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Fund Profile:
New Hampshire Community Loan Fund (NHCLF)
Vested for Growth - Capital for Business Development (VfG)
Address: 7 Wall Street, Concord, NH 03301
Telephone: (603) 224-6669 ext. 239
Website: http://vestedforgrowth.com
Email: jhamilton@nhclf.org
Key Personnel:
John Hamilton, Director of Enterprise Development
Established: 1983 (NHCLF); 2002 (VfG)
Total Committed Capital: $28.6 million (NHCLF); $3.0 million (VfG).
Amount Invested: $500,000
Geographic Focus: New Hampshire
Background
Vested for Growth (VfG) is a new source of growth capital in New Hampshire offered through the non-profit New Hampshire Community Loan Fund (NHCLF). Over the past 20 years, NHCLF has loaned over $40 million to provide quality housing and jobs and promote economic opportunity for NH families. VfG supports entrepreneurs with long-term perspective and a commitment to growth by sharing responsibility for running the company and sharing profits with the employees. To achieve this goal, VfG provides two tools: 1) Capital investments (debt or equity) up to $500,000 and 2) Peer learning groups to help CEOs successfully apply this business philosophy as a way to grow their companies.
Social Mission
VfG aims to widen the economic winner's circle for employees of its portfolio companies, including those without post-high school education. The two areas of focus are to find new ways to engage employees that boost performance and to develop quality systems that result in continued improvement. To encourage meeting these objectives, the entrepreneur establishes annual mission goals and, if met, is able to reduce the cost of the VfG capital. This provides a "good driver" incentive discount.
Investment Information
VfG invests only in NH-based companies that share the VfG business philosophy, offer a strong growth proposition, and offer a range of jobs, including positions for individuals who do not have post-high school education. VfG invests mainly in early stage companies, during a growth or succession phase. The preferred investment vehicle is debt with revenue participation, but the full range, from debt to straight equity, are eligible depending upon the nature of the investment. Investments will range from $200,000 to $500,000.
Deal Profile
Since VfG's inception in 2002, it has invested $500,000 in Bortech, Inc., a growing company in southwestern New Hampshire.
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