ShadeFund is an Internet-based program designed to connect green entrepreneurs with capital from individual and corporate donors. The start-up investment came from the Endowment and the initiative is managed by The Conservation Fund.
Small Business is the Focus
ShadeFund was recently recognized in the U.S. Green Chamber of Commerce (USGC)'s August 31st e-newsletter as well as in a longer story on the USGC website. The article, "Searching for Green Capital?,” focused on the importance of financial contributions from governmental and private sectors for small start-up and entrepreneurial companies, particularly green businesses. Between 1993 and 2009, small businesses created 65 percent (or 9.8 million) of the 15 million net new jobs. A recent report from The Brookings Institute recognized that “currently the U.S. green economy employs 2.7 million workers across a multitude of industries.”
USGC Puts Spotlight on ShadeFund
With the current state of the economy, grants created through the stimulus package have disappeared. As a result, many businesses have approached the USGC for help in finding funding sources. ShadeFund is seen as a beacon of light and hope that there is still money accessible to green entrepreneurs (foresters, farmers, eco-tourist businesses, food and medicine naturalists, and small-scale renewable energy producers).
“The ShadeFund was designed to help green innovators get the funding they need to move their business forward when their personal resources run out, or when banks fail to support their small business ideas,” -- Rick Larson, The Conservation Fund.
Loans of $5,000-$50,000
The ShadeFund lends $5,000 - $50,000 to green entrepreneurs across America so they can expand their business and create jobs. “ShadeFund grew out of the need to invigorate the growing U.S. green economy,” said Larson. “The future of American business will be green, but only if our entrepreneurs can get the “green” (capital) they need to grow.”
Be a ShadeFund Supporter!
If you’d like to be a ShadeFund supporter and help a green entrepreneur build the economy of the future, visit http://www.shadefund.org/ and make a donation.
Michelle McGee
Endowment 2011 Intern
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