Safety technology platform Flock Safety has partnered with growth capital provider Homegrown to launch the Thriving Cities Fund.
According to a news release, The Fund focuses on helping existing brick-and-mortar businesses expand to new locations, particularly those that serve as cornerstones of their communities, such as neighborhood restaurants, beauty salons, wellness and fitness concepts, coffee shops, healthcare facilities, and other local hubs of connection.
In order to structure the most business-friendly terms, the capital is based on a revenue share model, rather than equity or fixed interest. There are no set term lengths, and each deal will be unique to the business, with check sizes ranging from five to six figures. Additionally, financing is available without personal guarantees or upfront down payments, providing a friendlier funding option for proven businesses, according to the news release.
The first city where the Thriving Cities Fund will deploy capital is the metro Atlanta area, where both Flock Safety and Homegrown are headquartered. The first announced investments in the Fund are El Tesoro, a Tex-Mex restaurant with two existing locations, Switchyards, a 24/7 neighborhood work club with locations in 10 cities, and Sugarcoat Beauty, a nail and beauty business with 20 locations.
Over the next several months, the Thriving Cities Fund will launch in two to four additional cities across the country.
Funding decisions will be based on the business’s track record, vision for expansion, and alignment with the Fund’s mission to strengthen communities. At launch, the Fund will prioritize funding proven businesses with multiple existing locations.
“A safe city isn’t just a city without crime — it’s a city where people thrive,” said Garrett Langley, Co-Founder and CEO of Flock Safety, in the release. “Through the Thriving Cities Fund, we’re helping high-impact entrepreneurs expand their businesses, create jobs, and anchor their neighborhoods, which in turn fosters trust, opportunity, and a higher quality of life for all.”
Business owners interested in applying can learn more and submit their interest through the form available at www.thrivingcitiesfund.com.