February 2, 2024
Denver-area fund uses $8M to get more Coloradans in high-demand jobs
Denver-area nonprofits on Thursday launched a new effort aimed at filling the gaps in the state’s ongoing worker shortage.
Denver Business Journal: Analisa Romano
Managed in part by a national nonprofit called Social Finance, the effort is directed at in-demand, well-paying jobs such as those in IT, skilled trades and health care.
The effort, called the Colorado Pay it Forward Fund, is an $8 million revolving loan fund that allows prospective employees to use the money for the cost of training or to cover living expenses while they are in training. At zero interest, the loans are only paid back once the trainee has found a job and makes at least $40,000 per year.