As the country slowly reopens, many small businesses are barely hanging on. In fact, unlike big corporations, many small businesses will never recover from 2020 business closures due to COVID-19. Without local businesses and shops, consumers will be left with big-box options unless they take action now and invest in small businesses.

The health of these businesses is important to local communities, but also to the overall economy. While government assistance has been slow to reach small businesses, in 2019 the United States had 30.7 small businesses that employed 47.3 percent of the private workforce, with the top-three industries being health care and social assistance, accommodation and food services, and retail.

MainVest was created to help communities invest in local businesses, unlocking funding for neighborhood brick-and-mortar stores like boutiques, cafés, and theaters that serve the community and offering more flexible financing solutions than a bank loan or equity investments.

Co-founded by early Uber and Grant Thornton employees, MainVest is a platform that lets any American, regardless of wealth or status, support their community through investing in small businesses. This new style of fundraising lies somewhere between traditional investing and GoFundMe-style crowdfunding. MainVest raises capital online by using Reg CF (Regulation Crowdfunding), a securities exemption that is currently capped at $1.07 million but allows anyone, not just accredited investors, to invest.

“We believe people should be able to make a living doing what they love. Unfortunately, access to capital is a primary factor limiting growth in the small business sector. Our mission is to break down these barriers and open up the investor market, especially for women and minority entrepreneurs who face prejudicial funding climates,” said Nick Mathews, CEO and co-founder of MainVest.

Historically, bank loans and lending in general, traditional investment capital, has been very discriminatory toward people of color and women. The government’s PPP and other CARES Act relief has been slow to reach small businesses—often too late, if at all.

For Businesses: With MainVest, small businesses set up “Offerings,” where they can pitch their greater communities on potential investments—not donations—resulting in local investors who become advocates and supporters of businesses in their portfolio. MainVest works directly with entrepreneurs to streamline the regulatory process and set up their offerings to allow for capital raises that accomplish long-term business goals.

For Investors: Anyone can invest in an offering on MainVest with as little as $100, and if the minimum investment to fund the business’s needs are not met, your investment is returned back to you. If capital needs are covered, you are paid back via auto-direct deposit from the company’s future revenues, for years to come.

Beyond being a mechanism for securing capital, MainVest makes customers feel they have vested interest in the companies they support.