The National Coalition for Community Capital (NC3) published Community Investment Funds: A How-To Guide for Building Local Wealth, Equity, and Justice.
The report lifts up examples of the few existing ways that communities can aggregate small investments to support local businesses.
The most common form is the Charitable Loan Fund, which is exempt from the 1940 Act purely by virtue of the fund itself being a charitable organization.
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The World Bank’s Development Marketplace, a competitive grants program, has provided $1.4 million grants to 12 social enterprises in the northeastern states of Assam, Meghalaya and Mizoram for development activities and capacity building investments.