What is reSET?
reSET is a 501(c)3 organization with a mission to promote,
preserve and protect social enterprise, and to help entrepreneurs leverage the power of business to create public good. Strategically, reSET’s goal is to make Connecticut a national leader in social enterprise by offering social entrepreneurs educational and
support programs, work space, access to loans through the Social Enterprise Investment Fund, and other services to help launch and grow their businesses. reSET supports legislation to promote social enterprise, and has also convened conferences at Connecticut
colleges and universities, inspiring them to develop social enterprise offerings within their business curricula.
What is the Social Enterprise Investment Fund?
The Social Enterprise Investment Fund (SEIF) is a limited liability company wholly owned
by reSET, the Social Enterprise Trust. SEIF’s mission is to provide working
investment capital to early stage and more developed social enterprises. This capital will enable the social enterprises to establish a clear plan for building a sustainable, self-sufficient business model, and raise third party investment capital if necessary.
SEIF's principal will be specifically invested in early stage and more developed social enterprises in the form of patient debt (long terms loans, with low interest rates). As social entrepreneurs who have received funding from SEIF pay back their loans, SEIF
will re-invest the funds in new social enterprises, creating a continuous cycle of support and growth in Connecticut's social enterprise sector.
Why is reSET Launching the SEIF?
By establishing an investment fund, reSET is taking on the challenge of connecting social entrepreneurs directly with
funding sources. reSET’s suite of programs provides education and support to prospective and early-stage social entrepreneurs, and prepares new businesses to develop and strengthen their business plans and to seek investment. The SEIF will provide startup
and growth stages social enterprises who are ready to scale with the capital they need to start developing and/or expand their businesses.
How It Works
SEIF intends to make loans primarily to social enterprises. The Fund may also elect to partner its capital with that of other third parties to leverage its investment, and support social entrepreneurs who are ready for a higher level of capital investment.
Who Gets Funded?
The Fund’s principal will be invested in early and growth-stage social enterprises. Specifically, companies like:
Christopher
Brechlin—Blueprint for a Dream is helping nonprofits use data more effectively and affordably by making it easier for them to map, analyze, and communicate their social impact. They believe businesses can use data from nonprofits, government,
and businesses to build vibrant and healthy communities
Karen
Pace – Peacebar is a healthy, tasty and calming nutrition bar. Peacebar helps people make peace with their body, mind and spirit, which helps create peaceful families, peaceful communities and a peaceful world. They customize bars for the community
as a healthy and tasty alternative to cookie and candy fundraising programs.
Charlotte Creech—Combat2Career, provides a web-based portal to match veterans with
education programs and job opportunities that best suit their skills and needs. The site offers a tailored college search engine, career portal and social networking community, internship and full-time job postings, as well as mentorship opportunities, which
help veterans through the process of making a successful transition from combat 2 college 2 career.
Our Goal
As of August 1st, 2013, SEIF has a balance of $77,000, including cash and written pledges. The short-term goal is to have this balance exceed $100,000, which will provide us with a baseline amount of capital we can use to start supporting social entrepreneurs.
The long-term goal is to have SEIF's balance sheet exceed $1 million in cash and investments.
Why Crowdfunding?
Crowdfunding allows EVERYONE in our community to get directly involved in supporting the growing social enterprise sector here in Connecticut. Whether you're a student who is limited to making a small contribution, or you're a high-net-worth individual with
a large capacity for giving, EVERYONE can get involved and have an impact. Because it's 100% web-based, crowdfunding allows us to connect to an unlimited amount of supporters, and engage with a more diverse group of people who are excited about supporting
Connecticut's burgeoning social enterprise sector.
