CLEVELAND, Tenn. – A matching savings program through the Bradley Initiative for Church and Community is giving two small businesses a chance to expand.
BICC launched its Individual Development Account program in 2003.
Margaret Gilbert, IDA director, said architect Doug Caywood and restaurateur Roxanna Hazy-Kelso joined the program in 2010 and were early participants in a two-for-one matching savings for small businesses.
The two business owners, she said, each saved $1,200 and received a matching $2,400 for a total of $3,600 to expand their businesses.
IDA is just one of many BICC programs to be highlighted Nov. 7 at the annual fundraising banquet at the DeVos Center at Lee University, said BICC founder Brenda Hughes. The theme for the 6:30 p.m. dinner is “Mending Lives — Restoring Families” with Dr. James Patrick Daugherty as keynote speaker, Hughes said.
Tickets for the dinner are $75 each and can be purchased through the BICC office at 423-559-1112 or emailing bhughes@4bicc.net. Information is on the website at www.bicc-inc.org.
“This is only an example of the many ways that BICC is making a positive impact in our community,” Hughes said. “However, these things would not be possible without the many individuals, churches, businesses and foundations that support this nonprofit organization.”
The SunTrust Foundation became an IDA partner in 2010 with a $5,000 grant to provide an extra dollar to the existing one-to-one matching ratio, said Angela Conner, representative of SunTrust Foundation.
Caywood, owner of Downtown Design Studio, plans to use his funds to buy computer software that will allow him to expand his services and bid on local, state and federal government contracts.
Hazy-Kelso, owner of the Hideaway Diner in Charleston, Tenn., plans to purchase new kitchen equipment that she says will cut her production costs in half.