News Release -- Vermont State Employees Credit Union
July 27, 2017
Milk Money, Powered by VSECU Helps Burlington Herb Clinic Reach $20,000 Investment Goal
More than 90 Vermonters have invested $200,000 to support local businesses
CHARLOTTE, VT July 27, 2017 –
Milk Money, an equity-based crowd-investing company that connects Vermont entrepreneurs and small businesses with local investors, is excited to announce that one of its small business campaigns—the Burlington Herb Clinic—has reached its campaign investment goal of $20,000 and is fully funded to move forward with the next stage in its development. A group of herbalists founded the clinic as a worker-owned co-op to support clients using herbal medicine for self-care.
Janice Shade and Louisa Schibli launched Milk Money in July, 2015 after Vermont Small Business Offering (VSBO) regulatory changes made it possible for non-accredited Vermonters to invest locally in start-up and growing businesses through organizations like Milk Money. Burlington Herb Clinic launched a Milk Money campaign to raise capital for clinic space, furniture, IT equipment, appliances, and legal expenses.
“This is such a critical milestone for Burlington Herb Clinic and for Milk Money, as we continue to raise awareness of the organization and opportunities for business and potential investors to get involved and make a positive impact on the economy of our state,” said Louisa. “We are so proud of the work Burlington Herb Clinic has done to raise this needed capital and be an example to others of how Milk Money can support Vermont entrepreneurs.”
Currently, Milk Money has four active campaigns seeking to raise between $100,000 and $500,000 in capital to support their growth. Campaigns include Green Mountain Organic Creamery, Vermont Evaporator Company, Working Fields, and Kingdom Fiber. To date, more than 90 Vermonters have invested over $200,000 in Milk Money campaigns.
“We’re honored to be the first business to reach our campaign fundraising goal and we are eternally grateful to the investors who took the time to get to know our company and support our growth,” said Katherine Elmer from Burlington Herb Clinic at Railyard Healing Center. “We are appreciative of the work that Milk Money, VSECU, and others have done to establish Milk Money and provide this option for businesses like ours to grow and thrive in Vermont with support from our neighbors.”
VSECU, the state’s only credit union for all Vermonters, was an early partner with Milk Money, providing operational support and ongoing assistance. VSECU’s mission is to bring people together to empower possibilities for greater financial, environmental, and social prosperity.
“When we provide opportunities for Vermonters to come together in a cooperative spirit to support local business and invigorate our economy, great things happen for all of us. Today’s announcement is testimony to the success that small businesses can realize when the community invests in them,” said Rob Miller, President and CEO of VSECU. “Milk Money has come a long way in a short amount of time and I’m confident we’ll see more campaigns join and even more Vermont investors in the future.”
To learn more about how to invest or to become a Milk Money entrepreneur, visit www.milkmoneyvt.com.