Detroit Case Study Illustrates Challenges & Opportunities in Strengthening Markets
Arlington, VA/Detroit, MI (March 20, 2017)—As new development takes hold in once-distressed urban areas, it is important to address the risks of resident relocation and displacement that disproportionately impact low-income residents. With a focus on multifamily development in Detroit, a report from Capital Impact Partners identifies a number of practices that developers, investors, city officials, Community Development Financial Institutions (CDFIs), and public interest groups can use to plan for and responsibly manage development processes that may lead to resident displacement and relocation.
Independent rating recognizes organization’s strong asset quality, performance, and oversight
Arlington, VA (January 17, 2017)— S&P Global, the world’s leading provider of independent credit ratings, has assigned Capital Impact Partners with a “AA issuer credit rating with stable outlook”. The ratings analysis recognized Capital Impact’s strong asset quality and liquidity, minimal risk profile, and consistent growth in loans and assets.
Organization among select group to receive both financial assistance and healthy food financing awards
Arlington, VA (September 26, 2016) Capital Impact Partners announced today that it has received $4.4 million in grants from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to increase lending and investment in low-income and economically distressed communities across the nation. Capital Impact Partners will use this funding to expand its strategic financing efforts that support increased access to quality health care and education, healthy foods, affordable housing and dignified aging alternatives for underserved communities.
Capital Impact Partners joins with top CDFI Lenders in bond issued by Community Reinvestment Fund, USA supporting economic development projects
Minneapolis, MN/Arlington, VA (September 29, 2016) On behalf of three of the nation’s leading Community Development Financial Institutions (CDFI), Community Reinvestment Fund, USA, (CRF) has issued a $165 million bond in the fourth round of the U.S. Treasury Department’s CDFI Bond Guarantee Program (BGP). The three CDFIs—Capital Impact Partners, Low Income Investment Fund and Reinvestment Fund—will use bond proceeds to finance projects that will create jobs and increase access to critical services in underserved communities across the nation. CRF has issued a total of $590 million since 2014.
Capital Magnet Fund Award Will Support Detroit Revitalization Efforts
Arlington, VA/Detroit, MI (September 23, 2016)— Capital Impact Partners announced today that it has received a $4.8 million grant through the fiscal year 2016 round of the U.S. Department of the Treasury’s Capital Magnet Fund (CMF). Capital Impact Partners will use the funding to build upon its concentrated work in Detroit and expand affordable housing across this city.
$52.5 million in financing supports projects in underserved communities across five states
Arlington, VA (August 26, 2016)— Capital Impact Partners announced today that it provided $52.5 million in financing to projects delivering social impact for underserved communities across the U.S. during the first half of 2016. In particular, second–quarter loans increased 55 percent over the same quarter in 2015. These loans support projects that increase access to housing, health care and education for low-income communities while also creating hundreds of jobs.
First Healthier California Fund Loan Provides Financing for New Tri-City Health Center
Financing supports increased health care and dental access for uninsured and underserved Californians
Arlington, VA/Oakland, CA (July 18, 2016) – Capital Impact Partners today announced $1 million in financing for Tri-City Health Center’s newest clinic in Fremont, California serving 8,000 patients. This represents Capital Impact Partners’ first Healthier California Fund loan. This new lending initiative provides financing to help community health centers and clinics increase access to medical, dental and behavioral health services for California’s underserved, low-income residents, and in turn, meet Affordable Care Act (ACA) mandates.
Arlington, VA (May 9, 2016) – Capital Impact Partners today announced the appointment of Natalie Gunn to the position of Chief Financial Officer (CFO). Mrs. Gunn replaces Ellis Carr who assumed the role of President and Chief Executive Officer (CEO).
Democracy at Work Institute and Project Equity Share $45,000 Prize
Arlington, VA (April, 25 2016) – Capital Impact Partners announced today that it has awarded grants totaling $45,000 to the Democracy at Work Institute and Project Equity, co-winners of its second annual Co-op Innovation Award. The award is given to recognize those organizations that demonstrate leadership in bringing the cooperative model to scale and in creating social impact for low-income communities.
$54.8 million in Q4 financing across six states supports 17% growth over 2014 closed loans
Arlington, VA (April 1, 2016)— Capital Impact Partners announced today that it closed its largest direct loan to date during the fourth quarter of 2015. The loan was part of an overall financing effort of $54.8 million for projects in six states. Capital Impact finished the year with more than $130 million in total closed loans supporting projects that deliver social impact to underserved communities across the U.S.—a 17 percent growth from 2014.