Slow Money SLO, a locally based offshoot of the nation wide nonprofit Slow Money, is bringing the founder and chairman of the Slow Money Institute, Woody Tasch to SLO on Oct. 6.
The author of Inquiries into the Nature of Slow Money: Investing as if Food, Farms, and Fertility Mattered, Tasch has popularized a form of local investing in businesses that add value to the supply chain.
Founded in 2012, the Slow Money SLO network focuses on small food and farm operations that are one step above the start-up phase but need a serious round of investment in order to break through to sustainable production. In 2015, the SLO Natural Foods Co-op was in the first round of businesses to pay off their peer-to-peer loan.
“We’ve been a working nonprofit in the community for four years,” explained Jeff Wade, director of the SLO branch, “The idea, simply, s to take money out of Wall Street and to use it directly with local investment in food and farming.”
It’s not a pie in the sky idealist operation however, “We scrutinize the operation extensively and assess what their needs are going to be before we decide to make a recommendation.”
After that it is up to the individual group members, other businesses in the market, to decide to lend all or some of the funds. Slow Money helps facilitate the process with bookkeeping and private lenders notes.
Locals may recognize some of the names that have been jump started with support, including Mama Ganache Artisan Chocolates, Reef Points Hard Cider, Baba Small Batch and Native Herbs and Honey Co.
The typical size of the business supported, said Wade ranges from a two to three person partnership to a business with about 20 employees. After that, more traditional options from credit unions like SESLOC or help from the Small Business Administration become available to them.
“We really do have to vet our applicants,” said Wade, but added that, as a trusted recommender for Kiva, an online micro-lender, Slow Money SLO can help businesses with other kinds of resources.
On Oct. 6 and Oct. 7, the group will be two separate events with opportunities to learn more. Tasch will present at the SLO Guild Hall – formerly known as the Grange – with a panel from 5:30 p.m. to 8 p.m. and on Oct. 7, Niner Wine Estates in Paso Robles will host and evening benefit.
Call 300-2805 for more information about events.
