Idea Could Help Small Businesses Grow In Staunton

STAUNTON, Va. - Dan Funk lives in Staunton and is trying to launch a business called Makerspace.

"Having these Makerspaces that allow people access to this equipment and to other people who know how to use this equipment opens us up to local innovation," he says.

He says that it's hard for many entrepreneurs to get a loan.

"if you invest a lot of money starting up a business, that's much more risky to the bank so it's much harder for them to justify that loan," Funk says.

Thursday night, the Staunton Creative Community Fund held a meeting and one of its topics was an idea called Slow Money, which would pair local entrepreneurs with investors.

Christina Cain works with the organization and thinks that Slow Money is an interesting concept.

"We've got investor on one side and small business needs that investment to help get their idea off the ground and slow money helps connect those two parties together," says Cain, "I really do feel like a slow money initiative is reflective of the wants and needs of Staunton."

The idea is just in its early stages, but Funk thinks that more people should invest into the community.

"The vast majority of us walking around here today have money in mutual fund that go to support giant banks and corporations that aren't investing in this community," Funk says.

He also hopes he can soon get his idea of Makerspace off the ground.

For more information on the Staunton Creative Community Fund, visit their website at http://stauntonfund.com/


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