VSJF launches new flexible capital fund

first_imgThe Vermont Sustainable Jobs Fund (VSJF) today announced the launch of the VSJF Flexible Capital Fund, L3C. The fund is the first business-lending program in Vermont focused on royalty financing for growth stage businesses ‘ and one of only two such investment-lending programs of its scale in New England.Using investment tools such as royalty financing and subordinated debt, the VSJF Flexible Capital Fund (Flex Fund) provides small businesses in Vermont with access to the flexible risk capital they need to grow – without having to give up their ownership stake in the company.The Flex Fund is also unique in that it is specifically targeted to support Vermont companies in value-added agricultural, forest products, and clean technology sectors.‘Business owners who can’t find the right match of capital to grow their businesses now have one more option available to them ‘ a flexible, higher-risk debt instrument that won’t force an exit strategy in order to pay back the investor,’ said VSJF Flexible Capital Fund President Janice St. Onge. ‘The Flex Fund provides them with the flexible and patient capital they need, and also offers investors a tangible way to support the growth of Vermont’s green business sectors.’The VSJF created the Flex Fund with the help of a $500,000 federal appropriation secured by US Senator Patrick Leahy in 2010. These funds were leveraged to raise $1.2 million from private accredited investors. The fund is seeking to raise another $2.3 million. When fully capitalized, the VSJF Flexible Capital Fund will have $4 million to invest in projects that benefit Vermont.Current accredited investors in the Flex Fund include foundations, Vermont organizations and private individuals who are looking for ways to invest locally in the Vermont community.‘This isn’t your average low-cost loan, but we’re cheaper than equity,’ said St. Onge. ‘Until now, flexible risk capital at a Vermont scale has been out of reach for many of our small businesses ‘ specifically those in our natural resource and clean technology sectors. The Flex Fund is filling a critical gap in their financing options. They need more choices of flexible capital across the risk continuum to grow and prosper, and now they’ll finally have access to it.’Businesses receiving capital through the Flex Fund also have the added advantage of instant access to the networks, expertise, mentoring services and technical assistance programs of the Vermont Sustainable Jobs Fund.‘In that sense, we’re very different from the traditional investment model. We nurture the businesses we lend to every step of the way to ensure a positive outcome – providing the strategic counsel, mentoring and critical infrastructure support that entrepreneurs really need as they grow their businesses.’‘When we were looking for growth capital a few years ago there was nothing like the Flex Fund available,’ said Tom Stearns, founder of High Mowing Seeds in Wolcott. ‘We had to go out ourselves and find the right kind of patient investor that didn’t require us to sell out. It was hard work and took a lot of time and education on our part. The Flex Fund offers another way to link into flexible capital without having to make raising money a full time job!’St. Onge said the VSJF Flexible Capital Fund is now looking for companies in Vermont’s green business sectors who are in need of flexible risk capital, as well as accredited investors who want to see their investments working directly in the Vermont communities they live and work in.About The VSJF Flexible Capital FundThe VSJF Flexible Capital Fund, L3C is a mission-based, low-profit limited liability company, an investment structure that combines the financial advantages of the limited liability company (LLC) with the social advantages of a non-profit entity (501c3) by focusing investment on in socially beneficial, for-profit ventures. It provides near-equity or mezzanine financing to targeted Vermont growth companies in sustainable agriculture and food systems, forest products, renewable energy, waste management and other green economy sectors.The VSJF Flexible Capital Fund is a separate entity created by the Vermont Sustainable Jobs Fund (VSJF), which develops markets for sustainably produced goods and services to create jobs for the next generation of Vermonters. The VSJF provides grants and technical assistance to entrepreneurs, businesses, and farmers, to accelerate the development of Vermont’s green economy.www.vsjf.org/what-we-do/flexible-capital-fund(link is external)last_img read more

