The annual report for the Momentus Capital branded family of organizations showcases the mission of growing small businesses and driving economic resilience nationwide.
July 28, 2025 (Arlington, VA/San Diego, CA) – In 2024, the Momentus Capital branded family of organizations provided small business entrepreneurs, community leaders, and the communities they serve with more than $450 million in much-needed financial capital — as well as training, networking, and other opportunities.
This continuum of capital helped small businesses launch and grow, created and preserved jobs, expanded access to important services, and strengthened the economy in several regions throughout the United States.
“The Momentus Capital branded family of organizations is continuing to expand access to capital for businesses, borrowers and communities,” said Ellis Carr, President and CEO of Capital Impact Partners and CDC Small Business Finance. “We are growing small businesses; helping entrepreneurs thrive; creating jobs and greater access to affordable housing, health care and healthy food; and driving economic resilience and growth in communities throughout the United States.”
May 13, 2025 (Atlanta, GA) – After nine months of training, 15 emerging real estate developers from across Greater Atlanta have graduated from Capital Impact Partners’ inaugural EDI Real Estate Development Program in Atlanta, which is designed to help them become more involved in the region’s booming real estate market.
The free EDI Real Estate Development Program launched in Atlanta in August 2024 after successfully graduating more than 250 real estate developers in Detroit; Washington, D.C.; the San Francisco Bay Area; Dallas; Austin; and Cleveland.
EDI developers receive the tools they need as they enter the industry and grow their businesses — including training, technical assistance, mentorship, networking, and potential pathways for financing.
“The program has been instrumental in helping me sharpen both my strategy and execution as a real estate developer,” said Ashley Davis, a real estate developer from the Atlanta region who just completed the program. “I gained access to industry insights, networking opportunities, and technical expertise that has allowed me to better structure deals, navigate the development processes, and identify creative financing solutions — especially for affordable housing projects.”
The real estate developers emerge from the program with a greater ability to lead community-centric development. Combined with their existing local expertise and connections, these developers are now better positioned to create more affordable housing and other real estate projects that reflect the needs and desires of community members.
“Real estate is very local,” said Derrick Holland, a real estate developer from the Atlanta region who also completed the program. “Developers or strong local partners who have their boots on the ground are able to fully understand the needs of the community. It’s very important in the work we do to go into a community in a respectful manner and program our development so that it ties in with the community’s existing assets.”
There is a particular need for more affordable housing. From 2010 to 2020, more than 800,000 people moved to the Atlanta region, according to the Bipartisan Policy Center’s J. Ronald Terwilliger Center for Housing Policy. Home prices in Atlanta’s five-county core have increased by 73% since 2017, ​​according to a study by KB Advisory Group and Urban Land Institute Atlanta (PDF). Rent prices have also increased significantly, by 33%, and the five-county region has lost 130,000 units that had been priced at less than $1,000 per month.
The program’s 15 alumni are seeking to develop real estate in the city of Atlanta, as well as Clayton, Cobb, DeKalb, Douglas, Fulton, or Gwinnett counties:
Ray Acosta, Dacula
Miles Alexander III, Jonesboro
Terry Brantley III, Atlanta
Shelita Compton, Kennesaw
Aaron Davis, Decatur
Ashley Davis, Mableton
Majesty Gayle, Atlanta
Derrick Holland, Tucker
Tomond Jack, Decatur
Michael Oden, Marietta
Marissa Phipps, Tucker
Melvin Phillips, Atlanta
Lester Simpson, College Park
Raven Thompson, Atlanta
Ramon Tookes, Atlanta
“When I started the program, I had the passion and foundational experience, but I lacked some of the targeted resources and relationships needed to take my projects to the next level,” said Ashley Davis. “Today, I feel empowered with a stronger network, clearer roadmap, and the tools to pursue larger-scale developments with intentionality and impact.”
