EforAll Receives Cummings Foundation $100K for 100 Award
FOR IMMEDIATE RELEASE: EforAll Receives Cummings Foundation $100K for 100 Award
Award will help create 90 more small businesses over the next 3 years.
Entrepreneurship for All (EforAll) has been awarded the $100K for 100 grant from the Woburn-based Cummings Foundation. EforAll will be using the $100,000 grant over the next three years to graduate a total of 90 entrepreneurs from the Lowell-Lawrence business accelerator.
Lianna Kushi, Executive Director of EforAll Lowell-Lawrence said, “Thanks to the Cummings Foundation, we’re able to continue to create sustained economic impact and job growth by fueling the dreams of entrepreneurs in the Lowell-Lawrence area for the next three years.”
EforAll creates economic opportunity and social mobility through inclusive entrepreneurship. The organization is driven by the belief that the best way to create a sustainable and equitable economic future is by empowering entrepreneurs of all socioeconomic backgrounds, regardless of their geographic location. Since 2013, the EforAll Lowell-Lawrence site has helped graduates launch 128 small businesses and/or non-profit organizations. Of these graduates:
- a full 82% are still in business,
- they have created 271 full/part time jobs,
- raised $7.0 million in capital,
- generated $5.2 million in annual revenues in the past year
- and produced $3.2 million in total payroll in the past year.
These statistics speak to the strong, grassroots foundation of entrepreneurship that EforAll is building in the Merrimack Valley and beyond.
The organization currently operates in Lowell, Lawrence, Fall River, New Bedford, and Lynn.