Fall in housing loan numbers as new dwellings, investors hit

first_imgRefinancing figures, especially with owner occupiers, dropped in February, latest figures show. Picture: Darren EnglandLATEST figures show measures to crack down on housing loan numbers may be working with borrowing for new dwellings and investors seeing the largest falls.The figures, contained in latest Australian Bureau of Statistics housing finance figures out today, may be an good sign for the Reserve Bank and APRA that their measures to take the heat out of housing are having an impact.$420,000 windfall in 10 monthsHeritage-listed Cliffside apartment building set for auctionGet The Courier-Mail’s Real Estate and Property News in your InboxThe total value of home loans excluding renovations fell -2.7 per cent in February compared to January, according to ABS seasonally adjusted estimates, with investor lending dropping a massive -5.9 per cent, and the biggest fall in numbers (-7.1 per cent) hitting new dwellings.Housing Industry Association senior economist Shane Garrett said it was the second consecutive month of falls.“Even though lending volumes were down in both January and February, they are still inreasonably healthy shape as a result of the number of newly built homes reaching settlement,” he said.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 4:03Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -4:03 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p360p360p240p240pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenBuilding bridges with finance04:04“With housing affordability now such an important issue on the policy radar, it is critical thatMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agosettings remain favourable to the delivery of new housing supply at reasonable cost. In thislight, today’s comments from the Treasurer regarding more investment in affordable housingstock are to be welcomed.”The biggest fall in numbers (-7.1 per cent) hit new dwellings. Picture: Jodie RichterThe figures showed investor loans were valued at $12.923 billion in February, while owner occupied housing was $19.997 billion.The number of loans taken out by owner occupiers was down -0.5 per cent in February 2017 to 54,816 and the number of loans taken out to buy established properties also fell -0.4 per cent.Queensland figures showed that over the month, the number of owner occupied housing commitments fell 3.4 per cent seasonally adjusted, with 379 less buyers in February than there were in January. The figure was still a solid 10,649 buyers in February.A noticeable slowdown in refinancing was also apparent, especially with owner occupiers where the number of refinancing commitments fell (-3.5 per cent) in February compared to a 4.2 per cent rise in January.Excluding refinancing the number of owner occupied dwelling financed rose 1 per cent according to seasonally adjusted estimates, with those constructing new dwellings up 1.7 per cent.last_img read more

Tarragindi home with spectacular city views

first_imgThe home at 46 Effingham St, Tarragindi.This modern masterpiece was built for the growing family. Dan and Kylie Murphy raised three children at 46 Effingham St, Tarragindi and have loved calling the five-bedroom residence home for the past decade.“I wanted a modern house that would be good for the family for 10 years and that’s what we got,” Mr Murphy said. Built in 2007, the home is on a 708sq m block and has 180-degree views. On the ground floor there are four bedrooms with built in robes to three, a bathroom with separate shower and bath, and a media room that opens through bi-fold doors to the backyard. The poolside entertaining area at 46 Effingham St, Tarragindi.On the lower level there is storage space, a 480-bottle wine cellar, 135,000 litres of concealed water storage and a large laundry. Mr Murphy said the property was great for entertaining. “We’d host a Christmas party every year which kept getting bigger and bigger,” he said. The family will miss the Tarragindi area.“Tarragindi has a really strong community that retains some of that old charm of neighbourhoods gone by,” Mr Murphy said. The home is being marketed by Michelle Huston and Mark Kearns of Ray White Moorooka. The living area with city views at 46 Effingham St, TarragindiOutside, there is a covered entertaining area with outdoor kitchen overlooking the inground swimming pool and lawn area. More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020Upstairs there is an open-plan living, dining and kitchen area with bi-fold windows looking out to city views. The kitchen has a butler’s pantry, dumb waiter from the garage, island bench and stainless steel appliances.The master bedroom has a walk-in robe and ensuite with dual basins and there is a third bathroom on this level. A mezzanine level between the ground and second floors includes a L-shaped front veranda and multipurpose room. last_img read more