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802-479-0167
Fax: 802-479-2867
P.O. Box 342
107 N. Main Street, Suite 7
Barre, VT 05641
E:mail: info
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Images Courtesy of
Image Relay |
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Images Courtesy of
Image Relay
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An Alternative Financing Source
for Vermont Entrepreneurs
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| Vol 3, Issue 6
Vol 3, Issue 6
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 In This Issue
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Hardwick
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Greetings!
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From Emily Kaminsky, Director
In this issue, we introduce you to several collaborative initiatives that Community Capital is part of.
Articles this issue include:
- Hardwick Sustainable Food Tour
- Global Entrepreneurship Week - Regional Entrepreneur Days
- Community Capital Partners With Vermont Chamber of Commerce
- Merchants Bank Vermont Matters Initiative Update
And, a big welcome to Michael Carr to Community Capital Board of Directors! Mike was on staff as Southern Vermont Loan Officer and left earlier this year to join Holden Financial in his hometown of Brandon. Mike is a great resource for us in the Rutland area. Welcome back, Mike!
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The first of July was a sunny day. A perfect day to spend touring the Hardwick area's bountiful bevy of sustainable food and agriculture businesses. Forty-five individuals, from bankers to foundation representatives to investors, descended upon Hardwick that day to join a day-long learning adventure organized by Community Capital, High Mowing Organic Seeds, and the new Center for a Bio Based Economy.
Two 12-person vans and several cars trekked along the Rte 15 corridor to tour five businesses: AppleCheek Farm in Hyde Park, Jasper Hill Farm in Greensboro Bend, Vermont Soy and Vermont Natural Coatings in Hardwick, and Claire's Restaurant in Hardwick. At each site, owners told their story of startup and expansion, challenges and opportunities, and next steps for growth. The common thread throughout the day was that Hardwick businesses are repairing a broken food system together. While each one of these businesses stands on their own right as stable business ventures, they have demonstrated that close collaboration affords them greater opportunities to advance their business and their social missions than had they gone it alone.
The Center for a Bio-Based Economy, a new nonprofit founded by many of these businesses, is at the center of these collaborative efforts. Founding member and recently elected Board President, Tom Stearns (owner of High Mowing Organic Seeds), describes how working together has advanced the sustainable food business community, "The key to a strong food system in the greater Hardwick area is to create community-supported opportunities to strengthen the agricultural community through hard work, a clear vision, and good communication." Click here for a July 3rd article in the Brattleboro Reformer which highlights the Hardwick phenomenon.
After the tour, forty-five of us sat down together to reflect on the day, town-meeting style, at the Center's newly renovated office in downtown Hardwick. We reveled in our shared inspiration and awed at the collaborative spirit that sustains the "economic ecosystem" of Hardwick.
To see an online sampling of the businesses that we visited on our tour or participated in our afternoon meeting, please view the "Quick Links" section of this e-newsletter at top left.
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The Vermont Entrepreneurship Collaborative is hot to trot on planning a series of activities for November's Global Entrepreneurship Week. At its last meeting in June, a dozen activities were fleshed out by 44 attendees who represented lenders, educators, business development service providers, public policy makers, and business associations. in Randolph at the Vermont Tech Center.
Close to the top of the list of activities was "Regional Entrepreneur Days." The concept is simple. Provide a time and space in at least five counties or regions around the State for aspiring, would-be and existing entrepreneurs to connect with the business support services offered in their region and statewide. Add to that a regional youth business plan competition and entrepreneur recognition awards to both engage and inspire our young people. Winners of the regional competitions advance to the statewide competition to be held in Montpelier during National Entrepreneurship Week in February.
Each county or regional Entrepreneur Day will receive direction, funding, and support through a sub-committee of the Vermont Entrepreneurship Collaborative. This sub-committee is currently staffed by Community Capital, Johnson State College, Department of Education, Small Business Development Center, and Lyndon State College.
The first step in planning is to identify clusters of key people in various regions around the State who want to take on the task of launching an Entrepreneur Days in their area. Already, clusters have been identified for Washington County, Lamoille County, Northeast Kingdom, and Chittenden County. Community Capital will play a large role in helping to plan statewide. Through Entrepreneur Days, Community Capital will help connect entrepreneurs with resources and engage the next generation of entrepreneurs.
For more information on Regional Entrepreneur Days, please visit the Collaborative's online forum here. You can join the forum for free or view the content as a guest. For more information, contact Emily at [email protected].
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The Vermont Chamber of Commerce and Community Capital are working together to provide more opportunities for start-ups and existing businesses to access new markets, build business networks, and access new financing.
In June, Community Capital facilitated a Chamber webinar on "Creative Sources of Financing." Emily Kaminsky facilitated and presented. She was joined by Sam Buckley of Vermont Community Loan Fund, Marie Dussault of VEDA, and Lee Bouyea of FreshTracks Capital.
Also in June, Community Capital - through it's post-loan assistance program - helped two of its borrowers become new Chamber members. Both borrowers have received significant assistance from Chamber staff in building new connections and market opportunities.
In July, Community Capital will be holding a special webinar with the Chamber for the VT Entrepreneurship Collaborative to learn how to use the Community Zero online forum on entrepreneurship.
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And, here's an exciting update on the partnership between the Merchants Bank and Community Capital! In May 2008, 154 new business checking accounts were opened at Merchants Bank
Through its Vermont Matters Initiative, Merchants Bank has pledged $100 to Community Capital for every new business checking account opened at Merchants Bank statewide over a 3 month period. As of May 31, $15,400 has been raised to support Community Capital's statewide efforts.
The Vermont Matters Initiative lasts until July 31st! Spread the word! The more accounts opened, the more support Community Capital receives!
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If you have news that you would like featured in any of our upcoming e-newsletters, please contact me at 802-479-0167 or [email protected]. Until next time...
Sincerely,
Emily Kaminsky , Community Capital of Vermont
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