Nonprofit organizations looking for new revenue streams will be interested in the Community Foundation’s new LAUNCH Fund.
LAUNCH (Loan Assistance Unpacking Nonprofit Challenges) is a revolving loan fund, meaning that as loans are repaid, the dollars will be recirculated to fund additional nonprofit loan requests.
The LAUNCH fund is an impact investing fund designed to provide access to capital for nonprofit organizations through micro loans. Loans are in the range of $5,000-50,0000 with a below-market interest rate and favorable terms. Nonprofits across SW CO (La Plata, Archuleta, San Juan, Montezuma and Dolores) are eligible to apply. A LAUNCH loan can be blended with a traditional loan. Loans are designed for nonprofits to purchase equipment or real estate or remodel existing space to better serve the community.
“Essentially, the LAUNCH fund offers affordable financing options to nonprofits,” says Briggen Wrinkle, Executive Director of The Community Foundation serving Southwest Colorado. “And then for philanthropists, it provides a new avenue to donate money to the nonprofit sector that will continue to be reinvested in the community over the long haul.”
LAUNCH assists nonprofits in accommodating growth and keeping fiscal health a priority. 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 new resource to our local nonprofits,” said Cass Walker Harvey, Executive Director of First Southwest Community Fund. “We hope that offering this innovative model for access to capital, we will help nonprofits expand their impact in our community.
The LAUNCH fund was made possible by donations from local philanthropists who are excited to see their donation be reinvested in the community over and over. If you are interested in contributing to the LAUNCH fund, or you are a nonprofit leader interested in securing an affordable loan from LAUNCH fund, please contact Briggen Wrinkle [email protected].