Lending

RSF Makes a Loan to Harmless Harvest

April 14, 2015

Harmless_Harvest_logoWe are pleased to announce a new loan to Harmless Harvest, a San Francisco-based social enterprise that sells 100% Raw & Organic Coconut Water, which is sourced and bottled in Thailand from the harvest of a specific species of coconuts called Nam Hom. RSF financing, in participation with New Resource Bank, will be used to fund working capital needs and build inventory during the peak coconut season to sustain the growing demand of Harmless Harvest products in the United States.

Driven by a belief in positive consumerism and the need for more integrity in our brand-based culture, Justin Guilbert and Douglas Riboud founded Harmless Harvest in 2009. Their business is based on the belief that production and industries don’t have to be detrimental to the environment or the communities at the source, their intention being to promote constructive capitalism. This model values and rewards every stakeholder and contributor in the supply chain, from the farmers to the end consumers, and is committed to positive ecological impact.

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“The values of Harmless Harvest are directly aligned with RSF’s dedication to supporting new economic models that support sustainable food and agriculture,” says Ted Levinson, Senior Director of Lending at RSF. “They are making this happen at all levels of the company—production, distribution, and retail—while also raising public awareness of the value of organic farming.”

Option_4In September 2014, Harmless Harvest became the first Fair for Life fair trade certified coconut water in the United States. In order to achieve this certification, the company was required to demonstrate fair trade practices at each level of its supply chain; form long-term, ongoing partnerships with workers who manufacture their products; establish a safe environment with fair wages and benefits for all employees and partners; and utilize a fair trade premium that will go towards social initiatives in local communities in Thailand. The company plans to apply its fair trade premium towards creating funds for health and education related improvements in Thailand.

“With a mutual focus on social and environmental impact, the partnership between RSF, New Resource, and Harmless Harvest is a clear fit,” says Douglas. “With this loan, we are able to expand our business along with the fair trade and organic practices we require.”

Justin adds, “The loan from RSF and New Resource means more land and water is safeguarded from chemical pesticides and fertilizers, more individuals are employed with a decent wage, and more people are able to consume healthy products. We are proud to work with like-minded organizations and to use this loan to prove that better products can be made in better ways.”

Harmless Harvest has worked hard to form partnerships with Thai communities, offering stable options for employment and income with a focus on long-term growth and sustainability. By investing to build a modern production plant near the Thai farms, the company is now able to employ over 200 local workers, with a goal of doubling that number over the next two years. The co-founders are working with local co-ops to develop new capacity throughout the region, and they expect the number of coconuts available to increase by 200% by 2016. The company has also developed a teaching farm in Thailand promoting organic and sustainable farming practices to Thai farmers.

“It is very encouraging to see that the core values with which Harmless Harvest operates, values that benefit the environment and promote the well-being of local economies, can be a catalyst for success,” notes Bill Peterson, Chief Credit Officer for New Resource Bank. “At the same time, it is great to have a partner like RSF Social Finance that recognizes that financial institutions can act as agents of change by supporting companies that operate sustainably.”

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About Harmless Harvest

Founded in 2009 by Douglas Riboud and Justin Guilbert, Harmless Harvest is a progressive food & beverage initiative set on demonstrating that an ecosystem-based business model can and should be how food is made. By combining innovative scientific methods with local traditional knowledge, Harmless Harvest integrates the long-term welfare of all its stakeholders – from plant to customer – in the creation of better products for all. For more information, visit www.harmlessharvest.com

About New Resource Bank

New Resource Bank is the premier bank for people who are leading the way to a more sustainable world. We match an entrepreneurial spirit with a dedication to achieving environmental and social as well as financial returns. Our mission is to advance sustainability with everything we do—the loans we make, the way we operate and our commitment to putting deposits to work for good. To learn more, visit www.newresourcebank.com

 

Innovative Meal Delivery Program Heals More Than Just Bodies

April 10, 2015

Cathryn Couch traces the start of her non-profit, the Ceres Community Project, to one irritating phone call. She was living in Sonoma County in 2006 and working as a chef at a retreat center, when an acquaintance called, asking Couch to hire her daughter. The catch? The teen couldn’t cook.

