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Community Capital of Vermont June 2007 E-Newsletter
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An Alternative Financing Source
for Vermont Entrepreneurs
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In This Issue
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Loan Fund Network Websites
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Greetings!
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From Olivia Gay, Loan Officer
Welcome to our June issue!
This month, our Quick Links section at left highlights national loan fund networks. We take pride in our active involvment in the community development financial movement to support local entrepreneurship and build strong communities. We are also thrilled to be part of the upsurge of energy in downtown Barre as well as just plain enjoying where we work every day. In this issue, we feature two of our Barre borrowers and highlight a wonderful personal finance resource also based in Barre.
- Business Owners - Valerie and Richard Beaudet - Firehouse at Barre
- LACE Grand Opening in Barre
- Build Your Money Muscles - Personal Finance Support Group Forming
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After submitting the winning proposal to the City of Barre, Valerie and Richard Beaudet used Community Capital dollars, along with a Community National Bank loan, to purchase the historic Barre firehouse. Renovations to this attractive downtown landmark are proceeding apace in anticipation of a late July opening. The Beaudets are drawing on their varied experiences in renovation, marketing, and management, combined with their enthusiasm for a remarkable building, to create a multi-faceted enterprise that will support the vitality of Barre's business environment.
The Beaudets will move their popular floral business, Flowers by Emslie and Company, into the first floor. Gift items will be expanded, augmented by over twenty Vermont Handcrafters consignments through The Granite City Craft Gallery. The lush garden environment will provide the perfect backdrop for the Firehouse Roasting Company and Cafe, a cafe and coffee house slated to occupy a portion of the first floor. In addition, other businesses have already contracted to rent space on the second floor.
Valerie and Richard's vision includes thoughtful attention to history, aesthetics, and community development. Valerie comments: "My husband and I realized the potential in this abandoned building as a vehicle for expanding our flower shop and transforming it into something truly unique. By adding the coffee house and the craft gallery, along with the hair salon and professional offices upstairs, it is on its way to becoming a local gathering place. We will showcase this amazing historic building with firehouse memorabilia and photographs from Firehouses throughout the State, and plan to grow this into a popular tourist destination".
Valerie adds that "This "dream come true" would not have been possible without the support from Community Capital. They were more than willing to work with us to find a loan program that fit our needs. They understood our need to grow our business, as well as benefit the community of Barre City. Thank you again Community Capital for having faith in our vision."
Photo by Jeb Wallace-Brodeur courtesy of the Times- Argus - Thank you Jeb!
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Robin Chase, Community Capital Board Member, poses with Ariel Zevon at the LACE opening. Below is his report on the event.
On Sunday, June 10, 2007, LACE (Local Agricultural Community Exchange) had its Grand Opening in the old Homer Fitts building on Main St. in Barre, VT. Huge crowds from throughout the Central Vermont community walked through their doors to the sound of live music and a wide array of agricultural products, fresh baked breads, soups, sandwiches, and a variety of café drink offerings.
Conceived and implemented by Ariel Zevon and supported by several financial institutions including Community Capital of Vermont, LACE is promoting and supporting local agricultural businesses through product placement, a local farmer's market, and educational outreach programs.
Given the initial response and interest from the community, LACE hopes to fulfill a need for a local Barre downtown grocery store and café while providing high quality food products from local farmers and educating the community on the value of consuming locally produced food and supporting the regional economy.
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Join the new Build Your Money Muscles sessions in Barre at the Central Vermont Community Action Council and you will find the support you need to move from financial discomfort to free-flowing prosperity.
- Times: Thursdays 5 - 7 p.m. June 14, 21, 28 July 5,12,19; Aug. 2, 9, 23
- Location: Central Vermont Community Action Council Conference Room
- Call: 479-1053 or 1-800-639-1053 ask for Margaret Ferguson Ext. 252
Let's face it - it's tough to make real and lasting financial progress. But it's a fact that when people work together in a group towards a common goal, everyone involved is more likely to reach the goal than if they try to do it alone. That's why working with others in a Build Your Money Muscles support group will ensure your financial success.
In these sessions you will:
- Know where your money goes because you tracked it everyday
- Learn how to plan a budget you set
- Request a copy of your credit report and know how to read it
- Know how to establish credit if you do not have any
- Begin to repair your credit if that needs to be done
- Start a savings account and/or a checking account
- Locate and file all your important documents in one convenient place
Since December 2005, a Build Your Money Muscles support group has been meeting in Barre, Vermont twice a month. Some people have stuck with it the whole time, others come and go. But everyone who makes the effort to follow the program outlined in the book, Build Your Money Muscles, has seen measurable improvement in their finances.
- Debts have been reduced or eliminated
- Credit is being repaired
- Income has improved
- Businesses have started
- Compulsive shopping has stopped
- People who never kept financial records now do so regularly.
- Financial insecurity has been replaced by feelings of safety
- Group members have found profitable avenues for their creative expression
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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,
Olivia Gay
Community Capital of Vermont
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