team, 1st Infantry Division,
Multi-National Division - Baghdad.
Seven shop owners were provided grants, totaling $17,500.
Another 13 grants, totaling $32,500, were provided to shop owners
later in the week.
"Each grant is for $2,500 and is intended to allow shop owners
the freedom to purchase supplies or make improvements to their
businesses," said Staff Sgt. Ray Moore of Elgin, S.C., who serves
as the non-commissioned officer in charge of civil military
operations projects for the 4-64 Armored Regt.
The Spruce Street market area is coming back to life, he said,
with local residents moving back to the area. Stores are reopening
and getting off the ground again, but shop owners are in need of
funds to make repairs in addition to purchasing more stock.
This is where the Coalition's micro-grant program comes in.
Micro-grants are cash grants provided by the Coalition to assist in
kick-starting a free market economy.
The grants are designed to stimulate economic growth at the
lowest level, said Capt. David Cox, a Winchester, Va., native, who
serves as a 4-64 Armored Regt. civil military affairs officer.
"You can't start an economy from the top," he said. "It just
doesn't work."
As this and other programs like it continue to progress, it is
hoped Iraqis will have the opportunity to successfully fund their
own businesses and compete fairly in a new free market economy.
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