Community Revolving Loan Fund
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The Community Revolving Loan Fund (CRLF) seeks to educate, support and empower our local community through micro-loans and access to professional development. Supported by philanthropy and the community it serves, this charitable fund supports community revitalization by providing equitable access to resources for members of the Arroyo S.E.C.O. Network of Time Banks (ASNTB). |
The first of its kind ever established for a Time Bank, the fund offers our network of artisans, entrepreneurs, visionaries and worker-owned cooperatives access to community-supported, low interest micro-loans to build their small businesses. Eligible Time Bank members with either a small business or worker-owned cooperative may apply to receive a micro-loan in the amount of $500-$5,000.
As an experiment in complementary currency, the loan fund utilizes both federal dollars and time credits. The fund loans federal dollars to ASNTB members through a credit union, while members pay associated loan fees for processing in time credits. The payment of these fees is calculated in the time it takes our loan coach to manage the loan over the course of its life. As loans are repaid, more funds become available for new borrowers. Borrowers may also participate in the Local Economy Incubator, which matches Time Bank entrepreneurs with Time Bank mentors who provide business development expertise in areas such as sustainability, strategy, business plan development, branding, media and more.
The fund is especially supportive of women and the economically distressed, ventures that promote environmental and/or community sustainability, ventures that show direct and positive impact on the ASNTB community, social entrepreneurs or cooperatives with a social mission and ventures that promote the Solidarity Economy.
Like community-sustained agriculture, local currency movements and alternative economies like Time Banking, supporting small business, cottage industry and worker-owned cooperatives nurtures human-scale economics in our communities and promotes the values of the Solidarity Economy.
A very special thanks to the Metabolic Studio, the LA EcoVillage, the Permaculture Credit Union, the Sustainable Economies Legal Center and Jenny Kassan of Cutting Edge Capital for their support, advice and guidance in this project's development.
For a full list of eligibility requirements, criteria and terms, please visit the Community Revolving Loan Fund webpage.
Complete the initial screening here.
As an experiment in complementary currency, the loan fund utilizes both federal dollars and time credits. The fund loans federal dollars to ASNTB members through a credit union, while members pay associated loan fees for processing in time credits. The payment of these fees is calculated in the time it takes our loan coach to manage the loan over the course of its life. As loans are repaid, more funds become available for new borrowers. Borrowers may also participate in the Local Economy Incubator, which matches Time Bank entrepreneurs with Time Bank mentors who provide business development expertise in areas such as sustainability, strategy, business plan development, branding, media and more.
The fund is especially supportive of women and the economically distressed, ventures that promote environmental and/or community sustainability, ventures that show direct and positive impact on the ASNTB community, social entrepreneurs or cooperatives with a social mission and ventures that promote the Solidarity Economy.
Like community-sustained agriculture, local currency movements and alternative economies like Time Banking, supporting small business, cottage industry and worker-owned cooperatives nurtures human-scale economics in our communities and promotes the values of the Solidarity Economy.
A very special thanks to the Metabolic Studio, the LA EcoVillage, the Permaculture Credit Union, the Sustainable Economies Legal Center and Jenny Kassan of Cutting Edge Capital for their support, advice and guidance in this project's development.
For a full list of eligibility requirements, criteria and terms, please visit the Community Revolving Loan Fund webpage.
Complete the initial screening here.
