A new investment option will offer residents to support small businesses while making a modest profit, officials announced Thursday.

Lending $500 to a friend launching a small business might be risky. But investing $500 in a fund that lends to multiple small businesses lessens that risk.

The failure of one or two ventures could be more than offset by three or four others that make solid profits. And when those startups are restaurants and day care providers close to home, their success improves the local community.

That’s the philosophy behind the network of Hometown Impact Investment Funds for Local Entrepreneurs and Small Businesses being launched by the Fortitude Fund, a Fort Wayne nonprofit that supports early-stage businesses through seed grants “for founders demonstrating grit, gu

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