Salt River is about encouraging people to go for their most empowered “YES!”
We love the zero-interest mini-loan concept (remember the Bangladeshi “banker to the poor”?) and have always wondered how to make it happen more broadly in North America.
The “social profit” investment fund (SPIF) is the outcome.
Here is an outline of this fantasy:
- Investors make gifts to SPIF (this is taxable income for SRP and not tax deductible for the investor, because we are a for-profit company)
- SRP artists and authors can apply for a mini-loan to keep their project moving towards publication
- When their book is on sale, they repay the loan with funds generated from sales or from other sources of self-generated income
We got the idea for this today and we’ve already been contacted by our first SPIF investor offering $1,000. So the idea is off to a great start. Now we need to think the whole concept through carefully. Perhaps we’ll experiment in a small way before opening it up to other investors. More on this as it evolves!
SALT RIVER MEANDERINGS by AG et al is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.