Mission
Elmseed’s mission is to facilitate the creation of successful small businesses in New Haven. By providing access to small, low-interest loans and technical assistance, Elmseed seeks to open the capital markets to motivated entrepreneurs who lack the capital or resources to start or expand small businesses.
History
Elmseed was founded in April 2001 with a $20,000 prize from the Yale Entrepreneurial Society (YES) contest in social entrepreneurship. Since winning this initial grant, Elmseed has received funding from federal grants, Citizen’s Bank, the National Philanthropic Trust, several small foundations, and individual donations.
Elmseed disbursed its first loan in November 2001. To date, Elmseed has disbursed more than thirty loans totaling over $70,000 to entrepreneurs looking to start or expand small businesses in the New Haven area. Current and past Elmseed businesses include daycare services, construction and contracting, salon services, food cart services, retail stores, and event planning.
Learn more about our clients here.
For more information, we invite you to read our 2011 prospectus.