11 Oct 2017

Broccoli Bonds: A different kind of greenback

1:44 pm on 11 October 2017

People wanting to invest in an urban farm are being offered a novel return - broccoli instead of bucks.

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Photo: Supplied / Cultivate Christchurch

Cultivate Christchurch wants to raise up to $200,000 on the PledgeMe crowd funding platform to expand a composting service.

The so-called Broccoli Bonds offers investors the option to be partly repaid with produce, rather than a full principal repayment with 15 percent interest.

The company grows and supplies fresh produce to Christchurch restaurants and recycles organic waste and compostable packing through its compositing service, which it wants to expand to the whole of Christchurch's central business district.

It also employs and trains young locals.

"Our goal is to create a sustainable enterprise because the bigger we grow the more young people we can employ, and the more opportunities we can provide for the community as a whole," co-founder Bailey Peryman said.

The group grew out of a community project which started in 2015 to help youth excluded from mainstream education.

"We started off with some land that was leased to us for free, and growing local produce with young people," Mr Peryman said.

"We started composting for ourselves, and despite our best efforts to bury this service, people keep on asking us to provide it. So, we've decided to add it to our core offering."

The minimum investment in the Broccoli Bonds is $500 and lenders have three options for repayment, from 5 percent cash interest through to full repayment in produce.

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