G8 Leaders Embrace Impact Investing With New Funds

The governments of the U.S. and the U.K. are expanding their support for socially conscious entrepreneurs.

The announcements, made at the the G8 Social Impact Investing Conference in London, indicate the growing appeal of for-profit small businesses that aim to solve societal problems.

The U.S. Small Business Administration is nearly doubling the amount it will put into impact investment funds, to $150 million from $80 million, SBA chief Karen Mills said.

The money comes through the Small Business Investment Company program, which gives private venture-capital funds access to low-cost money to invest in small businesses. 

Read more... The agency is looking for more funds to certify this fall.