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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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Spring 2008 - Vol 3, Issue 4
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In This Issue
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Greetings!
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From Emily Kaminsky, Director
Welcome to our Spring 2008 newsletter!
May 1st marked the transfer of the Vermont Job Start Loan Fund from VEDA to Community Capital. Pictured above are Community Capital's Emily Kaminsky, Governor Douglas, and VEDA's Jo Bradley. Job Start friends, supporters, and borrowers joined the Governor on May 6th at the Statehouse's Cedar Creek room to celebrate Job Start's new home at Community Capital and its 30 Year Anniversary!
This issue, we introduce you to Jessica Turner, owner of Capital Kitchens, a new retail store carrying specialty kitchen products in Montpelier.
Other articles this month include:
- Merchants Bank Supports Community Capital
- New Hire: Robin Svarfvar
- Community Capital in Barre
- Vermont Entrepreneurship Collaborative
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On May 1, Jessica Turner opened the doors to Capital Kitchen at 18 Main St. in Montpelier. Although Turner is a first time business owner, she worked for four years as an employee of Mise en Place (previously on Main St. in Montpelier) before it closed almost two years ago. She attributes a lot of her kitchen ware knowledge to the owner of that store, Lori Miller.
In the years since the closing of Mise En Place, Turner, who has a background in journalism, worked for Vermont Life Magazine. "While I was there, I always thought about owning my own business" she said.
Earlier this year, Turner took the leap and contacted Community Capital to help her finance her plan. "I don't have a lot of debt and I don't own a lot, so traditional financing wasn't right for me. But I had a good strategy for making this business a success, and Community Capital saw that. And they're not just about giving people the money to start their business, they're about helping you succeed."
Turner plans to sell "useful, everyday gadgets and kitchen goodies," including linens and serve ware, and merchandise from Emile Henry, OXO and KitchenAid. The store will also offer a wedding and gift registry. Turner will be in the store much of the time, but has hired one part-time employee who will start in the summer.
For more information call 802-229-2305 or visit www.CapitalKitchenVT.com.
Click here to visit Capital Kitchen's website...
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In celebration of Community Capital of Vermont acquiring the Vermont Job Start Loan Fund, the Merchants Bank has announced that through their Vermont Matters initiative they will donate $100 to Community Capital for every Rewards Checking for Business account opened before July 31, 2008.
"Merchants Bank believes in what Community Capital does for people who want to start a business in Vermont. Some would-be entrepreneurs may not have a lot of start-up capital and they won't qualify for traditional financing, but they may have a solid business plan and could really get something off the ground with the right assistance. From January 1st to March 31st we had over 400 business checking accounts opened, so if you do the math, this should be a great benefit to Community Capital," said Doreen Allen, Community Reinvestment Act Officer of Merchants Bank.
"We're thrilled that Merchants Bank has offered us their support through this initiative," said Community Capital Director Emily Kaminsky. "This is an exciting time for Community Capital with the transfer of Job Start and the support we've received from organizations around the state. And we've seen so many of our borrowers get off to a great start in recent months - Capital Kitchens in Montpelier, Women and Children First in Barre, and Pilates Space in Burlington to name a few. It has been a great year for us already."
Thank you, Merchants Bank, for your commitment to microbusinesses in Vermont! Please spread the word about Merchants Bank's business checking accounts - the more opened over the next 2 1/2 months the more benefit for Community Capital and our borrowers!
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As part of its plan to sustain a full array of alternative loan and business development services statewide, Community Capital has recently hired Robin Svarfvar as its full-time Southern Vermont loan officer. Robin replaces Michael Carr, who served in that position temporarily to help Community Capital begin making loans and develop a presence in Southern Vermont.
As part of the our team, Robin will underwrite loans for and be responsible for developing relationships with potential borrowers in Bennington, Rutland, Windsor and Windham counties through marketing and outreach efforts. She will also serve as the primary contact for existing Southern Vermont borrowers, servicing and collecting loans, and connecting borrowers to post-loan resources.
Born and raised in Central Vermont, Robin brings twenty years of experience in the banking and insurance industries to Community Capital. She began her career at the National Life Group in the actuarial department specializing in annuities, and also worked for several years in National Life's annuity marketing department.
Robin later accepted a job at Banknorth as a mortgage loan officer and was a key provider of loans to low- to moderate-income Vermonters. Robin worked closely with the Community Land Trust and first time home buyers. After several very successful years Robin obtained her property and casualty insurance license as well as her life and health license, and worked as an insurance agent for State Farm.
Robin lives in Barre with her three children, Alyssa, Dustin and Alayna, and looks forward to working with small business owners to ensure their growth and prosperity with the help of Community Capital of Vermont.
Robin can be reached at [email protected] or by cell at 802-371- 8767. WELCOME ROBIN!
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The Vermont Entrepreneurship Collaborative is a recently established network of over 50 business leaders, educators, economic development professionals, bankers, and public policy leaders who have come together for the following purposes:
- to promote and celebrate entrepreneurship;
- to connect existing business development resources with one another and to entrepreneurs;
- to inspire a new generation of Vermonters to consider entrepreneurship as a career; and,
- to engage opinion leaders and decision makers around supporting a strong entrepreneurial culture in Vermont.
In addition to coordinating activities within these goals, the Collaborative is also the organizing entity in Vermont to celebrate the Kauffman Foundation's Global Entrepreneurship Week in Vermont (November 23-30, 2008) and Association for Microenterprise Opportunity's National Entrepreneurship Week (last week of February 2009).
The Collaborative is new, having held its first meeting in April 2008. The next meeting is June 10, 2008 at the Vermont Tech Enterprise Center in Randolph, VT from 9:00 am to 12:00 noon. Some exciting new collaborative projects are being developed to promote entrepreneurship and connect business leaders with the educational system. Your voice and participation is welcome! To RSVP, please click here.
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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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