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.
More breaking news...
Front Range Internet tripling size of its data center
Solera National Bancorp is the holding company for Solera National Bank, which has a mortgage origination
Firestone approves capital improvement plan
The company, founded in 1995 by Bill Ward and his son, Brad, has added an additional 3,000 square
The plan outlines projects proposed for completion by 2020, including several in
Drilling casts shadow on home mortgages
Fort Collins names new deputy city manager
Groundbreaking, demolition at Foothills
Robot helping simulate Mars mapping