As Agrarian Trust and our partners try to create a new framework where farmland commons are created by investors and worked by farmers in the community, we also are beginning to ask who can invest. Is there a legal framework for small lenders, and if not, how do we create one.
In January, new legislation was introduced in the Minnesota Legislature that would open up business investment opportunities to everyone in our state in a way that is now only open to wealthy individuals. While this proposed legislation is modeled after similar bills already passed in 14 states and has the backing of more than two dozen business groups and associations including the Twin Cities Metro Independent Business Alliance, opposition in the name of consumer protection has arisen from some likely places. I’ll discuss this in a minute, but first, some context.