Home State Bank, Colorado Enterprise Fund to help finance Innosphere companies

FORT COLLINS — Rocky Mountain Innosphere startups have a new source of up to $500,000 in capital thanks to Home State Bank and Colorado Enterprise Fund, the nonprofit technology incubator said Friday.

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.

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Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.

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.