Chapter closing for Staunton Creative Community Fund first loan client

stn creative comm fundCharlie Cubbage became the newly formed Staunton Creative Community Fund’s first loan client in June of 2008. He was looking to expand Charlie’s Tool Repair which had grown slowly over the years even before becoming a stand-alone business in 1994.

Cubbage discovered the need for small tool repair while working at Staunton Electric when customers complained they couldn’t find anyone locally to repair their power tools. What started out as a few repairs here and there, grew into a self-sustaining business supporting the Cubbage family and employees.

When asked why he opened his repair business, Cubbage replies, “to meet the needs of others. He continues, “It doesn’t matter how slow or how well the economy is doing, everyone needs tools to work, to do their jobs, so they can continue to operate.”  His company fixed anything from lawn mowers and kitchen mixers to tools used during construction, and he even worked with retail stores and government agencies when they needed their tools fixed. If it was broken, Charlie and his team fixed it.

At the end of August, Cubbage will close his shop in Staunton and devote his time to the family that has supported him throughout his years in business. With that end in sight, he recently paid a visit to the SCCF to pay-off that inaugural loan telling Courtney Cranor, director of business development, “I know everyone says this, but I wanted to say how much I’ve appreciated [the Staunton Creative Community Fund’s] trust and direction.” He continues, “It’s been a pleasure.”

“Charlie’s Tool Repair is exactly the kind of business that we exist to fund and assist,” says Cranor. “It encompassed key criteria important to the Staunton Creative Community Fund as an economically viable, socially equitable, and environmentally sound business.”

Founded in 2008 as a microlender for businesses, SCCF has grown into a nonprofit incubator, a hub for entrepreneurial networking and inspiration, and a provider of training and consulting services, in addition to spearheading other local community investment initiatives such as the hOUR Economy and the Local Investing Project.

The SCCF supports clients in the cities of Staunton, Waynesboro, Harrisonburg, Lexington, and Buena Vista as well as well as the counties of Augusta, Rockingham, Albemarle, Nelson, Rockbridge, Bath, and Highland.

 

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