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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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September 2008 E-Newsletter
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An Alternative Financing Source
for Vermont Entrepreneurs
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| Vol 3, Issue 6
Vol 3, Issue 8
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In This Issue
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Greetings!
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From Emily Kaminsky, Director
This issue, we introduce you to three of our newest borrowers, all of whom received Job Start loan capital as part of their financing package through Community Capital:
- Robert McLane, B&L Towing (South Barre)
- Debbie & Karl Anderson, Anderson's Auto Glass (Williston)
- Ron Gottier, Cold River Frameworks & Gallery (Rutland)
We also invite you to visit this link to read about another new borrower - MacLaomainn's Pub, located in Chester, Vermont. They were also funded in part with Job Start loan capital.
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For 32 years South Barre's Bob McLane worked for other people. And while he enjoyed his work and took pride in the job he did, he never got the opportunity to do what he really wanted to do - go into business for himself. But thanks to Community Capital, that all changed when McLane's B&L Towing opened for business last June.
"It feels good to be on my own because I am doing something that I enjoy," said McLane. "A lot of people go to work everyday and hate their jobs. I like my job." McLane's transition from employee to small business owner was made possible by an $18,000 business loan he received from Community Capital of Vermont's Job Start loan fund. The program provides microloans to entrepreneurs who are unable to access bank financing because of lack of a business track record or financial resources.
The loan allowed McLane to make the capital investments required to start his towing company, including purchasing a flat-bed truck and assorted tools. "There is no possible way I could have done it on my own," said McLane, who has worked with and around cars nearly his whole adult life.
McLane used Community Capital's Post-Loan Technical Assistance grant to help him get his business started after receiving the loan. "It helped me understand more about business and how to manage it better," said McLane, who says that without the private consultations he would have had to use some of his scarce resources to hire an accountant. "I would recommend Community Capital of Vermont to anyone seeking to start a business."
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Anderson's Auto Glass is the antique classic and street rod lovers go-to place for custom cut glass. Karl Anderson got his start in this niche industry at his father's shop, Countryside Glass. Then, sixteen years ago, Karl went out on his own and started Anderson's Auto Glass with the help of a Vermont Job Start loan.
Now, he and his wife Debbie have a humming glass replacement and repair business, servicing classic and streetrod cars, heavy equipment vehicles, motorcycles, and commercial fleets. They are also regular vendors at the September Street Rod show at the Champlain Valley Fair Grounds. Debbie has been running Anderson's booth at the Street Rod show for ten years now.
"Karl and I really enjoy working on the street rods and classic cars because every car is different. It's a challenge!" said Debbie. She added, "And, Karl is really good at what he does!" When they needed additional financing to grow their business, they turned to the Vermont Job Start loan fund again which is now housed at Community Capital of Vermont. With a loan under their belt, they are now in prime position to take advantage of new business opportunities. Karl explains, "With the loan, we can now expand our cutting and shipping of glass for the older vehicles to the greater Northeast and beyond."
The Andersons credit the MicroBusiness Development Program at CVOEO for helping them pull together their business plan for a loan. "Our business counselor, Simeon, is just awesome. We still keep in touch with him for support on our business," Debbie says. When asked what words of wisdom they would share with new business owners, they said, "Find your clients before you open. Once you know who they are, go to a place like the MicroBusiness Development Program and make sure you have help getting your dream and vision on the right track!"
Anderson's Auto Glass is located at 236 Krupp Drive in Williston. For more information, call 802-658-4772.
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| Cold River Frameworks & Gallery |
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 Meet Ron Gottier, proud new owner of Cold River Frameworks & Gallery in downtown Rutland, a frame shop offering custom built frame services as well as do-it-yourself framing opportunities. Ron explains that unlike most frame shops, Cold River does all of its framework in house. All frames are cut in-house as opposed to being pre-cut by the supplier. This allows Ron to keep a wide selection of inventory and maintain lower prices. His Frequent Framer program will also allow do-it-yourself framers to experience the joy and satisfaction of building and assembling their own frame.
Ron's shop is focused on providing quality frame products and customer service at a reasonable price. Ask Ron, though, and he'll tell you that Cold River is more than a frame shop. Cold River will have a monthly rotation of work from local artists featured in its own gallery, offer discounts to artists and students, carry in-stock local school colors, and offer locally milled frames and color matching systems rarely found in other frame shops. Ron is also already an active member of the Rutland downtown community and plans on hosting artist-focused events in his shop promote the downtown.
When asked what motivated him to start his own business, Ron replied, "Going into business for myself is something I always wanted to do and knew would happen. There are many other reasons such as being a part of something in my home town and offering a service that is needed to people who would benefit from it."
Ron used many resources to develop his business plan and get started. "I spent a lot of time contacting other people in my field, going to meetings and seminars, and received guidance on how to start my business from the Vermont Small Business Development Center," he explained. "Their support combined with my experience in the industry, gave me the confidence I needed to start this business."
"Community Capital was there pretty much from the start of my endeavor," Ron explained. "They guided me in the right direction and ultimately provided me with the loan to open Cold River."
Cold River Frameworks & Gallery is located in downtown Rutland at 122 Merchants Row. For more information, contact Ron at crfinrutland@comcast.net
or 802-282-4420.
Click here to learn about other Community Capital borrowers...
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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 ekaminsky@cvcac.org. Until next time...
Sincerely,
Emily Kaminsky , Community Capital of Vermont
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