Eastern States
Can you offer jobs in economically poor areas? This fund's looking for you.
Companies in the recycling, remanufacturing and environmental
industries that create jobs in rural and urban economically
distressed areas can apply for financing of $50,000 to $1 million
from the Sustainable Jobs Fund (SJF). Targeting firms in the
Eastern United States, this fund offers seed, expansion and growth
capital to entrepreneurs who will create quality jobs in areas that
haven't benefited from the nation's economic boom.
According to co-founder and managing director David Kirkpatrick,
the investment provided is "patient" capital that can be
either subordinated debt, royalty debt or straight equity, and no
repayments are required during the first year. Typically, repayment
is done over five to six years, with an interest rate in the low 20
percent range.
To be eligible, companies should have strong growth potential
and well-thought-out business plans. Ideally, fund managers would
like the firm to be considering opening additional branches, but
that isn't a requirement. For information about SJF, call (919)
933-6059.
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