The mother was insistent, despite her daughter’s lack of skills, so Couch suggested that they cook meals together and take them to the homeless shelter. Then she remembered a family whose mother had Stage 4 breast cancer. After three weeks of cooking for that family and two others with a similar need, Couch woke up one morning with the thought: Why not train teens to cook for families affected by serious illness? “When people are sick,” says Couch, “they’re thrown into this incredibly stressful situation, and preparing meals goes out the window, even though that’s when they need healthy food the most.”

Seven months later, Couch launched Ceres with a small group of teen volunteers cooking out of a church kitchen one afternoon a week. Since then, with the help of RSF Social Finance, Ceres has expanded to serve more than 90,000 meals this year alone to seriously ill people in Sonoma and Marin counties.

Inspiration

Though Couch’s business model is straightforward—teaching teens to cook for seriously ill people and their families—her hope is to change the entire food system, from how food is grown and prepared to an understanding of its role in wellness. “The way we feed ourselves is fundamental to our well-being and connectedness to the world,” she says.

Photo courtesy of Ceres

Ceres client, Robert Karcie.

The organization’s premise is that food has healing power. Many clients come to Ceres at the suggestion of a doctor, friend, or former client. After an initial screening, they receive up to 24 weeks of organic, whole-food meals delivered to their door, usually free. Because many of the families are low income (82 percent have household incomes below $45,000), it’s often the first time they’ve eaten a whole-foods diet. This is an opportunity, says Couch, to change eating patterns for life. She says clients often tell Ceres, “I thought I was eating healthy, having Cheerios and skim milk for breakfast, but now I’m having a kale smoothie.”

The teens also get healthier. “Ceres lets kids know that they’re a vital part of the community and that they matter,” says Ted Levinson, senior director of lending at RSF Social Finance. They also learn to eat more fruits and vegetables and prepare homemade foods. “If we don’t know how to prepare our own food,” says Couch, “we’re really pawns in a food system that, for the most part, doesn’t have our best interests at heart.”

Photo courtesy of Ceres

Innovation

Ceres’ greatest challenge has been that there are more ailing bodies in Sonoma County alone than one small non-profit can properly nourish. Couch has doggedly pursued funding, and today has a funding base that includes thousands of individual donors and dozens of foundation and corporate partners, many in the organic food industry. Whole Foods Market provides cash support and in-kind food donations, and also sells 12 Ceres-branded salads in their Northern California stores. One dollar from each pint goes to the non-profit.

But by 2010, Ceres (which is named after the Roman goddess of agriculture) still hadn’t found a permanent home. It had 12 staff members, no office space, and was using a catering kitchen available only two days a week. So when the town of Sebastopol offered Couch a building late that summer, she jumped—but it was a run-down, 3,200-square-foot modular facility badly in need of renovation.

Couch approached RSF Social Finance in early 2011 with a financing request that required some creativity: the property was zoned for community use and would be difficult to resell if Ceres were to default. RSF asked Couch to assemble a small guarantee community to support the loan. She did so, and in 2012, RSF lent her $340,000, enabling Ceres to purchase the building and pay back a donor who had contributed funds for an extensive kitchen remodel.

Photo courtesy of Ceres

“It was kind of a no-brainer to have RSF come on as our lender,” says Couch. “I’ve always been interested in developing collaborative relationships with organizations that share our values.”

The new building provided not only a commercial kitchen but also a place to hold meetings and training sessions. Couch has already helped nine communities—including Syracuse, New York, and Nashville—launch similar programs. Ceres’ affiliation with RSF has also helped Couch connect with like-minded thinkers as she tries to influence healthcare policy. She’s currently working with several Sonoma County hospitals to design a pilot program to measure the effects of Ceres meals on reducing readmission rates. “It costs Ceres $476 to provide eight weeks of meals to someone, but one readmission costs the hospital $6,000,” says Couch.

Impact

Photo courtesy of CeresAs a result of RSF’s investment, Ceres has grown rapidly. Its staff increased from 12 to 23 people and it now has two locations in Sonoma and one in Marin. The organization has gone from feeding 28 families in 2007 to feeding 513 in 2014, and, during the same period, from 21 teen volunteers annually to 410. Estimates for 2015 are serving 640 families and 475 teen volunteers.

The organization is eyeing two possible new branches, including one at a soon-to-open Sonoma County facility for kids coming out of foster care, and another at a site in Oakland. Ceres also continues to collaborate with communities around the country. “We look at our work as using a meal delivery program to create healthier food systems, community systems, and healthcare systems,” says Couch. “We want to bring all the pieces together because, really, it’s all one.”