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
May 12, 2025 (Arlington, VA / San Diego, CA) – The Momentus Capital branded family of organizations has been named the best nonprofit employer of its size in the United States, according to The NonProfit Times, the leading publication for nonprofit managers.
Momentus Capital was ranked as the #1 large-sized nonprofit — which includes organizations with 250 or more employees — and #12 overall for organizations of any size.
The NonProfit Times spotlighted several of Momentus Capital’s internal programs and benefits, including a robust professional development system; dedicated budget lines for team building and culture building; flexible work schedules and the ability to work remotely; an online platform with access to more than 50,000 wellness classes; and discounted gym memberships.
October 30, 2024 (Arlington, VA/San Diego, CA) – Ellis Carr, the president and CEO of Capital Impact Partners and CDC Small Business Finance, part of the Momentus Capital branded family of organizations, has been named to the Washington Business Journal’s annual Power 100 list for the second straight year.
“The nation’s capital is a magnet for power. But look beyond the corridors of Congress and the White House: Some of the most powerful business leaders in the country are based in Greater Washington,” wrote the Washington Business Journal.
Mr. Carr was one of 20 business leaders featured in the “Innovators” section.
Investing in the Notes helps Capital Impact Partners create social impact in the communities it serves, supporting the creation of more affordable housing; access to quality health care, education and healthy foods; and other important pillars that help build healthy communities and generational wealth.
Capital Impact Partners has partnered with InspereX LLC to distribute the Notes through its Impact Investment Platform to a nationwide network of broker-dealers, institutions, and financial advisors.
The first Notes were offered in October 2017, making Capital Impact Partners the first Community Development Financial Institution, or CDFI, with a programmatic public debt issuance program. The first $100 million of Notes had been issued by December 2018, and additional milestones have been reached since, passing $200 million in June 2021, $300 million in March 2023, $400 million in January 2024, and $500 million in July 2024.
Capital Impact Partners Investment Note Milestones
Disclaimer: The financial amounts noted in this graph1 only represent the total amount invested in the Capital Impact Investment Note over time and do not reflect the current amount outstanding or have matured.
“We are incredibly grateful that investors who want to align their financial goals with their personal principles have embraced Capital Impact Investment Notes to such a significant extent,” said Natalie Gunn, Chief Financial Officer of Capital Impact Partners and CDC Small Business Finance, which are each part of the Momentus Capital branded family of organizations. “Reaching this latest milestone in less than seven years demonstrates that investors believe in our ability to deliver a strong financial performance while providing communities with the continuum of financial capital, knowledge capital, and social capital so they can have the chance they deserve to thrive.”
“At InspereX, we believe in the power of investments to drive meaningful social impact alongside financial growth. Capital Impact Partners has exemplified this mission, resonating strongly with both individual and institutional investors,” said John DesPrez, CEO of InspereX. “We are excited to celebrate this milestone and look forward to more achievements to come.”
What are Investment Notes?
For some investors, the goal is directing their money toward efforts that not only create financial returns, but social returns as well, contributing toward the overall community well-being.
The Notes, which are offered at fixed interest rates with multiple terms, are one such tool for these investors. While the 15 largest investors have purchased a combined $326 million in Notes, individual and institutional investors can purchase the Notes for as little as $1,000.
How does Capital Impact Partners utilize funding from the Notes?
Since its founding more than 40 years ago, Capital Impact Partners has disbursed more than $3 billion to create access to critical social services, grow entrepreneurs, and create quality jobs.
What are the ratings for the Notes?
Fitch Ratings assigned an A+ rating with a stable outlook to Capital Impact Partners and the Notes in September 2023.
