Program is sponsored by a grant from the Amazon Housing Equity Fund and will support real estate developers of color focused on bringing more affordable housing to the Washington metropolitan region.
April 28, 2022 (Arlington, VA) – Today, Capital Impact Partners announced the inaugural class of its Housing Equity Accelerator Fellowship. The group consists of 15 of the region’s emerging real estate developers of color.
The goals of this new program, funded by a grant of more than $5 million from the Amazon Housing Equity Fund, include increasing the number of real estate developers of color in an industry where they are under-represented, and helping to grow the affordable housing stock in this region.
Character-based evaluations, rather than credit scores, are key for Activate Detroit, a new loan product from mission-driven lenders CDC Small Business Finance and Capital Impact Partners.
ARLINGTON, VA. (April 25, 2022) – Credit scores don’t tell the whole story of small business entrepreneurs. Activate Detroit – a new loan product meant to empower Black entrepreneurs – is changing the way their story is told.
CDC Small Business Finance and Capital Impact Partners are proud to announce the launch of Activate Detroit, which provides access to affordable financing through character-based lending practices.
Capital Impact Partners and CDC Small Business Finance President and CEO Ellis Carr joined Kamala Harris, Vice President of the United States of America, for Announcement at Howard University in Washington, D.C.
March 30, 2022 (Arlington, VA) – Capital Impact Partners and CDC Small Business Finance are proud to stand alongside the Greater Washington Partnership and the Biden-Harris Administration for two announcements made Wednesday that will aid small businesses and communities of color.
The Greater Washington Partnership announced that it plans to direct $4.7 billion over the next five years toward supporting underrepresented communities and Minority Business Enterprises (MBEs) in the Washington, D.C. metro region.
Amazon commits more than $5 million to new program to grow opportunities for real estate developers of color in Arlington, Virginia and the broader Washington, D.C. Metropolitan region
Arlington, VA (December 8, 2021) – Capital Impact Partners today announced a grant of more than $5 million from Amazon to launch an initiative focused on accelerating new opportunities for emerging real estate developers of color while also increasing affordable and workforce housing across Arlington, Virginia and the greater Washington, D.C. metropolitan region. This funding is the most recent commitment from the more than $2 billion Amazon Housing Equity Fund, which was established to preserve and create over 20,000 affordable homes in Amazon’s hometown communities–the Puget Sound region of Washington state, the Arlington, Virginia region, and Nashville, Tennessee.
Washington Business Journal Women Who Mean Business 2020 | Natalie Gunn
In 2020, Capital Impact’s CFO Natalie Gunn was named to the Washington Business Journal’s 2020 list of Women Who Mean Business. This profile piece looks at Natalie’s work at Capital Impact Partners to create equitable futures for disinvested communities nationwide. Natalie stated in the article that our work is about raising the right type of capital, “so that we can then have a strong capital base to be able to provide the type of investment to the communities we serve that they actually need.”
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New Lending Industry Alliance to Bolster Underserved Communities
With a focus on economic empowerment, equitable wealth creation, and connecting institutional capital to communities of color, Capital Impact’s CEO Ellis Carr describes how the organization’s new alliance with CDC Small Business Finance is working to disrupt the financial sector to deliver a breadth of products and services under a focused strategy.
$12.5 million fund aims to help spur minority real estate development in Detroit
Too often, traditional lending products did not serve borrowers of color very well due to a number of systemic inequalities that include lack of collateral, education, and networks. Capital Impact launched its Diversity in Development Detroit Loan Fund with a focus on addressing these structural issues and spurring minority real estate development in the city.
Op-Ed: CDFIs have untapped potential as game changers for minority-owned businesses
In this op-ed, Tim Ferguson, founder and chairman of Next Street, makes the case for how CDFIs can help small business entrepreneurs access the capital they need to build and expand their businesses. He cites the alliance between Capital Impact and CDC Small Business Finance as a promising example for how this can be accomplished in the coming years.
Op-Ed: Transformative Power of Co-ops
The cooperative model challenges the status quo and offers workers, especially workers of color, an alternative to longstand economic extractive systems, notes Alison Powers, Capital Impact’s Cooperative & Community Initiatives Manager. In this op-ed, she lays out the case for how co-ops remain a powerful tool to disrupt income inequality, and steward community ownership and asset building.
New model offers way to provide assisted living beyond traditional boundaries
The barriers and challenges to affordable senior living are numerous, especially for residents with low incomes. To combat this, Capital Impact is supporting a new model that enables residents living in subsidized senior and public housing to access fully licensed, affordable assisted living services traditionally delivered in stand-alone facilities.