Prior to 2013, in Michigan it was illegal for the general public to invest in local business, unless your income was over $200k a year, or you owned $2M in assets. People with average incomes could invest in the New York Stock Exchange, but not projects that were happening in their neighborhood.

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About the time crowd-funding became popular, another opportunity sprang up alongside it: crowd-financing. People can pool their money to businesses and projects that they care about - and build local wealth, which is our aim.  Now, through the MILE Act, a Michigan resident can invest up to $10,000 in projects in their neighborhood.

 

Professional investors prioritize getting a 12 to 22% return. Other investors prioritize big returns too, but if the opportunity presents itself and they believe in the business plan, they may be willing to allocate some of their portfolio to investments that may not offer an immediate or particularly hearty return, because they see a benefit to their own community. Lastly, people who aren't familiar with the investing process may have some disposable cash and a not-as-aggressive profit priority and choose to invest because they care about where they are.

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DCIF - Taking it to the Next Level

A DCIF is a Diversified Community Investment Fund. Funds are pooled and professionally managed, but they are earmarked for local projects or business startups - it can be whatever parameters for investing that are outlined in the foundational documents. This criteria is set up by locals!

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