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Eastern States

Can you offer jobs in economically poor areas? This fund's looking for you.

This story appears in the September 1999 issue of Entrepreneur. Subscribe »

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.

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