For more information about Ceres, go to: http://www.ceresproject.org/

The Next 25 Social Enterprise Stars: Education & the Arts

March 16, 2015

RSF_SocentStarsLOGO-300dpi (2)As part of our campaign to add 25 social enterprise stars to our loan portfolio over the next year, we’re looking for new borrowers in all three of our focus areas: Food & Agriculture, Education & the Arts, and Ecological Stewardship. These are broad categories, but because it’s not always obvious whether an enterprise is a fit for us we’ll delve into what we look for in each area over the next three months. Up this month: Education & the Arts.

We support many different types of enterprises under this umbrella, including:

Marimi common mealOne of our current borrowers provides a great example in the last category: Camphill Communities California (CCC), a Santa Cruz supportive life-sharing community where volunteer caregivers and individuals with developmental disabilities live and work in a cooperative and rewarding environment. CCC offers everyone the opportunity to learn, grow, and live up to their highest aspirations. CCC is a model and inspiration for how to address the needs of the whole person: body, soul, and spirit. RSF has provided CCC with mortgage and construction loans to expand and improve their facilities.

If you know any enterprises in any of our focus areas that could expand their impact with greater access to capital, send them to Wanted: Social Enterprise Stars. General criteria for borrowers includes:

  • Incorporated in the US or Canada
  • Funding needs ranging from $200,000 to $5 million
  • Enterprise is profitable, or can demonstrate a clear path to profitability in 12 months
  • Annual revenue of $1 million or greater

Please pass it on to your network! The more #SocentStars posts there are on Twitter, Facebook, and LinkedIn, the more social enterprises we can reach and assist. Many thanks to all those who’ve been tweeting and posting so far.

Here are a few post ideas:

Are you an arts or edu enterprise looking for #funding? @RSFSocFinance has loans for #socents: bit.ly/1tH0ytE #SocentStars

Does your #socent need capital to grow? @RSFSocFinance provides loans up to $5M: bit.ly/1tH0ytE #SocentStars

@RSFSocFinance is #funding the next 25 #SocentStars. See if you qualify: bit.ly/1tH0ytE #socent

Foundation For the Challenged

March 10, 2015

This article was originally published in the Winter 2015 RSF Quarterly.

By Meredith Storton, Client Development Associate

Over seven million Americans have an intellectual or developmental disability. These individuals are some of the most marginalized and underserved members in our society. They face poverty, unemployment, and discrimination, all of which combined make finding affordable housing a particular challenge. Fortunately, there are housing options that provide independence, dignity, and a sense of community to the developmentally disabled: community-based living. Foundation for the Challenged [FFC] is a non-profit that is working hard to meet the high demands for community-based living by making homes available for the developmentally disabled to rent. Tucked away in a suburb of Columbus, Ohio, FFC provides homes to 350 developmentally disabled individuals in 94 residences located across 11 states. With support from RSF’s financing, FFC has been able to weather the 2008 housing crash and continue on its mission to buy homes for the developmentally disabled, positioning themselves as a social enterprise helping those with the most need.

Residents of FFC housing work on an arts & crafts project. Courtesy FFC.

Residents of FFC housing work on an arts & crafts project. Courtesy FFC.

Inspiration

Fran Wesseling has been at the helm of this organization since 2002, when FFC started buying homes for the developmentally disabled to rent. Wesseling started her career in nursing, but after an interaction with a developmentally disabled person she decided she wanted to focus all of her energy towards helping that community. Soon thereafter, she started working at Alternative Residences, Inc. [ARI], the predecessor organization to FFC. ARI was a non-profit that focused on managing group homes and providing direct services to the developmentally disabled. These support services include taking residents to the grocery store, helping them dress, and preparing dinner for them. There are many service providers like ARI, however, and ARI’s board, led by Wesseling, believed they could do something else – something more impactful for the developmentally disabled. So, in 2002, ARI sold its service provider contracts to other providers and became Foundation for the Challenged. Their goal became to improve the quality of life for the developmentally disabled by encouraging community inclusion and providing a place for them to live affordably and comfortably. Buying houses and starting a charitable program, it turns out, enables FFC to do just that.

Innovation

Developmentally disabled Americans receive monthly financial support from the Supplemental Security Income (SSI) program. They use a portion of their SSI funds to pay rent. FFC is the landlord in the homes they own. They use the rental income to pay down their mortgages and to support their slim operations (FFC has two full-time and two part-time employees). Because FFC is not providing the at-home services, the separation of service provider and landlord roles ensures that the residents are treated fairly. FFC is a compassionate landlord that understands the various needs their residents have and the challenges they face. They provide the residents with the opportunity to live with other developmentally disabled individuals in a place where they feel at home. This integration into the wider community is better for the residents and better for society as a whole. As Kathy Streblo, FFC’s Associate Director of Housing Operations, sees it, the benefits of community living are significant, “The developmentally disabled are able to enjoy all the things that you and I are able to enjoy about living in a community – choosing roommates, picking where you live, and what activities you do.”

The need for real estate for the developmentally disabled is enormous. For decades, many developmentally disabled people, regardless of their disability level, were living in state-run institutions segregated from society and stripped of their independence. In 1999, a landmark Supreme Court decision declared that the segregation of people with disabilities is a form of unlawful discrimination under the Americans with Disabilities Act. As a result of the so-called Olmstead decision, community-based living became the desired solution to institutional settings. Now, however, there is a new problem – a shortage of homes available for the developmentally disabled to rent. Tens of thousands of developmentally disabled people linger on waitlists for years for homes like those FFC owns. In the meantime, they live with aging caregivers or they remain in institutions. FFC does not have control over the state-run waitlists, but they are attempting to fulfill the need one home at a time.

When FFC started purchasing homes, they were able to acquire them quickly using the affordable housing financing available through Fannie Mae and Freddie Mac. Then in 2008, the housing market crashed. Affordable housing financing dried up and suddenly instead of making 10% down payments on a new home, FFC was required to put down 30%. They were forced to hunt for state and federal grant dollars to help supplement their purchases. Even then, the budget was tight and their ability to buy houses slowed significantly.

FFC went to several small lenders that specialized in housing for the developmentally disabled, but they weren’t able to provide a loan that was large enough to cover FFC’s needs. In 2010, Wesseling, still on the hunt for financing options, met RSF Senior Director of Lending Ted Levinson at a Social Enterprise Alliance meeting. Wesseling recalls, “there was synergy in that RSF valued what we were doing and the mission that we had when other banks didn’t care what we were doing and the social impact we were having.” RSF was able to provide FFC with a $3.9MM mortgage loan, which brought their interest rates down and enabled them to use the savings from the refinanced mortgages to do much needed repairs and improvements on several homes. Levinson is grateful RSF was able to support the critical need FFC is addressing. He explains, “RSF shares the view that every person, regardless of ability or disability, deserves to lead a full life. This includes their emotional, social, and spiritual needs. A permanent place to live – one that a person can truly consider a home – is a critical first step in achieving this full life.”

Impact

Though they provide much needed housing for 350 individuals, FFC felt the need to give back in a more direct way to the community they work with. In 2006, FFC launched the Community Living Fund that supports the developmentally disabled by providing basic living necessities such as wheelchair ramps and walking devices. Individuals have the opportunity to apply for up to $1,000, which goes a long way for someone living on SSI payments. One of Wesseling’s favorite stories is about a grant that was used to pave a bike trail in a rural area so that a boy with down-syndrome could safely ride his bike near his home. FFC has provided over $130,000 in grants to individuals since the fund started in 2006.

In mid-November, FFC held a fundraising event to expand and endow the newly named Wesseling Community Living Fund so that even when the organization faces financial hardships like the 2008 housing crash, they’re able to give back. So far they’ve raised 70% of their fundraising goal for the fund and the donations are continuing to come in. The event doubled as a retirement celebration for Wesseling. After serving the organization for 28 years, she is stepping down and in her stead Kathy Streblo will become the Executive Director. They have plans in place for a smooth transition. Over the next few years, FFC will focus on growth in the markets they’re already in – states like Ohio, Tennessee, Iowa, Florida and Washington – where they already understand the state regulations and have vetted the service providers. They hope that they’ll be able to keep serving those most in need for a long time to come. RSF hopes to keep supporting FFC’s work and other like-minded organizations that are providing dignity, stability, and independence to people with developmental disabilities.

Growth Financing for Social Enterprises: 5 Options and How to Make Them Work for You

February 19, 2015

Originally published on TriplePundit

A regional food hub funded by RSF, Common Market in Philadelphia has grown rapidly through a series of integrated capital financings.

