RSF Social Finance Supports Sustainable Fisherman in Native Alaskan Communities

May 26, 2011 4:10 PM ET

(3BL Media / theCSRfeed) May 26, 2011 - RSF Social Finance (RSF), a non-profit financial services organization providing capital to non-profit and for-profit social enterprises, announced today that it has made a loan to Kuskokwim Seafoods, LLC.

Kuskokwim Seafoods, LLC is a small salmon processing company located in Bethel, Alaska, and is certified by the Marine Stewardship Council. They provide an important revenue source to a community of native, subsistence fishermen, and other local residents. Fishermen are paid fair market prices for their salmon catch and have the convenience of being able to sell their catch closer to home. The company also provides community employment opportunities and fair wages to workers on their processing barge during the fishing season.   A third party then brokers the wild and sustainably caught fish to restaurants and retailers such as Whole Foods, addressing the growing market of consumers who care about the source and traceability of their seafood, and the linkage to the overall health of our oceanic ecosystem.          “I spoke with several Alaska Native Yup’ik fishermen in the town of Kwethluk, all of whom were very supportive and excited about Kuskokwim Seafoods and the opportunities they are providing to their village community. For more than ten years, there has been no commercial fishery in Bethel, and thus no opportunities for the Alaska Native fishermen to sell their salmon and support their subsistence culture and way of life” said Scott Hackenberg, RSF Lending Manager.   RSF Social Finance is the lender of choice for values-driven social enterprise in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. Borrowers not only receive financing to meet their capital needs through a close relationship with RSF, each becomes part of a larger community working to transform the way the world works with money. RSF is proud to support Kuskokwim and the positive social and environmental impacts generated through their work.   About RSF Social Finance Located in San Francisco, CA, RSF Social Finance (RSF) is a non-profit financial services organization dedicated to transforming the way the world works with money. Since 1984 the organization has made over $230 million in loans throughout the U.S. and Canada to non-profit and for-profit social enterprises.   RSF's capital comes primarily from one thousand individuals who have invested $1,000 or more in the organization's Social Investment Fund. Investors earn a competitive return on their money comparable to a certificate of deposit while their funds are deployed to social enterprises working in the areas of Food & Agriculture, Education & the Arts and Ecological Stewardship. RSF's loan portfolio totals approximately $70 million, and current borrowers include independent schools, organic food companies, and a leading supplier of recycled office paper.   About Kuskokwim Seafoods LLC Kuskokwim Seafoods is a small processor, located on the seawall in Bethel, Alaska.  Kuskokwim provides a market to the local salmon fishers for their iced and bled king, sockeye, chum and coho salmon. The salmon are quickly dressed, packaged and distributed to domestic markets who appreciate the value of these high quality fish.  All salmon are available subject to the strict management of the fishery by a unique cooperative arrangement between local subsistence fishers, commercial fishers, sports fishers, other users and the Alaska Department of Fish and Game.   RSF14121