In this Forest Business Network article, Young Loggers Buck the Trend and Grow New Business, our Natural Capital Investment Fund is featured as a key player in helping young loggers get started: goo.gl/Ivq3UT. Learn more about the innovative financing and mentoring were providing in this excerpt from the article: In June, Coleman Brothers Logging was able to purchase a used TigerCat skidder and feller/buncher with a loan from Natural Capital Investment Fund’s (NCIF) Logging Initiative. “Runnning the equipment we purchased with the NCIF loan, we doubled our loads in the first week,” says Will Coleman. “We really appreciate the chance to show we can make it on our own.” Rick Larson, Senior Vice President for NCIF, is also pleased that the financing provided will help the company move to the next level. “They did well in their first year of operations, despite working with slow, unreliable equipment that needed expensive repairs,” says Larson. “They convinced us this new equipment will help them work more profitable. And, the fact that Ideal stands behind them is extremely important.” NCIF launched it’s logging Initiative with support from CEI, a leading Community Development Corporation (CDC) and Community Development Financial Institution (CDFI), and the U.S. Endowment for Forestry and Communities, two organizations that share NCIF’s commitment to the forest products industry and loggers in particular. The job creating and sustainability aspects of this work made it an ideal recipient of New Markets Tax Credit financing. The program funds equipment purchases by existing certified loggers who can’t raise all the financing they need from traditional sources. “Well-equipped, responsible loggers are essential for healthy forests and a healthy forest products industry,” says Larson. “The opportunity is there for young hardworking loggers to grow a business and, with the right help, they will succeed.” (All photos provided by NCIF)
Posted on: Fri, 11 Jul 2014 00:00:01 +0000
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