Calvert Foundation Offers “Recovery Note” for Gulf Coast

katrina.jpgThe Calvert Foundation, will offer a type of investment note designed to stimulate business in the devastated Gulf Coast region that focuses on local community organizations to dissuade predatory bargain hunting and still offer a decent return.

Calvert’s notes function like a Certificate of Deposit (CD) investment account, paying up to two percent interest (although investors can forego the interest so as to leverage the investment further). Unlike bank loans, which are insured by the FDIC, the Calvert Foundation’s notes are backed by its own loan loss reserves as well as $12 million in collateral. These guarantees, coupled with the foundation’s successful track record, mean investors won’t lose their shirts by ponying up cash for the effort.

The details are in E-Magazine – required subscription to read. (Thanks Mary!)

Nick Aster is a new media architect and the founder of TriplePundit.com

TriplePundit.com has since grown to become one of the web's leading sources of news and ideas on how business can be used to make the world a better place.

Prior to TriplePundit Nick worked for Mother Jones magazine, successfully re-launching the magazine's online presence. He worked for TreeHugger.com, managing the technical side of the publication for 3 years and has also been an active consultant for individuals and companies entering the world of micro-publishing. He earned his stripes working for Gawker Media and Moreover Technologies in the early days of blogging.

Nick holds an MBA in sustainable management from the Presidio School of Management and graduated with a BA in History from Washington University in St. Louis.