What is ThINk?
ThINk is a membership-based network. Through the Thurston Investment Network (ThINk), people with a desire to have a local component to their investment portfolio have an opportunity to connect with local business owners who need capital. To clarify, at this stage of ThINk’s development, the focus will be on lending, not on equity investment.
How it Works
Once a business has applied, filled out the application forms and provided the required financial information, Network Members are then free to connect directly with any business they would consider funding. If there’s mutual interest, a Member and business directly negotiate the terms of their deal. The deal is entirely between the two parties, the lender and borrower. Both parties must exercise due diligence and recognize the inherent risks.
State and federal securities regulations normally require businesses to produce costly disclosures and extensive fillings unless an exemption applies. These requirements make it difficult, or even prohibitive, for small entrepreneurs to raise affordable capital. The good news is that ThINk Members and businesses can take advantage of the Isolated Transaction Exemption, which includes the following parameters:
- No maximum dollar amount limit
- Maximum of three Members making a transaction with a particular business during any 24-month period
- Transactions can be at the same time or a different times
All businesses seeking capital through the Network and all Members lending to businesses through the Network agree to limit transactions to within the parameters of this exemption.
ThINk is committed to helping its Members connect with local businesses and engage in local borrowing to create a win-win for both parties.
Local investment model going statewide:
ThINk has come into existence with help from the Association of Washington Cities (AWC) and Washington State University (WSU) Extension’s Community and Economic Development team. AWC & WSU have been bringing local investment networks to cities and towns across the state. Check out this AWC link to learn more: