Get Interest Paid in Cheese and Cider: The Surprising Benefits of Local Lending, pt. 2 (Video)
Image credit: Peak Moment TV
Given the accusations that Wall Street kills jobs and planet, it's little wonder that interest in local investing and Slow Money is on the rise. Besides offering an opportunity to support businesses with shared values (like restaurants that give their food away for free), and create local, green economic stimulus, many local investors are finding they get pretty reasonable returns on their money. And some, like the folks in this video, even get paid in cheese and cider.
Local investing is, of course, nothing new. But as we watch the roller coaster ups and downs of the stock market, many people are rediscovering the reassurance of knowing your money is directly benefiting the community around you. And while there are plenty of formal institutions that can help you find a local or ethical home for your money, it doesn't have to get over complicated.
Local Investment Opportunities Network (LION) in Port Townsend, WA is a classic case in point. Acting as a clearing house that puts potential investors in touch with potential borrowers, what is really encouraging about this initiative is how little there really is to it. Investing locally is not about complex formulas or magic bells and whistles. It's simply a case of putting those with resources in touch with those who have opportunities to utilize those resources.
And because the connections are on a person-to-person scale, there are ample opportunities to think beyond monetary rewards. Given the sorry state of many of our 401ks of late, who could turn down the offer of interest that is paid in gourmet cheese and quality cider?