Circle of Aunts & Uncles
Mission Statement
The Circle of Aunts & Uncles offers low-interest loans and social capital to under-resourced business owners in order to co-create a more equitable, compassionate, sustainable, and vibrant local economy in the Greater Media area. We envision a prosperous local economy that supplies basic needs to the local population, works in harmony with our ecosystem, supports vibrant, joyful, and inclusive community life with business ownership that reflects the demographics of our population.
What is the Circle of Aunts & Uncles?
Our Aunts & Uncles donate money and/or business advice, resources and connections to qualified local applicants with demonstrated need. The money donated by our team goes into a fund managed by a local CDFI (Community Development Financial Institution) which then provides a low-interest loans. The Circle intentionally creates trusting relationships between investors and borrowers, in the spirit of actual aunts and uncles, enabling investors to understand the true needs of the business and provide advice and contacts.
The intention of the Circle is to help strengthen local economies, providing needed services, increasing the community’s wealth by keeping money and jobs local, building a more diverse and inclusive business culture, and supporting environmentally sustainable and socially just business practices.
RESOURCE LINKS
Impact Highlights
Our first loan was to fund an international symposium for a woman-owned business educating landscapers in more sustainable gardening practices. The symposium increased their visibility and their business opportunities.
The next loan was to the owner of an online Chester radio station, CMPRadio.net, who wanted to purchase additional equipment that he could take into local schools and teach students how to create their own podcasts. He was approved for a second loan for wi-fi equipment to interview people at the local ward level and find out what their needs and issues are.
Our next two loans were to two other Chester businesses. One was to a clothing, health, and religious items store on Avenue of the States that supports local entrepreneurs and returning citizens. The loan allowed him to run his store more efficiently by upgrading his financial and data management equipment. The other is a Chester restaurant and catering business that wanted to move to a bigger location and double their business capability.
Contact
Sari Steuber
Stewardship Group Member
TTGM Partnerships
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TTGM Partnerships