Crowd-Finance Your Favorite Local Foodie Businesses
Credibles is a service for funding small and sustainable food-related companies, where re-payment is in-kind with edible credits.
“Credibles” is a new type of investment model that offers an alternative way to invest in the local food system. The service, offered by Slow Money and powered by Clearbon, benefits small, sustainable food-related businesses like farms, restaurants and artisanal stores. Customers offer crowd-funding and are paid back in-kind, with edible credits, or “Credibles.” The NY Times writes:
The idea for Credibles arose from the Slow Money movement, which focuses on finding new sources of capital for small farms and other food enterprises. Its larger goals are to strengthen and promote sustainable, local food systems and move away from corporate agribusiness.
This crowd-financing model allows those who invest their money to use their edible credits for a wide variety of products, from eggs to ice-cream, and they are also offered bonuses for their contributions. Gelateria Naia offers a 10% bonus for a $250 contribution, so that would be $275 worth of gelato. The more a customer invests, the better the perks get, and these include invites for tasting parties or a custom-designed gallon of their favorite flavor.