Savings Bank of Walpole recently became a founding sponsor of The Local Crowd (TLC) Monadnock's Pay-It-Forward Fund, which will provide support and resources to Monadnock area crowdfunding campaigns. that focus on things like affordable housing, farms and food, and living wage jobs.
The Local Crowd Monadnock is a community-based crowdfunding program helping startup ventures, early-growth stage companies, and community-focused projects find access to capital.
Through the Pay-It-Forward fund, TLC Monadnock will provide initiatives with access to consultants, videographers, social media marketers among others. TLC Monadnock will identify each campaign team's specific needs through a pre-assessment survey and provide extra resources to fill in the team's most critical gaps.
"Savings Bank of Walpole is honored to be a founding sponsor for the TLC Monadnock Pay-it-Forward campaign," said Mark Bodin, president of Savings Bank of Walpole. "It's great to see the different initiatives being developed in our community and the collaboration of resources being used to make it happen."
The Local Crowd Monadnock is hosted by the Monadnock Food Co-op and supported by community partners: Greater Keene Chamber of Commerce, Greater Peterborough Chamber of Commerce, NH Small Business Development Center and Monadnock Economic Development Corporation.
According to a survey designed by economist Michael Shuman, only 25% of finance providers in the Monadnock region feel that promising businesses can easily find capital of $50,000 or less. Furthermore, just 20% of entrepreneurs believe the region makes it easy for individuals to find capital. TLC Monadnock intends to shift this metric and boost social entrepreneurs' access to capital.
TLC Monadnock is one of four communities participating in a year-long research project with the National Science Foundation and The Local Crowd designed to uncover the best ways to support social enterprises, which are mission-driven organizations that use business principles to make the world a better place
For more information, visit tlcmonadnock.com or contact Jen Risley at 603-283-5401.