Community Growth Fund
Community Growth Fund
The Greenline Community Growth Fund (GCGF) is a Greenline-managed community development venture capital fund with a national footprint that targets small operating businesses with less than $5 million of capitalization.
Primarily in conjunction with the underwriting and due diligence of its larger NMTC transactions, Greenline conducts in-depth reviews of community challenges and needs, including numerous meetings with local community leaders and nonprofit groups. Based on these reviews, Greenline identifies the types of businesses that can benefit the local community and then endeavors to fund:
- Operating businesses offering employment or wealth creation for low-income persons or low-income communities.
- Operating businesses delivering products or services that are beneficial to low-income communities and/or low-income people.
During community reviews Greenline identifies one or more local partners to help provide technical assistance to the GCGF target market businesses.
This technical assistance supports the seed and growth phases of the businesses, including: business planning; training in areas of need; provision of incubator office space, back-office support services and raising capital. Partners are typically a Small Business Development Center (SBDC) or a local community organization.
GCGF is currently capitalized with $2 million of Greenline’s proprietary capital and is expected to grow over time. Investments typically range from $5,000 to $500,000 depending on the size/needs of the business. Approximately $500,000 of existing funds are targeted toward the smaller end of the range (less than $100,000) to ensure a significant number of “main street” businesses gain access to funding.
Investment terms vary depending on product type and are structured to deliver “patient capital” that best meets the needs of the business.
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