At Invest Aurora, we take great pride in helping our Aurora business community find the tools they need for long-term success. In fact, we have a long list of available resources for businesses to take advantage of. One of the most fulfilling achievements is helping a local business secure the financing they need to accomplish their goals. Such was recently the case for Aurora business Nide Jardin. Through the EDA Revolving Loan Fund, Invest Aurora was able to help Nide Jardin continue on their quest for growth.
Nide Jardin Company Overview
Nide Jardin was founded in March of 2021 by Nancy Martinez. Martinez describes her business as “a Latinx, female-lead business that provides a distinctive, culturally-responsive space for all guests to enjoy. We offer a unique cacti and houseplant collection to pair with a variety of self-care, artisan and home goods products”. As she opens her new permanent location in Aurora, Martinez shares that she is “excited to create a place that serves our community and offers a welcoming space reminiscent of my heritage”.
Assistance Received Through Invest Aurora
Although Martinez had high hopes for opening a brick-and-mortar location, she realized that securing the financing was a difficult task. But Invest Aurora was happy to step in and provide an option with the EDA Revolving Loan Fund. As Martinez recalls, Invest Aurora was her first stop when looking for a place to lease in Downtown Aurora. When she ultimately decided to purchase a property, she spoke with Christopher Faber from the Invest Aurora team about her options.
Faber explained to her the benefits of the EDA Revolving Loan Fund and how it could help her to purchase the perfect property to begin her journey. In fact, many small business owners have explored this option when they could not obtain traditional bank financing. According to Martinez, “After that, he made sure to follow up with us and walked us through the whole process. Invest Aurora has been instrumental in helping me with making this vision come true”.
EDA Revolving Loan Fund
On August 5, 2021, the U.S. Economic Development Administration (EDA) announced an award of a $2 million CARES Act Recovery Assistance grant to Invest Aurora to capitalize and administer a Revolving Loan Fund, providing gap financing to small local businesses. Through this loan, businesses can obtain short-term financing of up to 60 months, with loan amounts up to $750,000. As existing loans get paid off, those funds become available to lend out again to new businesses. Invest Aurora is able to process and underwrite these EDA loan applications in-house. You can find details of this loan process at https://investaurora.org/eda-revolving-loan/.
Why an Aurora Location is Perfect for Nide Jardin
While Nide Jardin started as a farmers market pop-up vendor, Martinez had dreams of expanding into a permanent location. As she was born and raised in Aurora, it felt natural to her to want to plant her roots right in her hometown. Indeed, she takes pride in her local community and feels that, “the Aurora community is one of a kind, diverse, and they always show up to support” local businesses.
Growing with Help from Invest Aurora
Nide Jardin has big plans for 2023! Along with completing the build out of the amazing new space, they plan to hold special events and workshops that will benefit the community. Of course, Invest Aurora will be there for any assistance they need. Our team can offer advice on designing the space for efficiency, provide resources for identifying qualified job candidates, keep them informed about exciting new opportunities for business growth, and much more.
If you would like information about the valuable resources available for existing and potential Aurora businesses, reach out to Invest Aurora at 630-256-3160 or firstname.lastname@example.org.