|
 |
 |
Accomplishment Highlights
Outcomes for October 1 to September 30 Fiscal Years |
| FY 2000 | FY 2001 | FY 2002 | |
|
Total Number of participants |
810 |
883 |
1165 |
|
Total Number of clients (1) |
304 |
268 |
516 |
|
Businesses Started by clients |
58 |
68 |
78 |
|
Starts by clients at or below 100% poverty |
39 |
35 |
40 |
|
Starts by Food Stamp recipients |
23 |
21 |
33 |
|
Starts by Reach-up recipients |
10 |
10 |
16 |
|
Businesses Expanded |
24 |
50 |
54 |
|
Businesses Enhanced |
51 |
56 |
96 |
|
Jobs Created |
67 |
83 |
101.5 |
|
Loans Leveraged |
$1,035,828 |
$486,795 |
$1,446,674 |
|
Number of loans |
148 |
94 |
100 |
|
Cost per job |
$5,865 |
||
|
Cost per start, expansion, enhancement |
$3,701 |
||
|
Business Starts per Number of clients requesting start-up assistance |
31% |
||
|
Businesses Started/Expanded/Enhanced per Number of clients requesting such assistance |
52% |
(1) Defined as clients receiving 10 or more hours of one-on-one business counseling or 10 or more hours of classroom training.
In achieving these outcomes in FY 2002, MBDP served these diverse groups of people:
- 53.5% live below Federal Poverty Guideline
- 77.8 % live below 150% Federal Poverty Guideline
- 56.6 % are women
- 11.8 % are minorities
- 51.1% are unemployed
- 29 % have a disability
- 17.2% are on Reach-up
- 24 % are single parents
- 8.7% are veterans
- 13 % do not have a high school diploma
- 38.4% receive Food Stamps
We are proud of the access to capital network we have developed
allowing our clients to access a range of capital sources including
Vermont Job Start, local community banks, SBA Micro-loan lenders
and Vermont Community Loan Fund. The following chart illustrates
the amounts of capital accessed last year through various sources:
|
Loan
Source
|
Total
Amount Loaned
|
Number
of Loans
|
|
Bank |
$531,000.00 |
11 |
|
Other |
$456,173.00 |
26 |
|
Equity |
$297,524.00 |
6 |
|
VEDA
Job Start Program |
$252,964.00 |
25 |
|
Revolving
Loan Fund |
$125,000.00 |
4 |
|
Individual
Development Account (IDA) |
$39,826.91 |
23 |
|
Vocational
Rehabilitation (VR) |
$33,909.88 |
29 |
|
Vermont
Development Credit Union (VDCU-SBA) |
$32,000.00 |
1 |
|
Vermont
Development Credit Union (VDCU-Non-SBA) |
$4,217.10 |
1 |
|
Trickle
Up |
$2,600.00 |
7 |
We
are proud of the institutional linkages we have made with state
agencies including Department of Prevention, Assistance, Transition
and Health Access (PATH), Department of Employment and Training
(DET) and Division of Vocational Rehabilitation that have helped
us grow over the last five years. MBDP staff have good working relationships
with staffs at all the regional offices of these agencies. Our relationship
with PATH goes a long way back, and we have received numerous referrals
from this department. Slightly
over 6% of our clients are referred by PATH.
Six percent of our clients are referrals from DET. Vermont Division of Vocational Rehabilitation (VR) has a long
history of referrals to MBDP, and staffs from the two organizations
frequently collaborate closely on challenging cases as well as share
referrals. Thirty percent of our clients are referred by VR.
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