PRESS RELEASE
Canby boutique has new owner, updated name
Local entrepreneur benefits from Southwest Initiative Foundation loan program
CANBY, Minn. – Lori Varcoe has opened The Gift II in Canby with help from Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program. A longtime employee of the original boutique, The Gift, Varcoe purchased the business and updated its name.
“This business is an asset to Canby and the surrounding community. I am excited at the opportunity to own and grow this business and continue to provide this shopping experience,” said Varcoe, whose career experience includes direct sales, in-home child care and managing The Gift.
The Gift II offers clothing, décor, gifts, permanent jewelry and furniture. Varcoe also provides consignment opportunities for local artists and fellow small business owners.
Loan funds from SWIF helped Varcoe purchase furnishings, fixtures and inventory and provided working capital for other expenses. Microloan clients also receive free technical assistance to improve their business management skills. Areas of support include business planning and financials analysis, accounting software training, marketing assistance and other training opportunities for the life of the loan.
Loan programs have been a key function of SWIF since its inception to support communities and businesses throughout southwest Minnesota. In 2001, microlending was added to existing programs as a tool to support small businesses and entrepreneurs.
“Lori has a strong vision for the future of this store in the community, and we’re proud to be able to support her,” said Selina Berning, SWIF Entrepreneurship Finance Officer.
This microloan program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture. For more information, contact SWIF at 800-594-9480, 320-587-4848 or [email protected].
About Southwest Initiative Foundation
Southwest Initiative Foundation (SWIF) is a nonprofit community foundation connecting people, investing in ideas and building communities to create a southwest Minnesota where all people thrive. Since its founding in 1986, SWIF has distributed more than $120 million through its grantmaking and business finance programs.
