Community Bonds are a form of democratic finance. They are non-transferable and non-withdrawable debt instruments that are not listed on any market. They are an alternative to Community Shares. They are used by communities wishing to access capital from within a community but without increasing their share membership. Investors receive interest, but the interest is dependent upon the performance of the project or enterprise. This type of share capital can only be raised by co-ops and community benefit societies (BenComs).