Finding Funding
Where do you start to look for funding for your business?
- There are many options for financing your business! You can get funding through private investors, and financial institutions. In Colorado, most new businesses are financed by personal investments. While is not impossible, it is more difficult to fund a new business by obtaining outside financing through commercial backs, savings and loans institutions, leasing companies, insurance companies, and private or public stock offerings.
- The Colorado Business Resource book has more information about Financing options.
Consider Crowdfunding
- Crowdfunding is an option to obtain money for a start-up. Below are some crowdfunding options:
- Patreon- Fee: 5%. 5% fee is suggested to campaign donors. Processing fee of 2.9% + $0.30 applies.
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- GoFundMe- Fee: 5%. Processing fee of 2.9% + $0.30 applies.
- Kickstarter- Fee: 5%. Personal fundraising not allowed. Creative only. Processing fees of between 3-5% apply.
- Indiegogo- Fee: 5%. 3% processing fee.
- Give Forward- Fee: %% is charged to campaign creators. Processing fee of 2.9% + $0.50 per transaction applies.
Colorado Funding Resources
Below are various resources to get grant funding in the State of Colorado for your business.
Colorado Creative Industries' Colorado Creates- Grants for cultural organizations.
Colorado Department of Education Grants
Colorado Department of Education Grants
Colorado Department of Higher Education Grants
Colorado Department of Public Health Grants
Colorado Nonprofit Association- The Colorado Nonprofit Association educates and informs Colorado nonprofits about new ideas, best practices, and pressing public policies. They are located in Denver, host trainings and workshops on a variety of nonprofit topics for a fee. Members can have access to their nonprofit help desk and pro bono legal advice. Their website also provides sample policies and forms
Great Outdoors Colorado- Grants for outdoor initiatives.
History Colorado- The Office of Archaeology and Historic Preservation (OAHP) administers the U.S. Department of Interior's Historic Preservation Fund Program in cooperation with the U.S. Department of the Interior, National Park Service (NPS).
Community Development Block Grants (CDBG)-The Division of Local Government (DLG) oversees Public Facilities. Eligible uses of funds include acquisition, design/engineering, construction, reconstruction, rehabilitation or installation of public improvements or public facilities.Colorado uses Community Development Block Grant (CDBG) Funds to provide funding and aid to the state's Business Loan Funds. Business owners can apply for assistance directly through the Business Loan Fund in their region through the Colorado Office of Economic Development & International Trade.
Community Resource Center- Community Resource Center creates opportunities, tools and strategies to develop nonprofits and community groups to strengthen Colorado. They host the Colorado Grants Guide, offers workshops on a variety of nonprofit topics across the State of Colorado. They publish a Starting a Nonprofit workbook
Colorado Grants Guide This link opens in a new window
Colorado Grants Guide is the premier grant research database for development professionals supporting Colorado nonprofits.
Colorado Enterprise Fund- At Colorado Enterprise Fund, we believe that every small business dream should have a chance at becoming a reality.
That's why we started as a nonprofit in 1976: to expand access to capital and offer flexible terms to business owners when traditional lenders couldn't.
Today, we're proud to help accelerate Colorado's vibrant and innovative small business community, fuel our economy, and work with inspiring entrepreneurs like you.-
Office of Economic Development - Colorado-Programs and Funding
Colorado Office of Economic Development and International Trade- The Colorado Office of Economic Development and International Trade (OEDIT) works with statewide partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. Under the leadership of Governor John Hickenlooper, we strive to advance the state’s economy through financial and technical assistance in support of local and regional economic development activities throughout Colorado.
Minority Business Office - OEDIT- As a division at OEDIT, the MBO is strategically placed to leverage relationships with other teams within OEDIT that span every type of business and every type of business owner in every industry imaginable.
Rocky Mountain Microfinance Institute- Today, we’re excited to announce that business grants are now available to all new RMMFI entrepreneurs as part of our core capital offerings. With our newest capital product, Launch Grants, entrepreneurs completing Business Launch Boot Camp will receive a $2,000 grant to support their business startup and operation. Boot Camp graduates will continue to have access to Launch Loans, as well, to provide additional support as their businesses become operational.