A regional food hub funded by RSF, Common Market in Philadelphia has grown rapidly through a series of integrated capital financings.

by Don Shaffer

Social entrepreneurs seeking growth funding often get caught up in the culture of venture capital: They position their enterprise as a rocket business, look for a miracle angel investor and start giving away equity. They’re not thinking about how the investors will get their money back, or whether other options might better support their goals.

At the same time, conventional funders often see social enterprises as too risky or too hard to understand, especially if they’re building a new supply chain, sacrificing some profit to maximize social value or using a hybrid business model.

Fortunately, there are ways around traps and barriers like these for social enterprises that are past the bootstrapping stage. First, here are a few general guidelines:

  • Before you seek financing, define what you ultimately want to do. Are you planning to sell this business? Do you see it as a legacy business that you’re building to last? A long-term, slow-growth plan won’t nix your chances for funding; you’ll just need to look at different kinds of funding.
  • Seek out funders that focus on social enterprises and that have expertise in your field. They’ll have a better understanding of the market opportunity, and they won’t expect your business to compromise its mission in order to grow.
  • Expect a funder to add value beyond financing, such as connections to a network of advisors or technical assistance.

Below are the ins and outs of five funding options — some top of mind, and some you may not have considered.

1. Debt financing

Borrowing money over a defined period of time — from a bank or an alternative lending institution — allows you to maintain your ownership position and thus retain control of the enterprise. This is a good option for enterprises that have the cash flow to make payments and the assets to secure the debt.

Debt financing takes a variety of forms, each with its own underwriting standards: working capital lines of credit, asset-based loans (secured by account receivables, inventory and other assets), equipment loans, mortgages and so on. You will want to seek advice on the best structure. The key questions to ask at the outset are: How will I be able to pay back the loan, and what is the lender likely to do if things go sideways?

Read the full article here

Don Shaffer is President & CEO at RSF Social Finance

The Next 25 Social Enterprise Stars: How to Spot One

February 17, 2015

RSF_SocentStarsLOGO-300dpi (2)We’re happy to report that our campaign to add 25 social enterprise stars to our loan portfolio over the next year is generating referrals. It’s also inspired some of our friends to ask, “How would I know a social enterprise star when I see one?”

Excellent question. When we say “social enterprise” we mean a for-profit or non-profit venture that generates revenue not as an end, but as a means toward creating significant social or ecological benefits. Just giving profits to good causes doesn’t qualify; the mission must be embedded in the organization. A “star,” by our campaign definition, is an enterprise that’s been in operation for at least three years and has annual revenue of over $1 million (signs that its leaders have shown the ability to stick with it and grow), advocates for or demonstrates social change in its field, and has the potential to achieve significant positive impact through its own operations and as a model. We also have specific loan criteria; see the Social Enterprise Stars campaign page for details.

One of our newest borrowers provides a great example: Hudson Valley Harvest. This for-profit food hub based in Kingston, New York, provides efficient distribution services that connect small and midsize farms in upstate New York with wholesale food buyers in New York City and surrounding areas. This kind of distribution link is essential to economic success for farmers and to access to fresh food for urban communities. Hudson Valley Harvest, founded in 2011 by a farmer and three friends who met at farmers markets, also buys and processes surplus products for sale under its own label, with the farm source identified. The new line of credit from RSF will help support the company’s rapid sales growth and related inventory expansion.

Know any enterprises that fit the star profile? Send them to Wanted: Social Enterprise Stars.

And please keep spreading the word! The more #SocentStars posts there are on Twitter, Facebook, and LinkedIn, the more social enterprises we can reach and assist. Many thanks to those who were active last month, including 3BL Media, Just Means, SOCAP, Social Earth, Invest with Values, Robert Simons, Green Reads, Karen Ammann, Business for a Fair Minimum Wage, and Finance Weekly.

Here are a few post ideas:

@RSFSocFinance has loans to spare for #socents. See if you could be one of the next 25 #SocentStars: bit.ly/1tH0ytE

Are you a #socent looking to expand your impact? @RSFSocFinance has loans up to $5M: bit.ly/1tH0ytE #SocentStars

@RSFSocFinance is seeking the next 25 #SocentStars. Send candidates here: bit.ly/1tH0ytE #socent

RSF Makes a Loan to Imagine Supported Living Services

February 10, 2015

Logo from FBRSF is pleased to announce a loan to Imagine Supported Living Services, a non-profit organization providing services to adults within Santa Cruz County living with developmental disabilities. RSF financing allowed Imagine to acquire two buildings which will house their administrative headquarters and a community center.

