Community Revolving Loan Fund
The Arroyo SECO Community Revolving Loan Fund (CRLF) seeks to educate, support and empower our local Time Bank 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).
Meeting People Where They Are
More and more, the mainstream economy offers fewer opportunities for local growth, community enrichment and personal empowerment. 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. 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 Sharing Economy..
Time Bank members are enterprising, resourceful and creative. Many members have launched local business, restaurants, co-ops and hand made products such as jams, jewelry, clothing, botanicals and bread. Our fund provides them with micro-loans to scale up their production, upgrade equipment or purchase materials and supplies.
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 Sharing Economy.
How It Works
Eligible Time Bank members with either a small business or worker-owned cooperatives may apply to receive a micro-loan. Loans in the amount of $500-$5,000 are considered.
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 the fund's financial partner, the Permaculture 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 coaches 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.
Download a copy of our program description, complete with eligibility requirements and terms.
Why It Works
Micro-lending programs are particularly successful because they leverage social capital. Borrowers are more likely to repay their loans when they are accountable to their community. The Arroyo Seco Network of Time Banks takes this social capital one step further by honoring a set of core values that includes reciprocity, paying it forward and a deep respect for nurturing interdependence. Participation in the Local Economy Incubator fosters even more community trust and responsibility as we invest our time, resources and belief in tomorrow’s small business owners.
Our loan fund is community-sourced, community-driven and community-managed. The loan fund administrator, peer review panelists and Incubator mentors are Time Bank volunteers who are compensated for their time in Time Credits.
We strive to offer our members meaningful opportunities to engage in their community whether as a borrower, a mentor or a supporter. We hope to see today’s borrower become tomorrow’s mentor and fund donor.
How to Apply for a Micro-Loan
The ASECO Community Revolving Loan Fund is now accepting borrower applications
Replicate this Program
We believe deeply in reciprocity and the Sharing Economy. We hope other organizations will develop similar programs and have therefore made our development documents open source and available to the public via Dropbox.
To receive more information on how you can receive a micro-loan, participate as a mentor or donate, email CRLF committee at [email protected]
This fund was made possible by the community it serves. Big thanks to all who donated:
Sarah McGowan Dear, Janine Christiano, Autumn Rooney, Nancy Berlin and Paul Tepper, Suzanne Katz, Mary Brent Wehrli, Devon Dear, Abby Greer, Claudette Sutherland, Michael Fonte, Kathy Perlow, Erahm Machado, Deirdre McGowan, Olivia Uhley, Christopher Rooney, Blake Todd, Edgar Cahn & Chris Gray, Kuang Lee, Kindred Gottleieb, James Conn, Simohn Spearitt, Mike Dillon, Laura Henne, Heather Dear, Kathleen and Paul Stein, Marilyn Schafer, Margaret Ann Smith, Ishara Bailis and Tim Bowler, Adele Wallace, Lee Conger, Gloria Putnam, Kitty Kroger, Sarah McCabe, Ecriselia Gutierrez, Sara Terry, Elana Mann, Jen and Paul Berlin, Ai Kusuhara, Marsha Seyffert, Ginkgo Lee, Sunita Deshmukh, Diane Carroll, Therese Brummel, Ana Quintero, Teresa Padua, Jonathan Williams, Jennie Cook, Paul Glover, Hollis Dougherty, Anna Peters, Marie-Reine Velez, Aldwyn Hamilton, Ami Howard, John Wingler, Lawrence Ziese, Eddie Chivu, Jason Chang, Thea Orozco, Blake Todd, Kimberly Wade, Leanne Pedante, Kathy Adams, Bonny McGowan, Nolwenn Kuchynka, Frederick Portillo, Felicia Williams, Cheryl Revkin, Madisyn and Lincoln Brown, Laurel Beck, Jim Hanna, Vanessa Aramayo, Sandra Madera and Anonymous Donors.
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.
Meeting People Where They Are
More and more, the mainstream economy offers fewer opportunities for local growth, community enrichment and personal empowerment. 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. 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 Sharing Economy..
Time Bank members are enterprising, resourceful and creative. Many members have launched local business, restaurants, co-ops and hand made products such as jams, jewelry, clothing, botanicals and bread. Our fund provides them with micro-loans to scale up their production, upgrade equipment or purchase materials and supplies.
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 Sharing Economy.
How It Works
Eligible Time Bank members with either a small business or worker-owned cooperatives may apply to receive a micro-loan. Loans in the amount of $500-$5,000 are considered.
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 the fund's financial partner, the Permaculture 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 coaches 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.
Download a copy of our program description, complete with eligibility requirements and terms.
Why It Works
Micro-lending programs are particularly successful because they leverage social capital. Borrowers are more likely to repay their loans when they are accountable to their community. The Arroyo Seco Network of Time Banks takes this social capital one step further by honoring a set of core values that includes reciprocity, paying it forward and a deep respect for nurturing interdependence. Participation in the Local Economy Incubator fosters even more community trust and responsibility as we invest our time, resources and belief in tomorrow’s small business owners.
Our loan fund is community-sourced, community-driven and community-managed. The loan fund administrator, peer review panelists and Incubator mentors are Time Bank volunteers who are compensated for their time in Time Credits.
We strive to offer our members meaningful opportunities to engage in their community whether as a borrower, a mentor or a supporter. We hope to see today’s borrower become tomorrow’s mentor and fund donor.
How to Apply for a Micro-Loan
The ASECO Community Revolving Loan Fund is now accepting borrower applications
- Complete the Initial screening
- Questions? Contact us at [email protected]
Replicate this Program
We believe deeply in reciprocity and the Sharing Economy. We hope other organizations will develop similar programs and have therefore made our development documents open source and available to the public via Dropbox.
To receive more information on how you can receive a micro-loan, participate as a mentor or donate, email CRLF committee at [email protected]
This fund was made possible by the community it serves. Big thanks to all who donated:
Sarah McGowan Dear, Janine Christiano, Autumn Rooney, Nancy Berlin and Paul Tepper, Suzanne Katz, Mary Brent Wehrli, Devon Dear, Abby Greer, Claudette Sutherland, Michael Fonte, Kathy Perlow, Erahm Machado, Deirdre McGowan, Olivia Uhley, Christopher Rooney, Blake Todd, Edgar Cahn & Chris Gray, Kuang Lee, Kindred Gottleieb, James Conn, Simohn Spearitt, Mike Dillon, Laura Henne, Heather Dear, Kathleen and Paul Stein, Marilyn Schafer, Margaret Ann Smith, Ishara Bailis and Tim Bowler, Adele Wallace, Lee Conger, Gloria Putnam, Kitty Kroger, Sarah McCabe, Ecriselia Gutierrez, Sara Terry, Elana Mann, Jen and Paul Berlin, Ai Kusuhara, Marsha Seyffert, Ginkgo Lee, Sunita Deshmukh, Diane Carroll, Therese Brummel, Ana Quintero, Teresa Padua, Jonathan Williams, Jennie Cook, Paul Glover, Hollis Dougherty, Anna Peters, Marie-Reine Velez, Aldwyn Hamilton, Ami Howard, John Wingler, Lawrence Ziese, Eddie Chivu, Jason Chang, Thea Orozco, Blake Todd, Kimberly Wade, Leanne Pedante, Kathy Adams, Bonny McGowan, Nolwenn Kuchynka, Frederick Portillo, Felicia Williams, Cheryl Revkin, Madisyn and Lincoln Brown, Laurel Beck, Jim Hanna, Vanessa Aramayo, Sandra Madera and Anonymous Donors.
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.
