The Forward Fund has received a $1 million grant from the Golden LEAF Foundation to expand its financing program for students in short-term, high-demand workforce training programs.
The Golden LEAF Foundation awarded the funding through its Strategic Projects Advancing Rural Communities (SPARC) initiative, which aims to "support bold, collaborative projects that address critical needs and create transformative opportunities across rural North Carolina," according to a news release issued Monday.
Meaghan Dennison, The Forward Fund's founder and CEO, said Monday that she's "thrilled" to partner with Rocky Mount-based Golden LEAF, which was established in 1999 to receive a portion of North Carolina's funding from the 1998 Master Settlement Agreement with cigarette manufacturers. Golden LEAF works to increase economic opportunity in North Carolina's rural and tobacco-dependent communities through grantmaking, collaboration, innovation and stewardship, according to the release.
"I think the recognition and support from Golden LEAF is really substantial for the organization," Dennison said, "and comes at a time that allows us to expand to serve, particularly more rural North Carolinians, and support them to access short-term training that leads to high-wage careers."
Headquartered in Wilmington, The Forward Fund is North Carolina's first pay-it-forward funding initiative that aims to provide tailored financial support to help students enroll in educational programs, graduate and secure high-wage employment, according to the release.
The Golden LEAF grant will allow The Forward Fund to expand its "zero-interest, outcomes-based financing program for students pursuing high-demand short-term training programs such as commercial driver's license (CDL), electrical lineman, skilled trades and healthcare pathways," the release stated.
"North Carolina employers continue to face a growing demand for skilled workers," Scott Hamilton, president and CEO of the Golden LEAF Foundation, wrote in the release. "Golden LEAF is proud to support The Forward Fund's innovative approach to helping students access the training they need to fill these high-demand positions."
"By expanding opportunities for individuals to enroll in workforce programs offered through community colleges across southeastern North Carolina," Hamilton added, "these funds will help ensure employers have access to a trained, ready workforce while creating pathways to economic opportunity for residents and communities throughout the region."
Dennison said The Forward Fund uses borrowers and labor market data to monitor and identify trends in high-demand positions. The $1 million in funding is expected to support approximately 100 students as they complete credentialed training programs.
The Forward Fund offers three loan products, including loans with maximum amounts of $5,000, $10,000 and $15,000, according to Dennison. The average student loan from The Forward Fund ranges from $8,900 to $10,000, she added.
"Each loan product is designed not only to meet tuition and fees for the specific program," Dennison said, "but more often than not, the majority of our funding goes to living expenses for the duration of the program."
The nonprofit previously received
$3 million in funding from the New Hanover Community Endowment and a $1 million five-year commitment from Live Oak Bank, which launched in 2025, among other corporate and individual funders.
Dennison said the organization is focused on continuing to grow its offerings in Southeastern North Carolina.
"Our goal is certainly to be able to provide a menu of programs that have access to our financing," she said, "and hopefully connect more students to those programs and the ultimate high wages on the back end."