Imagine was founded in 2002 with a mission to empower people with developmental disabilities through service and advocacy. Imagine works cooperatively with individuals and other service agencies to increase access and reduce the barriers which prevent people with disabilities from full inclusion in our society.

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Imagine Client

Imagine offers services which acknowledge an individual’s strengths and abilities, and supports that individual in planning a life that they find personally rewarding. At Imagine, each person designs and directs their own services to accomplish the goals they set for themselves.

“Imagine focuses on the abilities of their clients, not their disabilities,” says Ted Levinson, Senior Director of Lending at RSF. “Similar to our long-history of work with Camphill Communities, it’s this approach that makes Imagine a true leader in the supported living services industry.”

Imagine finds and secures housing while providing on-going and long-term direct staff support for personal care and tasks, money management, facilitation of social and recreational activities, and medical management. Each month, Imagine provides 11,000 service hours to clients throughout Santa Cruz County.

In addition to direct services, Imagine is also engaged in community-building, advocacy, and collaboration. Their Resource Library offers free check out of communication devices, training materials, therapeutic devices, and other specialized resources to anyone living in Santa Cruz County. Imagine organizes an annual community event which celebrates the diversity and abilities of its community members and is attended by over 300 people. Imagine has mentored several other agencies and has led a collaborative initiative which brings together all the providers in the region in order to increase the quality of services and have the opportunity to share resources and best practices.

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Imagine Clients

RSF financing enabled Imagine to acquire real estate which will house its administrative offices and a community center. The new location provides more space and is more accessible to clients, some of whom visit the offices by public transportation.

“As an agency that seeks to serve individuals with developmental disabilities throughout their lives, we have community integration as a core value and sustainability as an imperative,” says Doug Pascover, Executive Director of Imagine. “The loan we received from RSF helps us plan our finances toward the same far horizon to which we plan our services. It helps us to be the kind of neighbors in our community that we ask our neighbors to be for the people we serve. Working with a lender as mission-driven as we are makes our new financing relationship a real partnership according to our values.”

About Imagine Supported Living Services

Founded in 2002, Imagine is a non-profit organization providing supported living services to adults with developmental disabilities in Santa Cruz County. Imagine’s mission is to empower people with developmental disabilities through service and advocacy. Imagine works cooperatively with individuals and other service agencies to increase access and reduce the barriers which exclude people with disabilities from full inclusion in our society. http://imaginesls.org/

Announcing the 2014-2015 RSF Social Impact Fellows

December 19, 2014

RSF Social Finance is pleased to announce the 2014-2015 RSF Social Impact Fellows. This cohort marks RSF’s fifth year of the fellowship program, and the first year professionals have been invited to participate in addition to graduate students.

The Social Impact Fellowship is designed to support the development of the next generation of inspiring leaders in the social finance field. RSF also seeks to bring a fresh perspective to the organization’s business development activities.

Fellows will work closely with RSF’s Lending Team to identify prospective borrowers, conduct due diligence, and structure commercial loans that will become part of RSF’s $85 million Social Enterprise Lending portfolio. The Fellowship is an extension of RSF’s mission to build the field of social finance. Working with graduate students and professionals across disciplines and geographic areas not only allows RSF to build a network of advocates for the industry, it also spreads the work of social finance into places where the concept of values-aligned investing is still very nascent.

Twenty-seven fellows have completed the program since it began in 2010. Nearly half are now successfully working in the social finance field at organizations like Village Capital, Impact Assets, and OPIC.

“I know first-hand, this is an incredibly valuable experience,” said Kate Danaher, Senior Lending Associate at RSF. Danaher was a part of the first cohort of Fellows and now runs the program. “These fellows have the opportunity to identify and engage with pioneering entrepreneurs who are at the forefront of solving pressing social and environmental problems.”

