New Fund from Village Launch Provides Capital to Startups

Greenville just added another arrow to its entrepreneur resource quiver, and this one is big.

Village Launch announced its new catalytic fund to provide $25,000 to $75,000 in loans to graduates of its program. The Village Launch Catalytic Fund, in partnership with Abundance Capital, will provide approved entrepreneurs with flexible capital and benefits not available through traditional lending.

“This is amazing,” said Jeanette Brewster, program director of Village Launch. “This fund, to me, just means more possibilities.”

The fund was announced at a special event Tuesday at the offices of Mill Village Ministries, the umbrella organization for Village Launch.  Abundance Capital is a non-profit, “venture philanthropy” organization that helps charitable donors make impactful investments in their communities. Benefits of the fund include a 5% fixed interest rate, and a standard six-month deferred payment with the flexibility to defer 12-24 months.

The fund has already raised $238,000. The fund is open only to Village Launch program alumni, who are being contacted by the organization with details on how to apply.

“The most joy you get in this work is when you connect people with means with the people who are doing the work,” said Mike Gatchell, co-founder and CEO of Abundance Capital. “That’s where the magic is really at.”

“This fund really will help us grow and scale this need for capital,” said Dan Weidenbenner, Executive Director of Mill Village Ministries. “What it’s really all about is our incredible entrepreneurs.” 

Village Launch started in 2014 and has produced nearly 200 graduates, all of whom are now eligible for funding.

Learn more about Village Launch programs

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