The Community Foundation of Northern Colorado contributed $500,000 to the Larimer County Small Business Recovery Loan Fund earlier this week.
By contributing to the business recovery fund, the Community Foundation is supporting loans to for-profit businesses for the first time, which helps sustain our local economy. It is embracing the impact investment model that has proven successful for other foundations, including the Rockefeller Foundation that coined this term in the mid-2000s. Impact investing refers to an investment strategy that not only generates financial returns but also creates constructive outcomes linked to the mission of the Foundation.
“We are shifting dollars from traditional investments, primarily stocks and bonds, so that we can invest in Larimer County’s small businesses,” said Ray Caraway, Community Foundation president. “We are using a portion of the Foundation’s investment portfolio in a creative, resourceful manner to positively impact the community.”
“Small businesses play a vital role in our nonprofit community, and this loan program targets a sector that is seriously impacted by the pandemic,” said Tom Behr, a member of the Foundation’s Nonprofit Loan Committee. “We appreciate the leadership and structural support of the Bohemian Foundation as well as the opportunity to partner with others in Northern Colorado to support this program.”
Information about the program and details about how to apply are available at NoCoRecovers.com.