Economist cites NH Community Loan Fund among top grassroots investing tools
Writing about the socially responsible investing (SRI) movement, Shuman observed that "a growing number of its movers and shakers are appreciating the importance of local investment. One reason is that there is compelling evidence that locally owned businesses are the key to community prosperity. Another is that the close proximity between investors and local companies increases corporate accountability and reduces the probability of fraud."
Shuman, whose latest book is Local Dollars, Local Sense: How to Move Your Money from Wall Street to Main Street and Achieve Real Prosperity, offered 10 ways grassroots or retail investors can "go local." The eighth promoted local investment funds, which reduce investors' risk by pooling their capital. The Community Loan Fund was mentioned among those that are open to unaccredited investors (people who earn less than $200,000 a year and have a net worth of less than $1 million).
The Community Loan Fund gives investors with as little as $1,000 the opportunity to earn fixed-rate interest as high as 5%. Their investment dollars are immediately put to work in local communities, creating and preserving affordable housing, jobs, child care, and vital community services, and helping bring healthy local food to consumers.
Least more about investing in the Community Loan Fund.