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Democratic Investing Process
Businesses We Love
Members and residents name POC-owned Business they Love at Neighborhood and Citywide Assemblies as well as online.
Ratification
Members ratify businesses they love lists into an investment plan through a vote. In more recent years, we have created the Ujima Voting Delegation to ease the burden of voting on our membership. Delegates review on no more than 10 businesses. Any concerns listed by voting members are researched
Outreach
The Ujima Fund Management Team reaches out to Businesses that have been named and invite them to apply to join UGBA.
Presenting to CSC
Businesses interview with Community Standards Committee, who review businesses in accordance with our 36 Good Business Standards. If a business passes this round, they are invited to join the UGBA.
Preparing for Investment
Businesses that desire investment meet with Ujima Fund Management Team
Credit Memo & Member Due Diligence
Ujima's Legal Team produces a Loan Term Sheet, while the Fund Management Team develops report for members to review. The credit memo is then sent to members, who have one week to review, ask questions and give feedback.
Outreach
The Ujima Fund Management Team reaches out to Businesses that have been named and invite them to apply to join UGBA.
Investment Committee
Business gives formal Presentation to Ujima's Investment Committee, who preform due diligence and may ask for more documents or information before giving their recommendations to members.
Investment Vote
Ujima members participate in a formal investment vote where they approve or deny the loan. If denied, businesses can still enjoy other programs available to the UGBA and Ujima may help seek alternate financing options.
The Ujima Fund
The Nation's first Democratic Investment Fund. The Ujima Fund is a democratic investment vehicle raising capital to finance small businesses, real estate and infrastructure projects in Boston’s working-class Black, Indigenous, and other communities of color, as part of the larger Boston Ujima Project. Ujima uses a participatory budgeting process in combination with traditional underwriting to put economic development decisions in the hands of community members.
Learn more about our democratic investment process by reviewing the tiles below.