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 Charities Aid Foundation has set up a scheme, called the Social Enterprise Assist, that will render interest-free loans of up to £10,000 each to help social enterprise start-ups.