• December 10, 2010

Mercedes-Benz USA is supporting the Conservation Fund's ShadeFund with peer-to-peer loans of private capital to green, forest-related ventures and entrepreneurs. The automaker says the program is meant to support small business.

Microfunding is best known as a way for entrepreneurs in third world countries to start businesses, but Mercedes says microfinancing is needed in the U.S. because of the current lending stalemate.

The automaker, which is also inaugural sponsor, says it will finance 10 to 12 "Mercedes-Benz Signature ShadeFund Entrepreneurs" green businesses over the next two years. The first two are Ct.-based City Bench and Bluebird Hill organic "permaculture" farm, out of North Carolina; they will receive their loans by the end of the year, per Mercedes.