Capstone’s Micro Business Development Program receives $10,000 Wells Fargo Foundation Grant

25 July 2017

Capstone’s Micro Business Development Program receives $10,000 Wells Fargo Foundation Grant

For Immediate Release

Contact: Yvonne Lory, Capstone Community Action

Phone: 802 479-1053

 

Capstone’s Micro Business Development Program receives $10,000 Wells Fargo Foundation Grant

 

(Barre, VT) Capstone Community Action’s Micro Business Development Program received a $10,000 grant from the Wells Fargo Foundation. The grant will strengthen Capstone’s efforts to provide low income aspiring entrepreneurs with technical assistance, capacity building and mentoring support as they look to launch or expand a micro business.

 

Micro businesses, which employ less than five employees, represent more than 60 percent of all private enterprises in the state. Last year, Capstone helped individuals launch or expand 18 new businesses in central Vermont, creating 34 Full Time jobs and accessing over $853,000 in financing from local financial institutions and credit unions.

 

Capstone works with over 200 individuals, providing one-on-one business counseling and training. This includes helping individuals develop a business plan, learn how to track income and expenses, understand recordkeeping, as well as pricing and profit, create marketing plans and access financing.

 

“Micro business development is proven to be an extremely effective and cost-efficient job creator that supports the community’s economic vitality,” states Dan H. Hoxworth, Capstone’s Executive Director. “At Capstone, our mission is alleviating the suffering caused by poverty by building sustainable households and communities. With this Wells Fargo grant, the micro business development program will help improve the economic futures of all employers and their employees.”

 

“Capstone Community Action provides a variety of critical programs that help to build a stronger and more vibrant community,” said Briana Curran, vice president, communications and community development, Wells Fargo New England. “Wells Fargo is pleased to be able to support the Micro Business Development Program that is helping small businesses grow, create jobs and make a lasting impact in central Vermont.” 

 

Micro business development is one of several Capstone programs that contribute to the economic vitality of individuals and the community in central Vermont. Other community and economic development programs include financial literacy coaching, Volunteer Income Tax Assistance, the Childcare Food Program, and the Community Kitchen Academy in Barre. 

 

Capstone Community Action was founded in 1965 and works to alleviate the suffering caused by poverty and to create economic opportunity for people and communities.  Capstone’s programs include emergency food assistance, emergency heat and utility assistance, housing counseling including homelessness intervention, transportation assistance, workforce development, home weatherization, and child and family development programs in Early Head Start/Head Start. We serve over 15,000 people through these programs each year.

 

To learn more about Capstone Community Action and the Micro Business Development Program, contact Yvonne Lory at (802) 479-1053 or visit the Capstone Community Action website at www.capstonevt.org

 

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Our Locations

Washington County

20 Gable Place, Barre, VT 05641
1-800-639-1053 or (802) 479-1053

Lamoille County
197 Harrel Street, Morrisville, VT 05661 1-800-639-8710 or (802) 888-7993

Orange County East
P.O. Box 500, 22 Whistle Stop Way, Bradford, VT 05033
(802) 222-5419

Orange County West
PO Box 284, 12 Prince Street, Randolph, VT 05060
1-800-846-9506 or (802) 728-9506

Mad River Valley
Evergreen Senior Center, 5308 Main Street, Waitsfield, VT 05763
(Located in building basement.) 802-496-6900


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