LOCAL INVESTING: HERE’S HOW! WELL EVENT, SEPT. 27 - by Madge Strong
Do you have a few thousand dollars sitting in a bank account or CD? It’s earning virtually 0% and god knows where that money is invested – certainly not locally!
I’m very excited about a new opportunity for investing in our local economy. Economic Development & Finance Corp (EDFC), a non-profit dedicated to promoting economic well-being in Mendocino & Lake Counties, has created a brand new, cutting edge vehicle for local investing. It’s called a “Direct Public Offering” (DPO), and it’s eligible to anyone in California.
The minimum investment in the DPO is $1,000. The goal is to raise between $250,000 and $1 million, which will then be loaned at reasonable rates to enterprises that are good for the triple bottom-line: people, profit, and planet (or employment, economy & environment). EDFC has an excellent 20-year record of making wise, community-enhancing investments.
Your investment in this fund would be paid back over a 6-year period at 2% per year, with interest deferred the first two years to enable “patient” money for new businesses.
There are already exciting prospective recipients of loans, such as a wool processing facility, bio-char enterprise, and/or meat processing plant.
You can learn all about it, ask questions and - if you’re ready - make an investment in our local future at this event:
Sunday, Sept. 27th, 4-6pm, at Willits Library