Opportunity Fund is now accepting applications for its 2014 Start-Up Funding Challenge!
For a third year in a row, Opportunity Fund has allocated funding to help new businesses get off of the ground. Since Opportunity Fund’s standard loan program is designed for relatively established businesses that have been operating for at least one year, the Start-Up Funding Challenge is a great opportunity to help entrepreneurs who are either launching a business or who have less than one year of sales so they can get funding at a time when it is needed most.
$750,000 in funding is available - the largest to date - and will be disbursed to Start-Up Funding Challenge winners, who will be selected based on criteria like business sustainability as well as the financial stability and industry knowledge of the owner(s). Applicants are highly encouraged to apply for Early Entry (deadline: February 28, 2014) in order to guarantee available funds. The final Start-Up Funding Challenge deadline is March 31, 2014. More information can be found here.
Last year’s Challenge awarded 17 finalists with businesses ranging from a martial arts studio to a child-care center. Check out what the owner of Himalayan Beanz in Rhonert Park had to say about his experience as a Start-Up Funding Challenge winner:
We have already received some great applications and we look forward to seeing what exciting new businesses this year’s Start-Up Funding Challenge winners will bring to our community!