Sirti Growth Fund Provides Financing
In any economic climate gaining access to funding is difficult. In these times, Sirtiís ability to match start-up and emerging companies with sources of funding is even more important. Sirti assists innovative technology companies in gaining capital to grow, profit, and create jobs through the Sirti Technology Growth Fund, assisting with SBIR/STTR research grants, and facilitating introductions to angel investment groups.
In 2008, the Sirti Technology Growth Fund awarded four loans for a total of $990,000. Six more loans are in process. Sirti facilitated twenty-four angel investment group introductions and raised $1,816,000. They assisted with nine SBIR/STTR research grants.
The Sirti Technology Growth Fund is a revolving $3million fund that awards $50,000 - $400,000 loans. The loans are available to qualified technology companies in ten counties in Eastern Washington and five counties in Northern Idaho. This fund is funded by the U.S. Department of Commerce Economic Development Administration and loan funds from the Business Development Corporation of Eastern Washington.