NPX Achieves First Close With New Impact Security; Raises $800k For The Last Mile - #665
Never miss another interview! Join Devin here: http://bit.ly/joindevin. Read the full Forbes article and watch the interview here: http://bit.ly/2L5eMSn Last December, I reported here that NPX, Inc., had developed a new concept for financing nonprofits called an “impact security.” In May, the nonprofit The Last Mile closed on $800,000 of financing using the new instrument. How it works: According to Princeton educated Catarina Schwab, 43, NPX’s co-founder, “The Impact Security allows a nonprofit to issue performance-based debt to investors and make required payments on the debt over time with donations from the established donor fund.” The funds came from a group of investors who hope to get their money back with interest. Having an impact priority in mind, they don’t have an interest in financial outcomes. Instead, they want their return to be entirely dependent on achieving a measurable outcome. Read the full Forbes article and watch the interview here: http://bit.ly/2L5eMSn. Check out my free webinar where I share the secrets of successful nonprofit crowdfunding at http://crowdfundingforsocialgood.org.