The Community Economic Development Fund (CEDF) recently celebrated its diverse collaborators at its annual awards dinner at Oak Lane Country Club. The event included a wide variety of constituents, including its many traditional investors who provide capital investment at a nontraditional table, its community partners and relationships, and the clients it has the honor to serve. This diversity of collaborators made for a dynamic evening and provided the foundation for the organization’s effectiveness in helping to grow Connecticut’s communities.

CEDF is a statewide resource that provides support on small business lending, community development and business support. It serves the largest segment of Connecticut’s economy, the small businesses and microenterprises that comprise 72% of all businesses in the State, and promote job growth and tax revenues.

Awards were presented for community impact, entrepreneurial spirit, community leadership and outstanding partnerships. Among the award recipients were two businesses, Genell Rose, Inc. and Apados, LLC; two community projects, Thread City Development/Willimantic Arts Council and Greater Dwight Development Corporation. A number of dignitaries were also acknowledged for their contribution towards building the state’s local economies. These include, Jim Cronin, President of Dime Bank, Banking Commissioner John Burke, Gary King, President of CHFA, DECD Commissioner Jim Abromaitis, and State Representative Claire Janowski.

Last year’s keynote speaker, Ron Shaw, President and CEO of Pilot Pen Corporation of America, returned to introduce this year’s speaker, John Bello, founder and former CEO of South Beach Beverage Company (SoBe). Bello, who is currently CEO of Firefighter Brands, a business he founded in 2003 that donates a substantial share of its profits to his foundation for the support of worthy causes and activities of firefighters, spoke of strategies for launching a business and its effective marketing. Having been nationally recognized for his entrepreneurship, positive impact and contributions in job creation, Bello inspired the audience with his presentation that included video clips from his involvement with SoBe and Soup Kitchen International, a recently formed company that markets the soups made by Al Yeganeh, the New York soup chef that was featured in the famous Seinfeld “Soup Nazi” episode.

At last year’s event, a scholarship fund in the amount of $25,000 was established in appreciation of the keynote address by Ron Shaw. Shaw generously expanded that scholarship program with a $10,000 donation this year. In keeping with tradition, a scholarship of $25,000 was also established in John Bello’s honor and he was presented with a plaque of recognition.

The purpose of these scholarships is to provide a training opportunity and offer new resources to low income owned and high risk small businesses through participation in CEDF’s training program. The short workshop model has recently been launched to offer a new level of nontraditional business training on how to manage a small business. Through this program and the scholarships now available, small businesses will have a tool available to maximize their potential for healthy growth and success.

Since its creation in 1994, CEDF, has provided millions of dollars in loans to small businesses, created and retained thousands of jobs for the state’s residents, and funded innovative community planning efforts. Joining forces with the state, leading lenders, and community representatives, CEDF is bringing resources to Connecticut’s small businesses and neighborhoods.

Sponsors of the recent event include The Connecticut Housing Finance Authority (CHFA), Wachovia, NewAlliance and Citizen’s Bank, and The State Department of Economic and Community Development.

Pictured above:

Ron Shaw, President and CEO of Pilot Pen Corporation of America, with John Bello, founder and former CEO of South Beach Beverage Company (SoBe).