Nonprofit organizations looking for low-interest micro loans will be interested in the Community Foundation’s LAUNCH Fund, which currently has $30,000 available.
LAUNCH (Loan Assistance Unpacking Nonprofit Challenges) is a revolving loan fund, which means that as loans are repaid, the dollars are recirculated to fund additional nonprofit loan requests.
The LAUNCH fund is an impact investing fund designed to provide access to capital with loans ($5,000 to $50,0000) at a below-market interest rate and favorable terms. Nonprofits across Southwest Colorado are eligible to apply.
The Community Foundation has partnered with First Southwest Bank, leveraging the bank’s CDFI (Community Development Financial Institution) designation, to provide access to terms that appeal to nonprofit boards and staff.
“We are thrilled to partner with the Community Foundation serving Southwest Colorado to offer this resource to our local nonprofits,” said Cass Walker Harvey, Executive Director of First Southwest Community Fund. “We hope that by offering this innovative model for access to capital, we will help nonprofits expand their impact in our community.”
The LAUNCH fund is made possible by donations from local philanthropists who like to see their donations reinvested in the community multiple times. If you are interested in securing an affordable loan from the LAUNCH fund, please contact Briggen Wrinkle at firstname.lastname@example.org.