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Milestone Growth Fund Founder Esperanza Guerrero-Anderson Joins the Federal Reserve Bank of Minneapolis Advisory Council on Small Business and Labor MINNEAPOLIS, MN (April 27, 2004)—Esperanza Guerrero-Anderson, President and CEO of Milestone Growth Fund, the community-based venture capital fund created to facilitate and accelerate the formation of capital in ethnic minority businesses throughout Minnesota, accepted her invitation to serve on the Federal Reserve Bank of Minneapolis Advisory Council on Small Business and Labor. The Council held its first meeting on April 14, 2004. The Federal Reserve Bank of Minneapolis serves the Ninth Federal Reserve District, which includes Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin and the Upper Peninsula of Michigan. Guerrero-Anderson joins an impressive group of business leaders from all six district states including Jay F. Hoeschler, President of Hoeschler Realty Corporation; Karla Aaland, President of Cap Holdings of Fargo North, Dakota; Richard W. DenHerder, President of Print Promotions/Visitor Publishing in Rapid City, South Dakota; Steve Hunter, Secretary-Treasurer of the Minnesota AFL-CIO; Robert J. Jacquart, President of Jacquat Fabric Products, Inc. in Ironwood, Michigan; Dale R. Jensen, Senior Vice President of the First National Bank of Baldwin in Baldwin, Wisconsin; William P. (Casey) Jones, President of Jones Brothers Trucking in Missoula, Montana; George Kronschnabel, President of Great lakes Plastics Corporation in Hancock, Michigan; and Al Lukes, Vice President and COO of Dakota Gasification Co. in Bismarck, North Dakota. Council members advise the bank's senior officers and economists on regional economic conditions. New members are appointed by Minneapolis Fed President Gary H. Stern. Milestone Growth Fund is the only Minnesota venture capital fund is focused on providing equity-type financing to minority-owned companies. It fills a gap in funding ethnic minority businesses by providing financing that is either too risky for bank or too small for other venture capital firms. Since 1990, Milestone has helped 59 such companies with investments totaling more than $19 million. In addition to capital, the company provides management services such as consulting on building a board to strategic planning and access to information sources and experts. Licensed by the U.S. Small Business Administration, Milestone Growth Fund has clients that include such business success stories as Creative Kidstuff, iXmatch, Latino Communications Network, and SuperSolutions. For more information, please contact: |
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