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| Volume 3 | No.1, 2000 |
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A Publication Of The Brooklyn Economic Development Corporation |
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INDEX BEDC Presents Trickle Up Grants To Two Brooklyn Entrepreneurs |
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BEDC
Presents Trickle Up Grants |
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Two hardworking entrepreneurs were presented with Trickle Up grants by the Brooklyn Economic Development Corp. (BEDC) in March. Trickle Up Program grants total $700 and provide seed capital to economically disadvantaged people so that they can start or expand their own small businesses. The grant recipients, both Brooklynites,
were Susann Svendsen, a single mother on public assistance, who will
use the money to launch a tour business called Native New Yorkers
Inc., and Elizabeth Lambacker, a tutor for 18 years, who plans to
market and buy supplies for her firm, Expert Tutoring. |
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Ms. Lambacker said that because of the increased demand for her tutoring services, which include reading, math, standardized test preparation, and English as a second language classes, she was forced to expand and hire a tutoring team that she now manages. "The grant will help me expand," said Ms. Lambacker, whose firm caters to children from low-income backgrounds and adults. "This is a new phase in my career." Representatives from BEDC, which is one of the coordinating agencies for the Trickle Up Program, selected the two entrepreneurs after reviewing and approving their business plans. Ms. Svendsen and Ms. Lambacker received checks of $500 as conditional seed capital. Three months after receiving the initial checks, they will submit business reports to Trickle Up and, if the reports are approved, each will be issued the final $200 installment of the grants. In a year, the entrepreneurs will be asked to complete a follow-up questionnaire on the status of their respective businesses. "The Trickle Up Program gives us an extra tool to work with and allows us to address the needs of the most economically disadvantaged sectors of the population," said Hector Rivera, managing director of BEDC and the organization’s coordinator for the Trickle Up Program. "While the grant may seem small, $700 constitutes equity for people who might not otherwise have any." |
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Best Center Gets Grants Opening Date Is Set |
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"BEDC’s view of economic development is inseparably intertwined with community development and empowerment," said Hector Rivera, managing director of BEDC. "By offering entrepreneurial support and training, we are achieving our mission of helping to expand social and economic opportunity in underserved communities." The BEST Center will be a full-service, one-stop entrepreneurial training and information resource center that will be available to all of Brooklyn’s small business owners and entrepreneurs. Individuals with expertise in doing business in Brooklyn and New York City will staff the Center, and most programs and services will be provided at low or no cost to clients. "We're hoping the next Bill Gates or Martha Stewart might walk through the doors of the BEST Center," said Stuart Leffler, manager of Economic Development for Con Edison-Brooklyn. "We know that a budding Brooklyn entrepreneur, with the right guidance, can become a Brooklyn success story--buying or leasing Brooklyn space, using Brooklyn goods and services, and spreading the word about Brooklyn being a good place for business." "KeySpan recognizes the importance of helping the communities we serve," said Domenic Abbatiello, director of Economic Development for KeySpan Energy. "By supporting our business community we are stimulating entrepreneurial opportunity and encouraging economic success." The BEST Center will complement the services currently offered by BEDC and will include the following: One-to-one counseling on business plan preparation and business management, assistance with identifying and applying for business financing; intensive 60-hour classroom training on starting and running a business. Additionally, the BEST Center will organize and host seminars on topics of importance to small business owners, offer online services and Internet access and assist with real estate needs. The Best Center will actively seek to create networking opportunities for Brooklyn’s small business community and provide individual referrals for special programs and services offered by other entities. Another resource available to BEST Center clients will be the services of the Minority Business Opportunity Center (MBOC). Clients will have access to procurement assistance services for minority businesses, assistance with the certification process for minority and women businesses and, advocacy and red-tape cutting. |
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 Jeannette Gadson, Brooklyn’s Deputy Borough President, center,
addressed audience at forum to discuss opportunities for small disadvantaged
and women owned businesses to participate in the Renovation and Re-Use
Post Office and the New US Courthouse projects in Brooklyn. Officials
from Jones-GMO, the general contractor for the projects, were present
to provide information. The forum, sponsored by the Brooklyn/Queens
Minority Business Opportunity Center (MBOC), was held on March 17
at BEDC. Ms. Gadson is flanked Pat Williams, Director of MBOC, left,
and Mark O’Luck, Chairman of the Brooklyn Economic Development
Corporation.Top |
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"The Community Economic Development
Council is designed to encourage collaborative relationships among
community-based organizations that are engaged in economic development
activities and to serve as a means of sharing and disseminating information,"
said Joan Bartolomeo, President of BEDC. "We hope to get people
talking to each other and sharing best practices, so that organizations
aren’t reinventing the wheel." |
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"Brooklyn has a large number
of community organizations that take the broad view and aren’t
just concerned with single issues," Ms. Bartolomeo continued.
"Unfortunately, because of the scarcity of funds, relationships
between community-based groups in the past have been competitive rather
than collaborative. We hope to change that through the Council."
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General meetings of the Community Economic Development Council will be scheduled at least four times a year and members will be given the opportunity to make presentations on effective programs they are offering in their communities. The next meeting is scheduled for 8:30 a.m., Tuesday, July 11, 2000, at BEDC’s offices. Based on a survey of Community Economic Development Council participants, four committees have been formed including the Legislative Committee, Resource Development Committee, Education & Training Committee, and Infrastructure Improvement Committee. At an April 11, 2000, meeting, Council participants signed up for committees, which will meet at least six times a year. Katherine Kilrain of BEDC will serve as the liaison between Council participants and BEDC. In her position, Ms. Kilrain will facilitate communications between members, mobilize the group around issues of critical importance, provide Web resources, and help the committees get established. The Council is made possible by
funding from the U.S. Economic Development Administration and the
New York City Department of Business Services. |
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Matching Funds Now Available For Trickle Up Grant Recipients |
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The pilot program is an enhancement to BEDC’s current Trickle Up Grant Program because the combined $1,400 in equity can be used by grant recipients as the 25 percent equity needed to leverage a loan from REDAC. The new loan fund is made possible by a grant from the Empire State Development Corp. REDAC expects to do 20 loans through this program. |
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Solutions is partially funded by the New York City Department of Business Services.
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