Free Financing Our Foodshed by Carol Peppe Hewitt Page B

high-priced interest payments from going out of our community to a far-away bank. Instead, that money went back into their business, where it was needed most. Having extra capital made it easier for her to continue buying from local farmers, maintaining her commitment to sourcing locally raised food.
    It is a circle of gratitude. Angelina loves good food, and she loves her farmers. She clearly enjoys her customers, and, in turn, we all adore her right back.
    Over the next months and years, she became our poster child and our loudest cheerleader. She comes to Slow Money NC eventsand raves about what her loan and the Slow Money NC network meant for her business. She’s a great ambassador. We often hold Slow Money gatherings in her restaurant. And, of course, we eat there whenever we want authentic, locally sourced food — and time with Angelina and John.
    Angelina understands how to “pay it forward,” and she gives her business to other Slow Money borrowers when she can, She refers her own customers to them as well. Recently, when she was asked if she could supply vegan desserts to our local co-op grocery store, she suggested they contact another Slow Money borrower, Stephanie of Sweeties Vegan Bakery in Chapel Hill.
    When Angelina had a big catering job coming up, she brought in three other Slow Money entrepreneurs to help her fill out the menu.
    After a year or so, Angelina’s coolers began to fail. She had bought them “used” at a price she could afford, and they had been repaired several times. Now it was clear that they would soon need to be replaced. Angelina has since found a better source for used equipment, and they had two newer models that would do just fine. But paying for them was a problem. So, she and John made another request for help.
Already Looking Back
    It is now nearly two years since we made those first two loans to Angelina. The word about Slow Money NC has spread, and we now have people contacting us asking how they can make a Slow Money loan. People are beginning to understand that their money has power and that we vote with every dollar we spend. Loaning money to local farmers and the businesses that support them has powerful results, including great food to enjoy, a resurgence of smaller farms, recharged topsoil, and a stronger, more resilient local food economy. The challenge is how to plug in and — in the best sense of altruism — do the greatest good for the greatest number.
    Slow Money seeks to make peer-to-peer loans between people who know one another — people who are friends. Lenders understandthat they need to be prepared to lose the money they’re putting in. But even with that caveat, there is still a line of people ready and willing to make Slow Money loans. For Angelina’s second loan, we divided the amount they needed for the coolers by three, and it was easy to find three friends who wanted to help.
    One lender is the executive director of a regional farm advocacy group. Another is Gary Simpson, a retired Lutheran pastor, who is best known in our community for his work with non-profits and as a citizen activist. The third is a young man studying to become a massage therapist. He eats at Angelina’s regularly and has a sister who is a farmer in western North Carolina. They each met with Angelina, worked out the terms of a loan, wrote their check, and filled in a Promissory Note. Angelina and John now have two shiny, newer coolers to keep the business going, and three more lenders have joined the Slow Money NC “family.”
    For these three lenders, the loan was a big commitment, but they all understand that providing community capital makes a crucial difference. If we want places like Angelina’s Kitchen to be there when we get hungry for delicious, locally produced food, we need to jump in and make it happen. After making his loan to Angelina, Gary said, smiling, “So many people benefit from this, it’s a win-win all around.”
    Our lenders are ordinary people doing