The Vermont Irene Flood Relief Fund is awarding $86,500 this week in new grants to 48 small business impacted by flooding. To date, the Fund has granted $289,000 to 167 businesses located in 10 of Vermont’s 14 counties. The Fund has received 239 requests for assistance, with applicants estimating losses totaling in excess of $25 million ‘ with insurance covering only an estimated 20% of the damage.
The Fund has received more than 400 donations from individuals, businesses, and foundations from around the United States and even overseas. Two recent grants from the Argosy Foundation ($50,000) and the Newman’s Own Foundation ($30,000) have boosted the Fund’s capacity to continue making grants.
‘The outpouring of support to help the business community recover has been incredible,’ notes Kate Paine, Executive Director of the Women’s Business Owners Network, who serves on the Fund’s seven-member application review panel. ‘It really speaks to the special nature of our state when people respond so willingly with financial resources and as volunteers to help out in times of great need.’
Charlie Wilson, Chairman of the Vermont Alliance of Independent Country Stores, has also helped review applications to the Fund. ‘It has been both incredibly rewarding to be able to help direct money as an outright grant to so many business owners in need of relief, and frustrating that we couldn't give them all more,’ he notes. ‘I hope we've been able to help, even in a small way, these businesses get back on their feet.’
‘It has been absolutely heart-wrenching to learn about the nature and extent of the flood damage to the small business community,’ says Hal Cohen, Executive Director of the Central Vermont Community Action Council. Cohen’s agency is the fiscal agent for the fund and he also serves on the application review panel. ‘It’s clear that we face a long road to recovery, but I know Vermonters will continue to help in whatever ways they can until our communities are made whole again.’
About the Vermont Irene Flood Relief Fund (www.vtirenefund.org)
Founded in August 2011 by Montpelier resident Todd Bailey for the purpose of raising money to support small businesses damaged by flooding from Tropical Storm Irene. After a grant application review process, all funds raised will be directly awarded to Vermont businesses in their efforts to rebuild from damage or losses sustained. Grant applications can be obtained online at www.vtirenefund.org or by calling 802-552-3449.
Fiscal Agent: Central Vermont Community Action Council
Founded in 1965, Central Vermont Community Action Council (CVCAC) helps people achieve economic sufficiency with dignity through individual and family development. CVCAC is part of the nationwide network of Community Action Agencies; a 501(c)3 nonprofit agency and a Community Development Corporation. The organization serves over 18,000 low-income Vermonters each year in Washington, Orange and Lamoille counties and offers a number of statewide programs. www.cvcac.org
Member of the VT Irene Flood Relief Fund Advisory Committee:
· Todd Bailey ‘ Associate at KSE Partners (www.ksepartners.com)
· Andrew Brewer, Owner, Onion River Sports
· Hal Cohen, Executive Director, Central Vermont Community Action Council
· Andrea Cohen, Executive Director, Vermont Businesses for Social Responsibility
· Kate Paine, Executive Director, Women Business Owners Network and Principal, Kate Paine Associates
· Shawn Shouldice, Principal, Capital Connections, LLC
· Charlie Wilson, Chairman, Vermont Alliance of Independent Country Stores
· Kevin Wiberg, Fund Administrator,