DATE: Monday, March 10, 1997                TAG: 9703080334

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

SOURCE: BY AKWELI PARKER, STAFF WRITER 

DATELINE: NORFOLK                           LENGTH:   74 lines

A BOOST FOR BUSINESS NORFOLK PROGRAM HELPS PUBLIC HOUSING RESIDENTS BECOME ENTREPRENEURS.

Unlike many other home computers, which become glorified paperweights after a year of use, Gail Burke's 75 mhz workhorse has earned its keep.

Burke, a resident of the Tidewater Gardens housing complex, uses the computer to run her own company, an administrative support and printing business called Kei-AdVintures.

Burke is one of about nine public housing residents who've received small business loans through the Norfolk Redevelopment and Housing Authority's Resident Revolving Loan Program.

``The equipment has paid for itself,'' Burke said. After factoring in costs for the computer and supplies, she said, the business turned a $3,000 profit in this, its first year.

Ranging between $2,000 and $5,000, the loans probably couldn't be obtained at most banks, which usually turn down business loans below $5,000, said Ernie Wilson, NRHA economic development program manager.

The loans come at the rock-bottom rate of 1 percent interest, usually for a term of 24 months.

The federally funded program started with a $60,000 base, which is replenished as recipients repay their debt.

The loan program was formed three years ago to create jobs for the city's public housing residents who would be motivated to work for themselves.

Burke suffered a debilitating back injury in 1992, forcing her to leave her job as an administrative associate at Sentara Norfolk General Hospital.

Now she offers receptionist, file management and printing services from her home.

Her customers are local businesses, including dentists' offices, property management companies and others who need someone to make calls and handle paperwork, but can't afford full-time help.

In addition, Burke designs and prints fliers and business cards for companies and individuals, designs and writes resumes and offers a faxing service at bargain rates.

With companies downsizing and welfare rules getting tougher, the door is wide open for entrepreneurs, according to Wilson.

``Whenever you have a change in policy, whether it be public policy or corporate policy, you naturally create opportunities,'' Wilson said.

Specifically, opportunities for contract work - the same type that NRHA is facilitating with its loan program.

For example, other applicants have presented business plans for a security outfit, a home day-care service, and a catering company.

Want a loan but you're not a public housing resident? The program also is open to residents of any entity composed of 51 percent or more public housing residents.

``Our program gives a person an opportunity to build up a good business credit reference. We'd like to be able to shape people so they can eventually apply for expansion loans elsewhere and expand their business,'' Wilson said.

Wilson encourages would-be entrepreneurs to call NRHA before deciding their ideas won't fly.

He recalled a seminar he recently attended in Washington where he was told, ``even if their business idea sounds a little shaky, listen and hear it out, because some of the wackiest and craziest ideas have made millions of dollars.''

Burke conceded she won't become a millionaire anytime soon, but her reward is claiming her business for her own.

``People have a tendency to think you can't do, especially when your income is limited. They think you're just blowing steam. But it didn't make a whole lot of difference to me.'' ILLUSTRATION: Color photo by Richard L. Dunston/The Virginian-Pilot

Gail Burke, a resident of Norfolk's Tidewater Gardens, runs a small

administrative and clerical business from her kitchen. She received

a loan from the Norfolk Redevlopment and Housing Authority for

start-up funds to purchase a computer and other supplies. KEYWORDS: BUSINESS LOANS NORFOLK REDEVLOPMENT AND HOUSING

AUTHORITY'S RESIDENT REVOLVING LOAN PROGRAM

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