Creating a successful business requires capital. For any startup that can be difficult, and for low and moderate-income businesses securing funding can prove even more challenging. The purpose of the Greater Good Fund is to provide capital to economically challenged, Colorado based entrepreneurs who require funds in order to scale up their triple bottom line business venture.

Incorporated Colorado businesses who have been in operation for at least six months will be eligible. These businesses must have an established business plan, which embraces a double or triple bottom line. Eligible entrepreneurs must be unable to secure funding from conventional banking sources due to credit scores, limited collateral or other traditional metrics required by traditional financial institutions.

Eligible borrowers from limited income backgrounds include, but are not restricted to; veterans, young people, elderly, minorities, women, businesses in designated ‘distressed’ economic zones and/or disabled are encouraged to apply. Applicants must be U.S. citizens.

Preference will be given to companies who have already or are in the process of adopting a triple bottom line business strategy. Additional qualifying factors include, the extent to which the business can measure the economic and community impact of its product or service, as well as its commitment to hire low-income or other hard to hire people. (A common analytical metrics tool will be developed to assess impact).

Loan Focus:

There is no mandated sectoral focus for financing from the Greater Good Fund. Expectations are that financing will be provided to businesses active in offering goods and services in such areas as: Health Care, Energy Efficiency, Organic Foods, Green Buildings, Information Technology and other activities.

Fund Management:

The Colorado Enterprise Fund (CEF), a Community Development Financial Institution (CDFI), will manage the new pool of funds, creating a separate fund account, called The Greater Good Fund. CEF was founded in 1976 and currently manages $9.5 million in loan capital to economically disadvantaged businesses statewide.

Loan Amount:

Loans in the $15,000 to $50,000 range will be made to qualified businesses. Companies will be eligible to secure subsequent multiple loans from the Fund, providing they satisfy repayment schedule terms. All efforts will be made to minimize risk

Lending Rates and Terms:

The interest rate will depend on the need and level of risk to be assumed. The goal will be to provide loans at reasonable market rates. More established companies could secure a lower interest rate. Repayment terms will be tailored to the cash flow needs of the applicants.