Business
New grants enable WBDC to provide more support
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Apr 5, 2011 - 5:58 AM

Thanks to an initial investment of $10,000 by NewAlliance Bank, The Women's Business Development Council of Connecticut (WBDC) has established a new Opportunity Fund which will offer a unique opportunity for post-training support and guidance to WBDC scholarship recipients who have successfully completed one or more of the WBDC's Business Planning, Career Development, and/or Advanced Financial Coaching programs.

“This investment from NewAlliance Bank illustrates very clearly the bank’s commitment to community and the vision in leadership within the bank to enhance existing programs of excellence with additional resources to ensure success. We are pleased and proud of our partnership with NewAlliance Bank and hope other financial institutions based in the community will follow their example," says Fran Pastore, WBDC CEO.

“NewAlliance Bank is pleased to support the Women’s Business Development Center and to help launch this important fund targeted to disadvantaged women to help them achieve their personal and professional goals,” says Paul McCraven, SVP Community Development for NewAlliance Bank (which will become First Niagara Bank on April 15, pending regulatory approval). “It is particularly gratifying that these funds will help scholarship clients who are working to achieve economic self-reliance through small business ownership.”

Like the programs themselves, the new support falls into three categories.

1. Business Planning Technology Grant:

Clients who have completed the WBDC Business Planning Program may be poised to start a business, yet have limited access to the tools they need to be competitive. The new technology grant will enable them to purchase a netbook, QuickBooks software or other WBDC-approved software with a small business focus. The grant may also cover initial set-up support by WBDC.

2. Career Development Services Grant:

Similarly, those who have completed the Career Development training can now be assured of extended access to a WBDC professional coach who will help them evaluate their skill sets, further develop career goals, craft an action plan, and provide resume assistance. The new Career Development

Services grant also offers three additional focus coaching sessions to begin to implement their action plans.

3. Advanced Financial Coaching Program Grant:

Clients who need support to address immediate critical financial issues to get them on the road to financial stability/recovery can enroll in the WBDC Advanced Financial Coaching Program. The Opportunity Fund will provide additional support of a professional financial coach.

To be considered for the Opportunity Fund clients must meet strict eligibility requirements and be approved by a WBDC staff member. An interview is required. For more information please contact Marian Cicolello at mcicolello@ctwbdc or 203.353.1750.

For more information, visit www.ctwbdc.org

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