S&P Global assigned Capital Impact Partners and the Notes an A+ rating with a stable outlook in September 2023.2
This press release is not an offer to sell or a solicitation of an offer to buy any securities. Such an offer is made only by means of a current Prospectus (including any applicable Pricing Supplement) for each of the respective Notes. Such offers may be directed only to investors in jurisdictions in which the Notes are eligible for sale. Investors in such states should obtain a current Prospectus by visiting www.capitalimpact.org/invest/capital-impact-investment-notes. Investors are urged to review the current Prospectus before making any investment decisions. Past performance is no guarantee of future results. No state or federal securities regulators have passed on or endorsed the merits of the offering of the Notes. Any representation to the contrary is unlawful. The Notes are not insured or guaranteed by the FDIC, SIPC or other governmental agency. As of the date hereof, the Notes are offered for sale in all 50 states and the District of Columbia, excluding the States of Arkansas and Washington.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Also, when Capital Impact Partners uses any of the words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend” or similar expressions, it is making forward-looking statements. These forward-looking statements are not guaranteed and are based on Capital Impact Partners’ present intentions and on Capital Impact Partners’ present expectations and assumptions. These statements, intentions, expectations, and assumptions involve risks and uncertainties, some of which are beyond Capital Impact Partners’ control, that could cause actual results or events to differ materially from those anticipated or projected. Purchasers of Notes should not place undue reliance on these forward-looking statements, as events described or implied in such statements may not occur. Except as required by law, Capital Impact Partners undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.
About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
October 3, 2024 (Arlington, VA) – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has announced (.xls) that Capital Impact Partners was awarded $6.8 million in grants through the fiscal year 2024 round of the CDFI Program.
Capital Impact Partners received the second-highest award. In total, the CDFI Program awarded $408.2 million to 357 organizations.
These grants will enable Capital Impact Partners to expand its efforts to create new, innovative lending products in the Atlanta Metropolitan area, and expand support for healthy food businesses and supportive housing in its core geographies.
“We are grateful to the CDFI Fund for this substantial support, which we will leverage with our balance sheet capital to expand our work bringing greater access to affordable housing, healthy foods, education, and other key services,” said Mindy Christensen, senior vice president of Community Development Lending for Capital Impact Partners, which is part of the Momentus Capital branded family of organizations.
A $800,000 Financial Assistance (FA) grant was awarded to Capital Impact Partners to support the expansion of its work in the Atlanta Metropolitan Area. Funds will be deployed through existing loan products such as acquisition, predevelopment, bridge, and construction loans.
These products address an identified need for capital for projects that conventional lenders consider higher-risk because they are located in areas that are experiencing high poverty, are smaller and generate smaller revenue streams, and fall outside of traditional underwriting standards. These loan products will benefit affordable housing projects, food access systems including food banks and retail groceries, and community facilities such as health centers and education facilities.
In addition, Capital Impact Partners received a $5 million Healthy Food Financing Initiative Financial Assistance (HFFI-FA) award to build food systems that provide economic opportunities and access to healthy, affordable food in communities.
The HFFI-FA award will be targeted to support retail projects such as those in Washington, D.C., where Capital Impact Partners serves as the fund manager for the Nourish DC Collaborative. This will build upon the organization’s work with the Michigan Good Food Fund and Capital Impact Partners’ experience financing independent grocers, local wholesalers, food hubs, processors, and businesses providing healthy food access.
Capital Impact Partners also received a $1 million Disability Funds-Financial Assistance (DF-FA) award for supportive housing for people living with disabilities and other community service providers.
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
October 1, 2024 (Arlington, VA) –Capital Impact Partners has been awarded a $50 million New Markets Tax Credit (NMTC) allocation (PDF) from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). These tax credits incentivize private sector investors to partner in community financing efforts.
“This award will help us bring private investors and key partners together to increase access to critical social services in communities, including health care, education, and healthy foods,” said Mindy Christensen, senior vice president of Community Development Lending for Capital Impact Partners, which is part of the Momentus Capital branded family of organizations. “We plan to focus this funding on projects in major metro areas in the states of California and Texas, and in the cities of Atlanta; Detroit; New York City; and Washington, D.C.”
Capital Impact Partners is now a 12-time NMTC recipient — with awards totaling $792 million. To date, the organization has used NMTC allocations to support the financing of 94 transactions nationally.
