How It Works
Creating Opportunity for Colorado Employers, Job Seekers, and Training Providers
The Colorado Pay It Forward Fund provides flexible, no- and low-interest loans to Colorado job seekers, training providers, and employers. Supported by local foundations, the Fund aims to helps workers secure and succeed in well-paying, in-demand local jobs.
Specifically, the fund aims to:
Minimize job seekers’ up-front costs of professional training and education by facilitating low- to no-interest loans that are repaid only when job seekers get hired. All loan repayments are recycled back into the Fund to support future job seekers.
Connect employers to low-interest loans to expand programs (such as apprenticeships) and/or in-house training that leads to well-paying jobs for more employees.
Connect professional training providers to funding that helps high quality, employer-connected programs expand and serve more Colorado-based learners.
How the Fund Helps Job Seekers Help Themselves & Others
Funding from Colorado-based funders and impact investors is used to provide no- and low-interest loans to job seekers, training providers, and employers.
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- Job seekers receive no- and low-interest loans to enroll in high-quality training programs with proven track records of placing graduates in well-paying, in-demand jobs.
- Loans to job seekers are repaid only when job seekers secure a job and earn at least $40,000 annually. In some cases, employers may even pay off such loans on behalf of their newly hired employees.
- Training providers and employers receive no- and low-interest loans to train and develop more workers.
- Job seekers who don’t get hired or earn less than $40,000 annually are not required to repay their loans.
- All loan repayments are recycled back into the Fund to support future job seekers.
Get Started!
Click below to learn how you can get involved with the Colorado Pay it Forward Fund.
