If Trump Cuts this Little-known Federal Program, it will Gut Low-income Communities
March 2017
When the new administration sought to eliminate the U.S. Department of Treasury’s CDFI Fund in its FY2017 budget, the role that Community Development Financial Institutions play in delivering capital to low-income communities came under increased scrutiny. Fast Company featured Capital Impact in its in-depth look that highlighted the key role CDFIs play, specifically noting: “Companies like Capital Impact Partners don’t do the work they do for recognition or glory–they do it to get money to the people and communities that need it most.”
As Detroit turns a corner, luxury housing is creating concerns about gentrification. In looking at this important issue, the Wall Street Journal featured Capital Impact’s study focusing on addressing resident relocation and displacement. With a focus on multifamily development in Detroit—but applicable nationally—our report identifies a number of practices that can be used to plan for and responsibly manage development processes that protect low-income residents.
Ideas to help address the challenges of providing better care to low-income elders
October 2016
As a generation of aging baby boomers, and a corresponding uptick in chronic illnesses, meets rising medical costs in a perfect storm, the medical and social services communities have to face a critical question: How can we best provide care for our nation’s low-income elderly population? Capital Impact’s CEO, Ellis Carr, works to answer this important question in this Op-Ed published by the Stanford Social Innovation Review.
Worker-owned companies, social enterprises, and related broad-based ownership models are increasingly seen as highly valuable tools for stemming and reversing rising economic inequality. In this third part of an ongoing series, the Democracy Collaborative looks at how to finance models to create more and better jobs and broader ownership opportunities. Capital Impact’s role in providing both technical assistance and financing to food, worker and housing cooperatives is highlighted as a key approach.
To Serve all Californians Expanded Health Clinic Capacity is Needed
September 2016
Federally Qualified Health Centers – of which there are nearly 130 in the state – have long served as the safety net for California’s most vulnerable residents living in both urban and rural communities. Yet, as we look into the future, that net is fraying. In this Op-Ed for California’s leading political newspaper, Capital Impact’s Chief Lending Officer, Scott Sporte, illustrates how our financing work is helping to support FQHCs and create health equity in the state.
Investing in Detroit’s Comeback: Optimism & Challenges on the Road to Inclusive Growth
February 2016
2015 was a year of optimism for post-bankruptcy Detroit. New investments. Blight being tackled. Infrastructure coming online. only. As a longtime Detroit resident and community development professional, Capital Impact’s Bradford Frost still believes the city is at a significant crossroads. In this Op-Ed for Next Billion, Frost takes an in-depth look at the question: “Will redevelopment in Detroit lead to equitable growth?”
It may come as a surprise to many that the Federal Home Loan Bank (FHLB) system is one of the largest and oldest government-sponsored enterprises devoted to housing. For decades large financial institutions have been the primary intermediary between the FHLB and individual mortgage holders. This Next City article examines how Capital Impact is among a select group of Community Development Financial Institutions leading the way in working with the FHLB to kick start lending on a massive scale in communities where it is needed most.
Capital Impact says ‘yes’ to underserved Detroit communities
January 2016
With over $2 billion deployed over our history, Capital Impact has grown into one of the largest Community Development Financial Institutions in the country. As a mission-driven lender, we are driven by the social impact we achieve. In this Michigan Chronicle profile, Melinda Clemmons, Capital Impact’s senior loan officer, provides an inside look at how we are driving social impact in her hometown of Detroit.
Numerous studies released throughout 2015 reveal what some have deemed a substantial and significant “neighborhood gap.” That gap is the difference in the quality of life in one neighborhood versus the quality in another. Two leading business authors highlighted the work of Capital Impact’s lending efforts to close this gap in this Huffington Post “Profit + Purpose” column.
More and more, foundations are moving out of their traditional philanthropy role to take on impact investing and make loans or investments that have double-bottom-line goals of financial and social returns. In this Stanford Social Innovation Review piece, Capital Impact’s partnership with the AARP Foundation and Calvert Foundation to launch the Age Strong Investment Fund and create impact for low-income individuals over 50 is highlighted as a top example of this emerging trend.
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