Loren Records

Excerpt from the May 29, 1965 issue of the Bennington Banner— "MONTPELIER— A 23 year-old St. Johnsbury man, Loren Phelps, has been designated 'Vermont's Small Businessman of the Year,' It was announced by William P. Geary, regional director of the Small Business Administration. The award is made annually to a small businessman of the state on the basis of his record of business success and management ability. The award certificate was presented in St. Johnsbury on May 27. Phelps began by selling musical instruments as a student in 1960. From this he established the 'Music Shop' which is Vermont's largest record shop. Wholesale record distribution Is handled by a subsidiary, the 'St. Johnsbury Record Distributing Company.' Additionally, Phelps has another company, 'Loren Records,' which makes records and holds rights to the popular Francis Colburn recordings. In January, 1964, Phelps opened the Phelps Garage in St. Johnsbury managed by his father, Bob Phelps. Soon afterwards he added the Phelps Rent-a-Car Company. In April, of this year the Damon Todd Maple Candles Company was founded and became his sixth successful business enterprise. Loren Phelps says that he already has plans for a dairy farm and a printing shop as his next ventures. He gives full authority and responsibility to his managers and a share of the profits as incentive. He gives credit to the Small Business Administration of the U.S. government for loan assist."