The Next 25 Social Enterprise Stars: How to Spot One

We’re happy to report that our campaign to add 25 social enterprise stars to our loan portfolio over the next year is generating referrals. It’s also inspired some of our friends to ask, “How would I know a social enterprise star when I see one?”

Excellent question. When we say “social enterprise” we mean a for-profit or non-profit venture that generates revenue not as an end, but as a means toward creating significant social or ecological benefits. Just giving profits to good causes doesn’t qualify; the mission must be embedded in the organization. A “star,” by our campaign definition, is an enterprise that’s been in operation for at least three years and has annual revenue of over $1 million (signs that its leaders have shown the ability to stick with it and grow), advocates for or demonstrates social change in its field, and has the potential to achieve significant positive impact through its own operations and as a model. We also have specific loan criteria; see the Social Enterprise Stars campaign page for details.

One of our newest borrowers provides a great example: Hudson Valley Harvest. This for-profit food hub based in Kingston, New York, provides efficient distribution services that connect small and midsize farms in upstate New York with wholesale food buyers in New York City and surrounding areas. This kind of distribution link is essential to economic success for farmers and to access to fresh food for urban communities. Hudson Valley Harvest, founded in 2011 by a farmer and three friends who met at farmers markets, also buys and processes surplus products for sale under its own label, with the farm source identified. The new line of credit from RSF will help support the company’s rapid sales growth and related inventory expansion.

Know any enterprises that fit the star profile? Send them to Wanted: Social Enterprise Stars.

And please keep spreading the word! The more #SocentStars posts there are on Twitter, Facebook, and LinkedIn, the more social enterprises we can reach and assist. Many thanks to those who were active last month, including 3BL Media, Just Means, SOCAP, Social Earth, Invest with Values, Robert Simons, Green Reads, Karen Ammann, Business for a Fair Minimum Wage, and Finance Weekly.

Here are a few post ideas:

@RSFSocFinance has loans to spare for #socents. See if you could be one of the next 25 #SocentStars: bit.ly/1tH0ytE

Are you a #socent looking to expand your impact? @RSFSocFinance has loans up to $5M: bit.ly/1tH0ytE #SocentStars

@RSFSocFinance is seeking the next 25 #SocentStars. Send candidates here: bit.ly/1tH0ytE #socent