Home State Bank, Colorado Enterprise Fund to help finance Innosphere companies
The Innosphere will refer qualified startup companies to its early-stage loan pool to fill their purchase orders or to build inventory.
Home State Bank made a low-interest loan of $250,000 from its Community Reinvestment Act program to the Colorado Enterprise Fund, which will administrate the fund. Colorado Enterprise Fund also will set aside as much as $250,000 in additional funding for the loan pool.
Innosphere companies already have begun to receive loans from the fund.
"As an entrepreneur, having access to this kind of capital is a big help because it solves our supply-chain issue," said Gordon Coombes, CEO and founder of Canvasback Enterprises LLC.
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