2014-2015 Social Impact Fellows 
                                                                                                                                             

Lisa Fisher is the Founder and President of an independent consulting firm focused on cultivating vision, authenticity, and sustainability in individuals, organizations, and communities with an emphasis on social responsibility and social impact. For 17 years, Fisher has served nationally and internationally as a coach, a facilitator, and an educational, organizational, and development consultant for both for-profit and non-profit organizations. She is a graduate of Wellesley College and holds a Master of Arts in Teaching degree and a Master of Arts in Leadership and Organizational Development. She is currently completing a Master of Arts in Psychology and a PhD in Organizational Systems with a focus on catalytic philanthropy and social enterprise. Fisher is a certified yoga instructor, a former Junior Olympic alpine ski racer, and, most importantly, a mother. She loves to play in the glorious outdoors as often as possible.

 

Nakul Kadaba is currently a Project Associate at the Small-Scale Sustainable Infrastructure Development Fund and helps manage their projects and other initiatives in South and Southeast Asia. He has experience in innovative finance, enterprise development, and poverty alleviation for several organizations. He holds a Masters in Public Administration from George Mason University and a Bachelor’s degree from The College of William and Mary. He is based in Cambridge, Massachusetts and is excited to add to the social finance conversation.

 

Sam.Kressler_Head Shot CroppedSam Kressler is the Executive Chef of Bom Dia Market, a neighborhood gourmet market in Noe Valley. Before joining Bom Dia, Sam ran Stir Consulting, a consulting agency that focused on menu and product development for hospitality and food businesses. Sam holds a culinary degree from the French Culinary Institute and a Masters in Food Systems from NYU. He is a founder of Slow Money NYC as well as a monthly happy hour that brings together Bay Area professionals across the sustainable food and agriculture industry.

 

Dave Hanold is a loan officer at NYBDC, a mission-based lender in New York State. Dave leads a team of community development lenders specializing in SBA loans of $25,000 and upward to businesses that are not eligible for traditional bank financing, with a recent focus on food and beverage producers. After graduating from Macalester College in 2009, he spent a year in the Americorps NCCC program, performing community service projects across the Midwest. When he’s not evaluating balance sheets, Dave’s probably at the climbing gym or playing soccer!

 

Stu Fram currently works at the High Meadows Fund, an environmental foundation in Vermont, where he supports the administration of the Fund’s mission spending budget. Prior to joining High Meadows, Stu received a BA in Human Ecology from Middlebury College, where he co-founded an organization that works to improve the amount of local and sustainable options available in the dining halls. While studying abroad in Madagascar, Stu received a grant to study local and institutional perceptions of integrated conservation and development projects in one of the country’s national parks. He resides in Burlington, VT.

RSF Makes a Loan to the Pine Forest School

December 15, 2014

PFS Logo.RSF is pleased to announce a new loan to the Pine Forest School (PFS). RSF financing will help fund the acquisition and renovation of a new campus property that will increase the community’s access to education inspired by Waldorf principles.

Celebrating their 20th anniversary this school year, Pine Forest School is a publicly funded, Pre-8 grade school in Flagstaff, Arizona using a curriculum and methodology inspired by Waldorf Education. PFS was founded in 1995 as a K-4 public school, and was originally funded by the Arizona State Department of Education. Through collaborative efforts by interested Flagstaff families and enthusiastic, trained Waldorf educators and other teachers, education inspired by Rudolf Steiner’s ideas has become a reality in Northern Arizona. Over the following five years the school grew to be a complete K-8 program.

Michael Heffernan, PFS Executive Director, standing in front of the school's new property. Photo courtesy of the Arizona Daily Sun.

Michael Heffernan, PFS Executive Director, stands in front of the school’s new property. Photo courtesy of the Arizona Daily Sun.

The school currently operates on a 1.5 acre campus located in a light industrial park area of north Flagstaff. For the past several years the school has been focused on developing resources and community support for a move to a site offering an environment more suited to a school inspired by Waldorf principles, as well as the capacity to embrace a larger community. With the help of RSF financing the school was able to acquire a 3.5 acre property in Sunnyside, one of Flagstaff’s oldest neighborhoods. The school has plans for over $1.4 million in renovations, and hopes to open the new campus for the 2015-2016 school year.

“Pine Forest School and RSF Social Finance have known each other for many years,” says RSF Senior Lending Associate, Reed Mayfield. “I first visited the school in the spring of 2011 when they were seeking to build out new facilities – it was not the right time for a move. But now as the school and community have grown, we are proud to co-create a path to the new space. Talk about long-term relationships!”

