banking
Pennie Ahuero, owner of Viva la Cupcake, is pleased with her Community Sourced Capital experience.
Web to launch an idea, whether it be a business idea or a project or what have you. You reach out to people and you say, ‘I need money to do x, y or z.’” Through a site such as Kickstarter of GoFundMe, a band might ask for money to produce a
CD, for instance. People who contribute to the project might get a T-shirt or an autographed copy of the CD or a house concert, depending on how much they give. Community Sourced Capital is similar, but different. “We’re using a Web-based platform to allow
SUCCESS FEELS GOOD WITH THE RIGHT BANKING TEAM.
a business to reach out directly to its community and ask for money,” Cochran says. “But instead of asking for a donation, what they’re doing is asking for loans.” Community Sourced Capital grew from a business school project at Seattle’s Bainbridge Graduate Institute (now part of Pinchot University), where Cochran earned an MBA in Sustainable Business. Cochran and three classmates developed and launched CSC in their second year with the program. They added a fifth partner soon after graduation. Most of the company’s founders and activities are in the Northwest, but Cochran grew up in Roanoke and Roanoke County. He lives in the city. So far, the company has done only a few projects locally. Viva la Cupcake, a Grandin Village business, got a loan through Community Sourced Capital. So did a restaurant in Lexington and a dogand-dog-owner related business in
We’re committed to helping your business and money grow with commercial lending and treasury solutions. We’ve been part of Christiansburg and the surrounding area for over a century — and we look forward to being part of your future success.
bankatunion.com 540.381.2567 Union Bank & Trust
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JULY 2015
Photos by Natalee Waters