SVS supports citizen-led community ownership project ‘Have it together cooperative’ (Jun 2021)

‘Have it together cooperative’ which has 340 citizen members, mobilized capitals through crowdfunding platforms to purchase a complex that can accommodate local social economy organizations and citizens in Mapo-gu, Seoul. SVS provided a matching fund to the local community ownership project. It is SVS’ third investments in community ownership initiatives (previous investments were 1897Pub in Mokpo, South Jeolla province, and Purun bike-sharing in Jeju province.  

:: Related SVS portfolio

Crowdfunding matching loans for local creators

A local creator is a company that combines a variety of local resources, geographical factors, industrial characteristics with innovative ideas to creates new values and promotes the revitalization of the local economy and regional regeneration. SVS supports local creators in establishing themselves as agents that enhance local sustainability and contributes to the expansion of the diversity of local social economy ecosystems.

The ‘Crowdfunding Matching Loans for Local Creators’ is an impact loan program in which the loan-type funds raised through the impact investment (P2P) crowdfunding platform of BPLUS is matched by the local impact fund jointly financed by SVS and IFK Impact Finance. It has provided loans of up to KRW 50 million with an annual interest rate of 3-4% to local creators that create and implement changes and innovation in the region.

Impact

SVS identifies and supports startups using creativity and innovation to solve various problems in the region, and contributes to the revitalizing of the local economy. SVS provides specialized funds to local creators by facilitating cooperation between SFIs in the private sector, and supports the sustainable growth and performance of the enterprises through business acceleration and other supports.

Type : Investment 

Term : 2 years (August 2020-August 2022)

SVS commitment : KRW 100 million

Total commitment : KRW 265 million

Intermediary : Impact Finance Korea, BPLUS