Initiative Foundation Loan Funds
> Business Financing Fact Sheet
Besides awarding grants to nonprofit organizations, the Initiative Foundation also creates economic opportunity by lending funds to locally owned businesses. This unique ability enables us to strengthen communities like few other foundations. We finance the risk of new ventures in order to create quality jobs and reinforce our local economy. Living wages and benefits offer families such advantages as home ownership and a greater connection to their community
When the foundation evaluates a potential business investment, our strongest consideration is given to community-focused entrepreneurs whose business plans include quality jobs, especially in the hometowns that need them most.
The Initiative Foundation offers the following business financing programs to meet diverse regional needs. We prioritize technology-based and green businesses as well as value-added manufacturing and agriculture operations. Nontraditional business owners such as women and minorities are especially encouraged to apply.
In 1997, the Initiative Foundation received designation from the U.S. Treasury as a Community Development Financial Institution (CDFI), a specialized financial institution that works in market niches that are underserved by traditional financial institutions.
In 2002, the Foundation was awarded a $1.1 million CDFI Fund Core Program Financial Assistance grant to capitalize the Technology Capital Fund. In 2010, the Foundation also received a $750,000 CDFI grant to support the Technology & Green Loan Funds.
The Foundation is also proud to be a member of the Opportunity Finance Network.