I met John Kuhry many years ago.  He was running a small Community Development Financial Institution that invests in Mendocino and Lake County in California.  He was passionate about creating opportunities for more people in his region to invest locally.  So, I helped him and his team at the Economic Development and Financing Corporation (EDFC) launch a Direct Public Offering.

They registered the offering with the state of California so that they could publicly advertise the offering and anyone could invest.  They offered a promissory note which pays 2% interest annually.  The minimum investment was $1,000.

EDFC raised over $350,000 which they invested in a start-up wool and fiber mill in Mendocino County.  The mill will soon open its doors and will produce 100% locally sourced, processed, and dyed yarn.  For details, check out this local news story.