Report examines Vested for Growth’s innovative business financing
Innovative Financing for Community Businesses, a recent report from the University of New Hampshire’s Carsey School of Public Policy, spotlights Vested for Growth as an “alternative business financier” that is broadening the options available for community-based businesses in N.H.
The report provides case studies from VFG and from the Local Enterprise Assistance Fund (LEAF) in Boston as illustrations of options that can “help businesses grow while maintaining their current ownership structure and connections to the community.”
The VFG case study examines its relationship with Single Digits, a high-speed internet software company that has added 111 jobs since VFG’s investment.
The business needed capital to grow and its owners wanted to maintain control. Single Digits co-owner Bob Goldstein says VFG helped him find “the right color of money” for his company.
The Carsey report says early results from VFG and LEAF suggest that businesses can succeed with their financing strategies, and that business owners should be aware of a broad range of financing options available to them.
Vested for Growth and the Community Loan Fund have created an online tool, Capital Compass, to help business owners better understand those options and why certain types of financing may be preferable for their situations.