The curriculum inspired by Waldorf Education that Pine Forest School follows uses a child development model that nurtures and embraces learning for the head, heart, and hands of each student. With nearly 250 students currently enrolled, PFS offers main lesson blocks intertwined with Southwestern culture, tradition, and history. Special classes and extra-curricular activities include German, Spanish, eurythmy, woodwork, handwork, art, archery, chess, basketball, and volleyball. The school is led by a passionate group of teachers and administrators, and seeks to facilitate strong family and community involvement through events, volunteer opportunities, and communication.

Pine Forest School is currently the only public charter school in Flagstaff inspired by Waldorf principles. PFS believes all children should have access to education inspired by Waldorf principles, regardless of their financial resources, and hope that the move to a new location will provide greater access to underserved children. The new site is more centrally located in Flagstaff, and is surrounded by several different neighborhoods and communities of people from varying ethnic, cultural, and socioeconomic backgrounds.

“I am very excited that PFS has been blessed with the opportunity to expand our enrollment and bring this form of education to more children and families, and move to a location which is in the heart of Flagstaff, surrounded by neighborhoods, other schools, public libraries, city parks and national forest,” says PFS Executive Director Michael Heffernan. “We will be able to build our program with the larger facilities and more acreage, and the possibilities for community collaboration are many.  RSF is the perfect organization to partner with as their mission for social finance is aligned with our mission for excellence in education.”

Video courtesy of Pine Forest School:

About Pine Forest School

Founded in 1995, Pine Forest School (PFS) is the only public charter school in Flagstaff, Arizona using a curriculum and methodology inspired by Waldorf Education. PFS provides an education of the whole child, with a curriculum that is a truly comprehensive balance of academic, practical, and artistic activities. The school is dedicated to helping individuals achieve their full intellectual, emotional, and physical potential, in a sustainable and beautiful environment that reinforces integrity, understanding, respect, and trust.  www.pineforestschool.org

Spreading the Word About the Next 25 Social Enterprise Stars

December 12, 2014

Word continues to spread about our campaign to add 25 social enterprise stars to our loan portfolio over the next year—over 1700 enterprises and referrers had checked out our campaign page by the end of November. Now it’s time to give thanks.

Thanks to 3BL Media, B Lab, Justmeans, SOCAP, Social Earth, and all of our other partners and friends who have been talking about the 25 #socentstars campaign on Twitter and elsewhere.

Thanks also to Alissa Sears, Amanda Kemp, Jocelyn Demirbag, and others we’ve reached out to who have dug through their contacts and introduced us to some great candidates.

And thanks to everyone who suggested potential stars in comments on our previous blog posts. The lending team is following up on all these suggestions. Keep them coming!

Our campaign is still going strong. We’re seeking for-profit or non-profit enterprises that are doing groundbreaking work in food and agriculture, education and the arts, or ecological stewardship—and could significantly expand their impact with a loan of about $200,000 to $5 million. (See the Social Enterprise Stars campaign page for detailed criteria).

To illustrate, here are a couple of examples from our current roster of borrowers:

training program 2 largeDC Central Kitchen is earning growing recognition for its work to create economic opportunity in the food industry for low-income and at-risk communities while addressing issues of food insecurity and food waste. The enterprise’s Meal Distribution program provides 10,000 healthy meals per day to local schools, homeless shelters, and other social service non-profit organizations. All meals are prepared by students and graduates of the Culinary Job Training program for unemployed people, many of whom are homeless, have been incarcerated, or have struggled with addiction. Find out more about DC Central Kitchen in this NPR story.

playworks-stories-playgroundPlayworks provides structured recess in public schools. Its programs improve school climate, reduce bullying, and increase student engagement through play and physical activity. Playworks provides public schools with trained, full-time coaches who use recess and play to support learning, and it provides training in structured recess for educators and youth workers.

Know any loan candidates like these? Please send them to Wanted: Social Enterprise Stars.

And please keep spreading the word! The more #SocentStars posts there are on Twitter, Facebook and LinkedIn, the more social enterprises we can reach and assist. Here are a few post ideas:

RSF_SocentStarsLOGO-for website@RSFSocFinance wants to fund the next 25 #SocentStars. Are you one? Apply: bit.ly/1tH0ytE #socent

Have a breakthrough social enterprise? @RSFSocFinance has #funding for the next 25 #SocentStars: bit.ly/1tH0ytE

Successful #socent with funding woes? See if you qualify for an @RSFSocFinance loan: bit.ly/1tH0ytE #SocentStars

 

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