Capital Impact Partners tops $2.5B in loans to underserved communities
February 2018
Capital Impact maintained its strong momentum of investments in underserved communities when it hit a milestone $2.5 billion in loans through the end of 2017. In an interview with the Washington Business Journal, Chief Strategy and Innovation Officer Scott Sporte illustrated that momentum by noting that the first “$1.5 billion [took] us 30 years to achieve. The last billion took us about seven.” Learn more about the past and future impact of our lending work in the article.
National CDFI Launches $100M Community Investment Note Offering
November 2017
In 2017, Capital Impact marked a key milestone with the launch of our $100 million Investment Note. Our CEO, Ellis Carr, sat down with NonProfit Quarterly to talk about our effort to raise “socially motivated capital” from individuals and institutional investors alike. Learn more about how this effort is supporting Capital Impact efforts to engage in the fight against the growing inequality we see across the country.
New $5 Million Program Helps Black Developers Rebuild Detroit
October 2017
While Detroit is rebuilding, African-American real estate developers have been largely absent from that effort. To ensure that the pool of developers truly reflects the city’s diversity, Capital Impact launched the Equitable Development Initiative with an initial investment from JPMorgan Chase. This article illustrates how this program will combine capital support and training to empower minority real estate developers to create transformative change in the city.
In this cover story about the variety of organizations working together to fuel Detroit’s revival, Capital Impact’s senior Detroit loan officer, Melinda Clemons, spent time touring the city with Fortune Magazine to highlight projects that support inclusive growth. The article highlights the leadership of JPMorgan Chase’s $150 million effort in the city and supporting the mission-driven efforts of CDFIs like Capital Impact and Invest Detroit.
Op-Ed: Congress: Continue to Invest in America’s Struggling Cities and Towns
September 2017
With the Community Development Financial Institutions Fund – a program of the U.S. Department of the Treasury – threatened by budget cuts, the leaders of the nation’s four largest CDFIs joined together to write an op-ed published in The Hill. This important call to action asks Congress to ensure that the CDFI Fund is fully funded and safeguard this critical agency to continue supporting the work of CDFIs as they help create economic prosperity for low-income communities and empower Americans to live healthier, more equitable lives.
How CDFIs Expand Economic Opportunities in Underserved Communities
August 2017
More than Money, a podcast that explores how “we can use our values to inform how we engage with our work and invest our wealth,” recently sat down with Capital Impact’s President and CEO Ellis Carr to discuss our approach to community development and the role of CDFIs in communities. In this podcast, you will learn how we work as a market maker and market catalyst to help communities thrive.
Could This Idea Help Fix America’s Shortage of Home Care Workers?
August 2017
The number of adults aged 65 and older requiring long-term care could rise by more than 70 percent over the next quarter century, according to experts. Yet, the supply of home care workers is likely to fall short of that demand. Through a new program led by Capital Impact and supported by the AARP Foundation, we aim to use the power of cooperatives to bridge that gap while also creating quality jobs for women aged 50 and older.
Could This Idea Help Fix America’s Shortage of Home Care Workers?
June 2017
While nearly eight million Californians live in poverty, a proven tool to spur investment in their communities continues to be at risk of being cut by the state legislature. Known as COIN, this public-private partnership between the California Department of Insurance, the insurance industry and CDFIs leverages tax credits to support community development investments. In this op-ed, Capital Impact’s President and CEO Ellis Carr and Chief Lending Officer Scott Sporte lay out the important case for why this program must be saved.
The Growing Movement to Invest in the Older Americans’ Market
May 2017
Raising money for projects, products or services that help older adults age with dignity in their communities has been notoriously tough. But as aging journalist Chris Farrell uncovered, social entrepreneurs are beginning to fill that gap. Capital Impact’s Age Strong Investment Fund was recognized as a key program working to deliver not only necessary capital but social impact as well.
Could This Idea Help Fix America’s Shortage of Home Care Workers?
May 2017
Formerly a resident of Michigan, journalist and author Marc Gunther wrote an in-depth piece about the city’s revitalization. Gunther illustrates Capital Impact’s role in utilizing investments from government agencies, banks and foundations to spur investments in social impact projects that drive economic activity and improve lives. The article notes that “Capital Impact Partners seeks to do all this work in ways that promote inclusive neighborhoods, meaning that they should accommodate a mix of well-to-do, middle-class and poor people.”
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