Ellis Carr is now the president and CEO of Capital Impact Partners and CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, has transitioned to Board Chair of the combined organization. We invite you to learn more about our new enterprise at www.investedincommunities.org
CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.
We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.
Welcome to the second video of our new series, “CEO Conversations,” where CDC Small Business Finance’s CEO Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss the new alliance.
Ellis Carr is now the president and CEO of Capital Impact Partners and CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, has transitioned to Board Chair of the combined organization. We invite you to learn more about our new enterprise at www.investedincommunities.org
CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.
We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.
As of July 1, 2021, Ellis Carr is now the president and CEO of Capital Impact Partners and CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.
In 2020, Kurt Chilcott and Ellis Carr sat down for a video series of conversations about our alliance. You can also watch the whole video series here.
By Ellis Carr, President and CEO
Since 1982, Capital Impact Partners has helped people build communities of opportunity that break barriers to success. We have done that through learning and evolving with a range of investors, donors, community partners, and other Community Development Financial Institutions.
As we looked to the future, we saw a tremendous opportunity to do more, give more, and make a bigger difference. With that in mind, more than a year ago, we began conversations with CDC Small Business Finance. Together, we recognized how our similar visions and complementary expertise, services and financing products could create a change that neither of us could accomplish independently.
Editor’s note: This conversation took place virtually to protect all participants during the COVID-19 pandemic. There may be sound issues, as this was a live webinar.
As COVID-19 continues to disproportionately impact communities of color, it is important that supporting diverse developers does not stop. As not only business owners, but community builders, diverse developers come from, live within, and understand the investments that often disinvested communities want for themselves and future generations. However, because of systemic disinvestment, diverse developers have far fewer opportunities to engage in their chosen profession or create the lived environments that would support communities of color.
By Ellis Carr, President & CEO, and Daniel Varner, Board Chair
Over the past several weeks, the COVID-19 pandemic has fundamentally changed the world for all of us. Our hearts go out to everyone who has been—and will continue to be—affected by this devastating event.
We want to express our deepest gratitude to those who are serving on the front lines during this crisis: doctors, nurses and other health care workers, pharmacists and grocery store employees, restaurant owners and delivery crews and everyone who has sewn masks and donated food and supplies to those in need. We are truly indebted to them for their sacrifice and hard work.
Since I last reached out on behalf of the team here at Capital Impact, our country has changed dramatically as a result of the unprecedented health crisis we are all facing.
“Those closest to the problem are closest to the solutions.” Bryan Stevenson
Community Development Financial Institutions (CDFIs) were first certified by the U.S. Treasury 25 years ago to provide financing in communities left behind by the mainstream financial system. CDFIs have long been “first responders” to many small and growing businesses in communities throughout America and are very much on the front lines of the economic response to coronavirus (COVID-19). There are more than 1,000 CDFIs at work in all 50 states managing $185 billion in loans and investments to historically underserved small businesses, nonprofits, affordable housing projects, unbanked consumers building credit, and farms and grocery stores which provide healthy food.
Community Development Financial Institutions (CDFIs) have been bringing investment to Detroit for more than two decades. The mission-driven approach and unique tools that CDFIs bring to the market have played a critical role in the development of new housing and community facilities like grocery stores and schools in the city.
By Candace Robinson, Director, Strategy for Aging in Community, Capital Impact Partners, and Amy Herr, Director, Health Policy, West Health Policy Center
This blog originally appeared as a Fast Fact on the Build Healthy Places blog. Read the original blog here.
Fact:
On average, only 35 affordable rental homes exist for every 100 extremely low-income renter households (households that earn 30 percent of the median income). Twenty-six percent of extremely low-income renters are seniors.
Between 2000 and 2013, Detroit lost one-quarter of its population—more than 244,000 residents. When the city filed for bankruptcy in July 2013, the exodus continued, with residents leaving the city in record numbers. Vacant homes and shuttered businesses meant that those who remained had little support and far fewer employment prospects to keep themselves and their communities going.
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