Capital Impact Partners’ NMTC investment strategy prioritizes health care, education, and multi-service community organizations in the states of California and Texas, and in the cities of Atlanta; Detroit; New York City; and Washington, D.C:
Healthcare: Projects that address the lack of affordable health care in communities living with low incomes
Education: Projects that address the lack of quality, affordable education in communities living with low incomes
Multi-service community organizations: Projects that address the high levels of food insecurity in communities living with low incomes
This year’s announcement brings the total amount awarded by the CDFI Fund through the NMTC Program to more than $81 billion. Historically, NMTC Program awards have generated $8 of private investment for every $1 invested by the federal government. Through the end of fiscal year 2023, NMTC Program award recipients deployed almost $63.6 billion in investments for communities and businesses earning low incomes, with impacts such as the creation or retention of more than 894,000 jobs and the construction or rehabilitation of nearly 259.5 million square feet of commercial real estate.
“Today, we announce the 20th round of New Markets Tax Credit allocations, which has attracted billions in private capital into businesses and projects in communities living with low incomes nationwide as they continue to recover from the impacts of the pandemic,” said CDFI Fund Director Pravina Raghavan. “These investments have spurred job creation, the rehabilitation of commercial corridors, and the development of community facilities like health clinics, charter schools, and food banks, all examples of how New Markets Tax Credit investments are vitally important for low-income urban, rural, and Tribal communities across the country.”
Coastal Bend Food Bank (CBFB) is a nonprofit organization in Texas that solicits and distributes food which might otherwise go to waste or be discarded by manufacturers, wholesalers, and retailers. Since 1982, CBFB has been fighting hunger in the Coastal Bend by providing food and personal care products to various charity and service agencies. It is serving 13.7 million pounds of food annually to more than 50,000 individuals in 11 counties throughout South Texas.
The construction of a new 108,200-square-foot warehouse and distribution center in Corpus Christi will enable CBFB to distribute more than 19 million pounds of food by 2028, a 43% increase over 2020.
The building opened in 2024 and aims to ease a community crisis where explosive growth for the food bank has led to urgent facility needs. As a smaller metro area, philanthropic dollars are limited, so NMTC is a critical means of supporting this expansion.
Capital Impact Partners joined with Raza Development Fund, Texas Mezzanine Fund, and US Bank on this $29.25 million NMTC project.
San Ysidro Health Center, California
San Ysidro Health (SYH), Inc. is the second largest health center network in the San Diego area and provides a range of services including medical, dental, pediatrics, women’s health, urgent care, and behavioral health across its more than 40 locations. SYH primarily serves patients living with low incomes (95% of 2020 patients at or below 200% FPL) and uninsured patients (20% of 2020 patients). In 2020, SYH had 96,000 unique patients and almost half a million visits.
The ground-up construction of a 44,000-square-foot health clinic and PACE center in National City, California, is part of a larger master plan that also includes affordable housing. The new National City clinic will add up to 78,338 visits per year; additionally, the new PACE center will be able to serve 600 older adults. It is expected to open in summer 2025.
Capital Impact Partners joined with National Cooperative Bank, Center Capital Fund (Capital Fund, a part of Capital Link), U.S. Bank, Corporation for Supportive Housing, and Border Communities Capital on this $58 million NMTC project.
How Do New Markets Tax Credits Work?
Managed by the CDFI Fund, NMTC allocations make their way into the community through the following process:
A community development entity (CDE) submits an application to the CDFI Fund requesting the authority to allocate a specific dollar amount of tax credits.
If its application is approved, the CDE is awarded the authority to allocate tax credits to an investor.
The investor chosen by the CDE receives a tax credit totaling 39% of the cost of the investment. The investor can claim that tax credit over a period of seven years.
In exchange for those tax credits, the investor makes a qualified equity investment (QEI) in the CDE.
The CDE must use the QEIs it receives from the investor to finance businesses or real estate projects in communities living with low incomes, where the poverty rate is 20% or higher or the median income is 80% or lower than the Area Median Income. The CDE also has the option of investing in other CDEs making loans in areas with residents earning low incomes.
