Merkley, Jeff-020609-18427- 0006WASHINGTON, D.C. – U.S. Senator Jeff Merkley today announced the award of a $49,275 USDA grant to the nonprofit Hatch Innovation, Inc. to connect rural small businesses with local people who want to invest in them through Oregon’s newly launched crowdfunding investment process.

Crowdfunding is a new, innovative method of financing for small businesses in which a business can raise capital from many different small-dollar investors, often in their local community, who in turn each get to own shares in the business and receive a return on their investment if the business does well.

Hatch Innovation is working with the Northeast Oregon Economic Development District on the project to support a “grow your own” business development and fundraising climate that improves entrepreneurs’ access to capital, allows ordinary residents to invest in local businesses and, ultimately, creates and saves jobs in the region.

…read more from Senator Merkley.