Along with our Launch Grants, we are also introducing new loan limits in recognition of inflation and increases in the cost of living and doing business in Colorado over the past ten years. We are increasing the limit on our Launch Loans from $2,500 to $3,500 and on our Thrive Loans from $5,000 to $7,000. Our Growth Loans will now start at $7,001 and will continue to have an upward limit of $75,000.
National Resources for Funding
Below are some national resources to find funding for your business.
National Council of Nonprofits
The National Council of Nonprofits (Council of Nonprofits) is a trusted resource and advocate for America’s charitable nonprofits. They identify emerging trends, share proven practices, and promote solutions that benefit charitable nonprofits and the communities they serve. There is a fee for membership. They provide Tools and Resources on a variety of nonprofit topics, from starting a nonprofit to ethics that can be read for free. They offer a blog that does not require membership.
Is a nonprofit leadership association of grantmaking foundations and corporations. It provides the opportunity, leadership, and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good.
Association of Fundraising Professionals
The Association of Fundraising Professionals (AFP) represents more than 30,000 members in over 230 chapters throughout the world, working to advance philanthropy through advocacy, research, education and certification programs. The association fosters development and growth of fundraising professionals and promotes high ethical standards in the fundraising profession.
Foundation Center and GuideStar have come together as one organization in order to help change the world by giving people the information they needed to do good.
Foundation Information Network Partners provides a suite of tools and resources consisting of Foundation Directory Online databases, publications, and a variety of supplementary materials and services in areas useful to grantseekers.Candid Learning is the educational arm of Candid (formally known as the Foundation Center). It provides document examples on a variety of nonprofit forms, such as budgets and letter of intent. It offers both free and fee-based webinars. Should be a go-to for anyone starting out in the nonprofit world.
Introduction to Finding Grants by Candid.Learning
A free webinar on the ten most important things to know about finding grants. Geared towards those new to grant funding.
Introduction to Proposal Writing by Candid.Learning
Offers a free webinar or a self-paced eLearning training to introduce beginners to basic grant writing concepts and formats.
This short video will help demystify the process of securing government grants.
Is a free and fresh grant-finding resource, dedicated to helping educators and institutions identify the funding they need in budget-tight times. GetEdFunding hosts a collection of thousands of grants and opportunities culled from federal, state, regional, and community sources and is available to public and private preK–12 schools, districts, and educators; higher education institutions; and nonprofit organizations that work with them.
Association of Fundraising Professionals
The Association of Fundraising Professionals (AFP) represents more than 30,000 members in over 230 chapters throughout the world, working to advance philanthropy through advocacy, research, education and certification programs. The association fosters development and growth of fundraising professionals and promotes high ethical standards in the fundraising profession.
BoardSource is the premier location for any nonprofit management and board training needs. There is fee to join; it does offer workshops and trainings, with member discounts. In their learning center, they offer community resources that can be downloaded for free, regardless of membership. Topics include board basics, performance, etc. You can also subscribe to their e-newsletter for free.
GuideStar provides information on nonprofits in the United States. The free search will usually provide you with enough basic information on a nonprofit. To find nonprofits in the area, select Advance Search and input the city and state you wish to search. The full version of Guidestar is available in Penrose Library through 2023.
Is a nonprofit leadership association of grantmaking foundations and corporations. It provides the opportunity, leadership, and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good.
Books
Below are some books about funding your business that are available now in out PCCLD catalog. Click this LINK to see the Doris Kester Nonprofit Resource Collection information.
Dollars and Sense by Dan Ariely; Jeff Kreisler
ISBN: 9780062651204
Publication Date: 2017-11-07
New York Times bestselling author, Dan Ariely, teams up with financial comedian and writer Jeff Kreisler, to delve into the truly irrational world of personal finance, blending humor and behavioral economics to help people understand the psychology behind their financial decisions and show them how they can make better ones. He entertains critical questions such as these: Why is paying for things painful? Why are we comfortable overpaying for something in the present just because we've overpaid for it in the past? Why is it easy to pay $4 for a soda on vacation, when we wouldn't spend more than $1 on that same soda at our local grocery store? We think of money as numbers, values, and amounts, but when it comes down to it, when we actually use our money, we engage our hearts more than our heads.