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
September 24, 2024 (Arlington, VA) – Four innovative organizations in four regions have received a combined $170,000 in catalytic grant funding from Capital Impact Partners’ 2024 Co-op Innovation Awards, which aim to increase cooperative development in communities. This year brings two significant milestones. These are the 10th annual awards. Launched in 2015, the program has now surpassed $1 million. In total, a combined $1.025 million in grants have been awarded to 30 innovative organizations across the country. These awardees have subsequently leveraged their awards to secure more than $13 million in additional funding from foundations, investors, and government agencies.
The 2024 awards, issued by Capital Impact Partners and National Cooperative Bank, are providing catalytic grant funding to projects such as:
Lowering the cost of school meals via group purchasing
Creating more cooperatively-owned real estate projects
Supporting more employee-owned restaurants nationwide
Developing a food distribution hub for rural communities
“Ever since Capital Impact Partners was founded more than four decades ago — as part of a federal effort to encourage co-op development — we have deployed more than $300 million in financial capital to worker-owned and resident-owned cooperatives,” said Ellis Carr, president and CEO of Capital Impact Partners and CDC Small Business Finance, each of which is part of the Momentus Capital branded family of organizations. “The Co-op Innovation Awards have provided another key tool through our continuum of capital for building generational wealth while increasing access to quality jobs, healthy foods, affordable housing, and the other pillars that every community deserves in order to thrive.”
“Providing financial grants to spur new co-op development is critical in helping cooperatives grow and prosper across the United States,” said Casey Fannon, president and CEO of National Cooperative Bank. “We are proud to continue our support of the Co-op Innovation Award and to celebrate its 10th year in helping cooperatives thrive while improving the communities they serve.”
A total of 60 organizations applied for this year’s Co-op Innovation Awards. The 2024 awardees are:
Community Purchasing Alliance Cooperative; Washington, D.C., $50,000
Commongrounds Cooperative; Traverse City, Michigan, $50,000
Red Emma’s Cooperative Corporation and Red Emma’s Education Fund; Baltimore, Maryland, $50,000
Montana Cooperative Development Center; Great Falls, Montana, $20,000
Grants Will Help These Organizations and Their Communities
“It has been really exciting to witness what so many organizations have been able to accomplish over these past 10 years thanks in part to the Co-op Innovation Awards,” said Alison Powers, director of economic opportunities for Capital Impact Partners. “We’ve seen co-ops innovate, replicate their work, raise additional funding for their efforts, and become leaders in their field. I’m looking forward to seeing the impact that this year’s awardees will be able to provide for their communities.”The innovative projects from this year’s awardees are:
Community Purchasing Alliance Cooperative — a purchasing cooperative that reduces operating costs for schools, houses of worship, and other community groups — is being awarded $50,000 to conduct a feasibility study on the group purchase of school meals in new regions, including Massachusetts, Pennsylvania, and Washington state, to support student access to nutritious food at budget-friendly rates while shifting contracts to local businesses.
“Kids can’t learn when they’re hungry,” said Shelby Legel, vice president of program growth and development. “Through this grant funding, CPA Co-op can expand its cooperative purchasing to public charter schools outside of Washington, D.C., in feeding their students more affordable, healthier, and tastier school meals purchased together from local MWBE vendors.”
Commongrounds Cooperative — a real estate cooperative that is building supporting communities in Northern Michigan through cooperatively owned places — is being awarded $50,000 to fund a sister nonprofit. This sister organization will expand Commongrounds Cooperative’s work into additional areas of the state by incubating and providing technical assistance to future cooperative real estate projects serving communities.
“Commongrounds Cooperative is honored by this recognition and enthusiastically looks forward to continuing to learn from our cooperative community locally and nationally,” said Kate Redman, co-executive director of Commongrounds Cooperative. “This award will help operationalize a sister 501(c)(3) organization to develop new projects and share what we’ve learned with other communities.”
