Slow Money Southern California has been actively exploring means of enabling deal making at the crowdfunding and investment club end of things. Led by our Director of Investment Programs, Michelle Greenwood, we are developing many opportunities for slow-money minded agripreneurs to connect with community members and potential funders
Over the past 18 months, more than $40,000 has been channeled to small, local, sustainable food businesses in Southern California through our collaboration with the Kiva Zip crowdfunding platform. In increments as low as $25, individuals interested in investing locally can make a micro loan to a local entrepreneur. An additional $10,000 has been loaned to local businesses through Slow Money SoCal’s spin-off investment club, Local Investment Networking Club (LINC). LINC is focusing on facilitating person-to-person transactions in the $5,000 range. We are also working with Community Sourced Capital, another crowdfunding site, to create a raise targeted at the $500 per individual level. Two options are being considered; the first is a straight crowd funding campaign, the second is a matched fund campaign through which a community development bank or other source will match the amount raised by the community in a zero interest loan. Both of these avenues seem promising.
At each step, we have been hosting community meetings around the region and these meetings continue to have wonderful energy, providing the basis for collaboration and co-investment relationships.
Last month, Brent Collins, who has provided leadership for Slow Money Southern California since inception, passed the baton to Frank Golbeck, of Golden Coast Mead.
“We’re still in the early days. It will take imagination, cooperation and lots of good work to bring the Slow Money vision to more people. As we do, the multiple benefits to the economy, the community and the soil are almost as sweet as Golden Coast Mead.”