On Nov. 15, MORTAR
kicked off its Iron Chest Fund with a #100for100 campaign
. The entrepreneurship hub is looking for 100 people to donate between $100-1,000 to help small business owners launch their ideas.
MORTAR was inspired by Mayor John Cranley’s State of the City speech this year, which highlighted the importance of having a vibrant and diverse ecosystem where everyone, regardless of their background or socioeconomic status, has a chance to participate.
The goal is to raise $100,000, but Iron Chest Fund’s Managing Director Derrick Braziel said he’s shooting for $300,000. The fund has already been pledged a $50,000 matching grant from Matt Butler, Signature Hardware’s president, by Jan. 1.
The fund will provide zero percent interest micro-loans of up to $10,000 to local entrepreneurs who typically wouldn’t be qualified for a loan through a traditional bank. Every potential recipient will take a financial literacy and money management course before receiving a loan.
Nine local entrepreneurs have already been chosen to receive loans through the Iron Chest Fund. Recipients include apparel companies, a men’s consignment shop and a paleo-friendly restaurant.
You can donate to the Iron Chest Fund here
MORTAR is also having its seventh Life’s a Pitch-Mortar Pitch Night and Graduation
at 6 p.m. on Dec. 15 at the Lindner YMCA at 1425 Linn St., 45214. Admission is $5.