“Doug Caywood and Roxanna Hazy-Kelso joined the IDA program in 2010 and were early participants of the special 2:1 match savings for small businesses,” according to Margaret Gilbert, IDA director.
“Roxanna and Doug each saved $1,200 and each received matching funds of $2,400 for a total of $3,600 toward the expansion of their small business.”
Bradley Initiative for Church and Community launched the IDA Program in 2003 and has been providing 1:1 match savings for individuals and families in the Cleveland and Bradley County community who choose to save toward home ownership, post-secondary education or to start or expand a small business.
With the national economic conditions and the emphasis on small business and its role in the recovery, SunTrust Foundation partnered with BICC in 2010 with a $5,000 grant that would provide an extra $1 to the existing 1:1 matching program to start or expand a small business. With that partnership, the match became $2 for every $1 saved for the IDA participants.
Doug Caywood is the owner of Downtown Design Studio, a small business in Cleveland. He plans to use his funds to purchase a computer software program that will allow him to expand the capabilities of his current architectural service and enable him to bid for local, state and federal government contracts.
“The IDA matching fund helped me to be able to purchase much-needed software and training to make my business more competitive in the architectural market,” Caywood said. “By saving for 12 months and taking the money management training, my savings grew by 200 percent. This made it possible to purchase the software and training to expand my business at a time when many small businesses are closing. I greatly appreciate what BICC is doing in our community.”
Hazy-Kelso, owner of the Hideaway Diner in Charleston, plans to expand her small business by using the funds to purchase new equipment for the kitchen that will allow her to cut the cost of production almost half.
“The Buffalo Chopper that I am able to purchase will quickly and easily chop everything for me,” she said. “The extensive time and labor that it took to hand chop slaws and salads can now be directed to other areas that will further enhance the quality of dining experience for our customers at the Hideaway Diner. As the owner of a ‘new’ small business in these hard economic times, the BICC matching funds have truly been a blessing and has made it possible for me to purchase a $3,600 equipment that I would not have been able purchase otherwise.”
Angela Conner, representative of SunTrust Foundation said, “SunTrust is very excited to be a partner of the IDA Savings Program with BICC and witness the impact that has been made with Small Business Development in the Cleveland and Bradley County area. The contribution to this program aligns with our mission to help people, communities and institutions prosper and we are grateful to BICC and the participants in the IDA program in making this a reality. “
Brenda Hughes, BICC executive director, pointed to these programs and local success stories as examples of how BICC initiatives are aiding the community.
“This is only an example of the many ways that BICC is making a positive impact in our community,” she said. “However, these things would not be possible without the many individuals, churches, businesses and foundations that support this nonprofit organization. We are very grateful to everyone who has contributed their time and resources to make BICC what it is today.”
On Nov. 7 at 6:30 p.m., the annual BICC Fundraising Banquet will be held at the DeVos Recreational Center at Lee University. The theme this year is “Mending Lives — Restoring Families” with Dr. James Patrick Daugherty as keynote speaker.
“Helping to support BICC is a way for everyone in our community to truly be a part of something that is making positive long-term changes in our community by impacting one life [or] family at a time,” Hughes said.
Tickets are $75 each and can be purchased by calling the BICC office at 559-1112 or emailing email@example.com.
Additional information may be obtained by visiting the BICC website at www.bicc-inc.org. More information about the BICC IDA program may be obtained by contacting Margaret Gilbert at 423-559-1112 or email firstname.lastname@example.org.