We provide nurture capital to local farms and food enterprises in two ways:
1) SOIL FUND (Slow Opportunities for Investing Locally)
Here's how it works:
- Slow Money Central Virginia pools charitable contributions from citizens who want to make an impact on their local food system.
- We then make 0% interest loans to community farmers and local food entrepreneurs.
- Loan funds circulate. So when a loan is paid back, it goes back into our fund for future loans!
- Loans are selected based on loanee's potential to make the greatest positive impact on our local food economy and a set of ethics established by a loan selection committee.
- All loans are voted upon by those who donate to Slow Money Central Virginia with a minimum threshold of $50. (You can donate any amount of money to our organization but only contributions of $50 and over will be eligible to vote on loans.)
- Loans are distributed at set times of the year, or at other times to be determined.
2) PEER-TO-PEER Lending
These are low interest loans greater than $20,000 directly from someone in the community who has shown an interest in supporting local food businesses. These are meant to be affordable loans and the interest rate will be negotiated between the lender and borrower, typically between 2% and 4% depending on the size and term of the loan.
* There are no fees to apply for either of the loans types above.
Our nurture capital programs are intended to balance proper due diligence with the nimbleness not afforded farmers through USDA programs or traditional banking. Loans will be considered on request and be examined initially based on these considerations: 1) Length of time and prior success farming; 2) Consistency of the loan request with the values of Slow Money; 3) Potential impact on the local foodshed; 4) Potential for repayment.
We are currently accepting applications for loans. If you are interested, please click the button below: