Green is golden as alternative financing in banking gains prominence. There is a surge of banks looking for "green" industries -- your company could be one that is funded.
It is very big news when over 200 investors join forces to form a new type of bank. That is just what happened in Silicon Valley.
New Resource Bank is focusing on investing in green industries, those industries that respect the environment and provide energy savings. The increased concern over the instability of traditional energy sources has promoted this formation.
New Resource Bank will be both a traditional community bank and a backer of green ventures. They are focusing, for instance, on
New Resource Bank has an initial funding of $24.7 million. It is federally insured, and as soon as it begins to take in money from depositors, it will be able to make initial loans of $300 million.
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While Silicon Valley is the first location for New Resource Bank, this alternative financing banking option may soon expand nationwide.
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Top Tip
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September 2, 2010
Have you checked with your local credit union for business financing? If not, you should.
Come back tomorrow for another Top Tip of the Day

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