The Sharing Economy just got a new tool for its toolkit, friends!
I’m thrilled to announce that the ASECO Community Revolving Loan Fund is now officially funded!
This past week, we surpassed our fundraising goal on Indiegogo, raising over $6,000 from over 70 donors, almost half of whom are time bankers in Los Angeles and beyond! (Our campaign is still ongoing through November 15th, so if you have not yet donated but would like to support the fund, there’s still time!)
The first-ever of its kind to serve a Time Bank, our loan fund will begin offering micro-loans in the amount of $500-5,000 to members with small businesses or worker-owned cooperatives. You can find all of the loan eligibility, criteria and terms now listed on the Loan Fund’s web page.
Our community-driven, community-supported and community-managed micro-loan program will help members purchase needed equipment and supplies, scale up business and support their scalable growth.
The application is now available, so if you’re interested in applying for a loan, simply complete the application and submit it now. We’ll begin reviewing them with a peer review panel in January 2014.
It’s exciting to see a year’s worth of research and development take shape. I’m truly honored to be a part of this project and look forward to seeing it spread its wings.
Many thanks to all of the Time Bank members who pitched in and gave what they could for this project. It’s proof that our social capital has the power to keep on giving through the Sharing Economy!
For more information, contact me at firstname.lastname@example.org