The Crowdsourceress by Alex Daly
ISBN: 9781610397605
Publication Date: 2017-03-28
In recent years, the crowdfunding industry has generated several billions in funding. But the harsh reality is that around 60 percent of Kickstarter campaigns fail. Enter Alex Daly, a crowdfunding expert who has raised over $20 million for her clients' campaigns. In this book, Daly takes readers deep inside her most successful campaigns, showing you how to Get fans and influencers excited about your launch Build an appealing and powerfully designed campaign Access proven video tips, pitching tactics, press releases, and rewards ideas Avoid the most common headaches and pitfalls
The Budget-Building Book for Nonprofits by Murray Dropkin; Jim Halpin; Bill La Touche
ISBN: 9780787996031
Publication Date: 2007-11-02
This best-selling nuts-and-bolts workbook, now in its second edition, has become the gold standard for nonprofit managers and boards who must work through the budget cycle. The book offers practical tools and guidance for completing each step of the budgeting process. Designed to be comprehensive and easy to use, The Budget-Building Book for Nonprofits provides everything budgeters and nonfinancial managers need to prepare, approve, and implement their own budgets. Includes new chapters on Zero-Based and Capital Budgeting as well as an accompanying website with spreadsheets, worksheets and a new budget-building software, the CMS Nonprofit Budget Builder, designed to help you implement the concepts in the book. The software includes an expandable standard chart of accounts (COA) and will aid in building, organizing, tracking and planning budgets.
ISBN: 9780470911389
Publication Date: 2011-05-23
The Revolution in Local Investing and How to Profit from It, Amy Cortese takes us inside the local investing movement, where solutions to some of the nation's most pressing problems are taking shape. The idea is that, by investing in local businesses, rather than faceless conglomerates, investors can earn profits while building healthy, self-reliant communities. Introduces you to the ideas and pioneers behind the local investing movement Profiles the people and communities who are putting their money to work in their own backyards and taking control of their destinies Explores innovative investment strategies, from community capital and crowdfunding to local stock exchanges. Local investing offers a way to rebuild our nest eggs, communities, and, just perhaps, our country.
Successful Proposal Strategies for Small Business by Robert S. Frey
ISBN: 9781580533324
Publication Date: 2002-04-01
Now, in its 3rd edition, this popular book helps more than ever to ensure that small and medium sized business operators win those prized government and private sector contracts. The book, and its companion CD-ROM, provide the management team with focused, practical assistance in achieving effective, efficient, and disciplined business development, proposal development, and knowledge management (KM) processes.
Effective Fundraising for Nonprofits by Ilona M. Bray
ISBN: 9781413319231
Publication Date: 2013-08-30
Getting tax-exempt status for your nonprofit organization is just the first step toward succeeding in your mission -- ultimately, your nonprofit's effectiveness depends entirely on your ability to raise money. Effective Fundraising for Nonprofits will show you how.
Entrepreneurship for the Rest of Us by Paul B. Brown
ISBN: 9781629560557
Publication Date: 2016-12-19
Today when the competition, technology, and the economy are evolving faster than ever before, organizations and the people like us who work in them need a proven approach to help us adapt--and succeed. The key, according to Paul B. Brown, is to think like an entrepreneur, no matter what your position or industry. Based on extensive research, Entrepreneurship for the Rest of Us reveals the best practices of the most successful entrepreneurs, those who are adept at continually innovating and seeing opportunity where others do not.
Other Resources for Funding
Small Business Administration- The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.
Accion Opportunity Fund- We are committed to supporting small business owners who are often shut out from financing. We're helping their businesses thrive.
DreamSpring- Funding business dreams, vitalizing communities. DreamSpring is an award-winning nonprofit organization that increases access to credit, makes loans, and provides a community of support to help entrepreneurs realize their dreams.
Grants.gov- The Grants.gov program management office was established, in 2002, as a part of the President's Management Agenda. Managed by the Department of Health and Human Services, Grants.gov is an E-Government initiative operating under the governance of the Office of Management and Budget.
Under the President's Management Agenda, the office was chartered to deliver a system that provides a centralized location for grant seekers to find and apply for federal funding opportunities.
GovLoans.gov-GovLoans.gov is an online resource to help you find government loans you may be eligible for.
It is not an application for benefits and will not send you free money.