November 21, 2017 — EforAll Lowell-Lawrence has been awarded $30,000 from the Massachusetts Growth Capital Corporation (MGCC). MGCC, which announced the grants, will help expand economic and entrepreneurial opportunity throughout the state by providing technical assistance or training programs for underserved and disadvantaged businesses, many in Gateway Cities.
Lianna Kushi, Executive Director of EforAll Lowell-Lawrence said, “Thanks to the Massachusetts Growth Capital Corp., we are able to provide much needed technical assistance to the entrepreneurs we serve. We always strive to promote economic empowerment, and this grant allow us to do just that.”
“These local investments have a real impact on job creation and economic activity across the Commonwealth,” said Larry Andrews, president of MGCC. “This year’s grants will provide funding for non-profits to support and strengthen inclusive small businesses by increasing business management skills.”
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 139 small businesses and/or nonprofit organizations. Of these graduates:
- a full 82% are still actively working on their ideas,
- 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, Lynn, Fall River, New Bedford, and Lynn.