Mercedes Invests in ShadeFund Program

The rise of alternative powered vehicles and alternative fuels has made many entrepreneurs take a shot at stardom with start-ups in this brave new sector. Although some have already made it, most are still struggling to make ends meet, mostly because of the lack of money.

In an attempt to show its support for green entrepreneurs, Mercedes Benz announced it would invest into a new funding program called ShadeFund and run by The Conservation Fund. Mercedes did not specify how much money it would contribute to the program with.

“Mercedes-Benz is a brand that traces its 125-year history back to the invention of the automobile.  It is a history that started with the entrepreneurial partnership of its founders Gottlieb Daimler and Karl Benz," said Steve Cannon, vice president of marketing for MBUSA.

"It is in that spirit that we are partnering with The Conservation Fund—to provide that opportunity to a group of talented and passionate entrepreneurs who are working to innovate in the area of sustainability."

The program is intended for all the businesses in need of microloans. Each can be provided with funding which ranges in between $5,000 to $50,000. The money can be used as working capital, as well as for the acquisition of materials, supplies, equipment and certification.

The money is intended for sustainable farms, forestry and forest products, eco-tourism and small-scale renewable energy production.

"As an inaugural sponsor of ShadeFund, Mercedes-Benz USA is investing in the spirit of innovation by providing much needed seed capital for companies in emerging green sectors. Together we can create creative conservation solutions that spur economic development and reward environmental and social responsibility," said Shade Fund's Director, Rick Larson.