Financial Sustainability for Women-Owned Businesses: YoCo Bloom & YoCo Strong Restart Fund

Last November, the YCEA announced the first ever YoCo Bloom: Start Up Edition, to award up to $2,500 to small businesses that have launched within the past 18 months and have not received funding from prior YoCo Bloom, Downtown Bloom, or COVID 19 funding programs.

Thirty-nine applications were received for this round of funding, with 32 eligible for funding based on the criteria. Our team narrowed that down to 14 to invite to a pitch competition. All finalists participated in a “How to Prepare Your Pitch” prep session with Ben Franklin Technology Partners, Susquehanna SCORE, and MANTEC. A total of $20,000 was awarded, with 50% of the awards granted to businesses owned by persons of color, and 75% of all of the businesses supported were women-owned businesses.

Here are three of their stories...

Izzy's Cupcakes - Iscarelys Espinal

Izzy’s Cupcakes, owned by Iscarelys Espinal and located in Downtown York, has a mission to bring the community together by offering a space and atmosphere in which you can enjoy sweets along with Prince St. Cafés yummy coffee/teas. With her Bloom Grant, Izzy was able to develop her own, unique website. To do so, she chose to work with the local York City media firm, DesignBots.

I would highly recommend the YCEA to any entrepreneurs, new business owners, etc. The YCEA goes above and beyond in order to support individuals that are working hard towards their dreams in York County! Through this website I will be able to cater to customers safely and individually through these troubled times. My other business goal is to be able to network with other professionals so I can expand and learn more business strategies. I also want to continue on rising my business and get my own store front.

The Shadow Box Frame Shop - Christine Frey

The Shadow Box Frame Shop, owned by Christine Frey and located in East York, offers custom picture framing and local, domestic and fair-trade gifts, with a focus on preservation and display of artwork, documents, and memorabilia. The Bloom Grant is helping provide a safety net for Christine as she navigates the recovery of the pandemic.

At some point, I’ll pay myself a livable wage and hire a helper. In the meantime, package pricing and budget options and online selling are my next goals.

When asked any advice for other businesses, she shares “Hang in there, the hard times and speed bumps are part of the journey. Ask for help, plan for the worst, enjoy the small victories and milestones!”

Monet's Comfort Foods - Stephanie Michelle Parker

Monet's Comfort Foods, owned by Stephanie Michelle Parker, is a true family-run business, providing affordable, homemade comfort food to the community, currently in Downtown York’s Central Market. She was able to use the funds to buy more supply at a discounted rate, and hire an additional person to help with the Saturday rush. Stephanie’s business is already outgrowing her current stand, and she will be moving into a new stand in the next few months.

Anyone starting a business should prepare for the hard times mentally and physically. It's so easy to quit when things get hard. Keep positive people in your life and always remember why you wanted to start your business. The hard times will come and go but the GOOD will always outweigh the bad. I would definitely recommend YCEA to other businesses. YCEA is very helpful to new and small businesses within York county.

"Thank you for your work on the YoCo Strong grant. The funds I received will help my business! I wouldn’t have applied if it weren’t for you.” - Alexandria Hammond, My Girlfriend’s Wardrobe

The Bloom Grant Program was created in 2018 by a class of summer interns to offer unique funding opportunities through this small business grant program. Grant rounds have been hosted for women-owned businesses, Downtown York specific businesses, graduates of the YCEA’s small business development program, and YCEA member businesses throughout York County. In its first year, the Downtown Bloom Grant awarded a total of $15,000 for qualified projects. To date, Bloom has awarded over $165,000 to 55 small businesses, of which over 50% were owned by persons of color, and over 65% were women owned or led.

ADDITIONAL SUPPORT

In 2020, in response to the COVID-19 pandemic, the YCEA, in partnership with Community First Fund, was designated by the York County Commissioners to administer the YoCo Strong Restart Fund. These funds were allocated by the CARES Act, with nearly $16.5 million awarded to small businesses and non-profits across York County. Of the 955 total recipients, 855 small businesses received $14,776,489.00 and 100 non-profits received $1,698,200.00. Of those, 44% of the recipients were women.

“Muchas gracias por tu ayuda.” (Thank you for your help) - Rosa Ayala, Azteca Grantley Road

“We really appreciate the grant your company has given to us. Thank you!” - Tanquasia Parker, Define Divine Beauty Salon