My two previous blog postings have been directed at tips for writing your business plan. So now that the business plan is complete the next step is finding finances. When looking for funding for my business chose to look for specific funding for green businesses. In my search I found a good number of investors looking to fund new small businesses providing products or services to promote going green. The Initiative Foundation provides Green Business Loans that I found to be very good and if my business were based out of Minnesota I would qualify for. Whether in Minnesota or another state Foundations and Investors like this one have qualifications, and for green business loans the qualifications can be even more specific.
The Green Business Loans from the Initiative Foundation ranges from $50,000 to $250,000. Some qualifications that give business eligibility are ventures that incorporate environmental responsibility in business operations, ventures that reduce current energy demands, and ventures that deliver a product or service associated with environmental preservation, conservation, protection, and mitigation or clean up. My business would be eligible because we offer services associated with environmental conservation and protection.
Another stipulation for investors is how the money is used. For the Green Business Loans the funds can be used for fixed assets, equipment, and product development. For someone seeking an investor it is important to pay attention to what the funds can be used for, along with the initial eligibility qualifications. As a stated earlier my business would not qualify because I am not located in Minnesota, but I chose to discuss this source of funding because it shows how investors are trying to help small business within their community. So now knowing about this foundation I can look for investors in San Diego that provide green business loans specifically for small businesses in San Diego. I am not an expert but I would suggest to anyone looking for investor funding to search for investors looking to fund specific small businesses or with multiple specific loan programs.
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