Red Emma’s Cooperative Corporation and Red Emma’s Education Fund — a 20-year worker-owned cooperative restaurant and bookstore, as well as an education 501(c)(3) established in 2023 — is being awarded $50,000 to create the first in-person, national convening of worker cooperatives in the restaurant industry.
“Running a worker cooperative restaurant is both incredibly rewarding and incredibly challenging — and as a part of Baltimore’s growing ecosystem of democratic workplaces in the food service sector, we’ve seen firsthand how vital it is to have spaces to share hard-won lessons with our cooperative peers,” said Kate Khatib, worker-owner and co-founder at Red Emma’s. “We’re excited and honored that the 2024 Co-op Innovation Award will give us the chance to create a space for this kind of mutual support and learning on a much bigger scale, by making it possible for us to host a historic first ever national gathering of worker cooperative restaurants here in Baltimore.
Montana Cooperative Development Center — which utilizes the cooperative business model to address community and economic needs — is being awarded $20,000 to support the development of the Montana Food Hub, a multi-stakeholder cooperative that aggregates, processes, and distributes raw produce and value-added products to rural communities.
“We are grateful to Capital Impact Partners and National Cooperative Bank for seeing our vision of a regional food hub that will redefine how food hubs operate. This award will support our membership recruitment and will help us find and build out a perfect location for our distribution food hub center,” said Mike Vetere and Sara Mayben, commissioners for the Montana Food Hub.
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, D.C., the Bank has offices in Alaska, California, New York, Ohio, and Virginia. To learn more, visit ncb.coop.
September 6, 2024 (Atlanta, GA) – Capital Impact Partners has selected 16 real estate developers from the city of Atlanta and its surrounding counties for the region’s inaugural cohort of the EDI program.
This free nine-month program will help Atlanta’s emerging real estate developers becomemore involved in the region’s booming real estate market — and, in turn, to bring more affordable housing and other community-driven real estate projects. Â
The EDI program is a landmark program created by Capital Impact Partners in 2018 in the Detroit region. Since then, the program has trained more than 250 real estate developers and expanded to several metropolitan areas throughout the United States.
From August 2024 through May 2025, program participants will receive the tools they need to grow their businesses — including training, technical assistance, mentorship, networking, and potential pathways for financing.
These 16 emerging developers are seeking to develop real estate in the city of Atlanta, as well as Clayton, Cobb, DeKalb, Douglas, Fulton, or Gwinnett counties:
Ray Acosta, Dacula
Miles Alexander III, Jonesboro
Terry Brantley III, Atlanta
Shelita Compton, Kennesaw
Aaron Davis, Decatur
Ashley Davis, Mableton
Majesty Gayle, Atlanta
Derrick Holland, Tucker
Tomond Jack, Decatur
Michael Oden, Marietta
Marissa Phipps, Tucker
Melvin Phillips, Atlanta
Charles Robinson, Atlanta
Lester Simpson, College Park
Raven Thompson, Atlanta
Ramon Tookes, Atlanta
“I’m pleased to welcome these 16 real estate developers and am excited not only to work with them over these next nine months, but also to see the impact they will create in our region’s communities for the betterment of their residents,” said Tommy Lester, manager of Atlanta initiatives for Capital Impact Partners. The mission-driven lender is part of the Momentus Capital branded family of organizations, which also includes CDC Small Business Finance.
A Need for More Affordable Housing Units in Atlanta
All of this has also made it more difficult for people living with low-to-moderate incomes to find housing, especially when they do not qualify for subsidies. And the increase in housing costs has also made it more expensive for the region’s residents to travel between their jobs and where they can afford to live.
How the EDI Program Can Help
The EDI program is modeled after the successful program that Capital Impact Partners launched in Detroit in 2018. It has since expanded into several other regions, including the Washington, D.C. metro area; the San Francisco Bay Area; Dallas; and Cleveland.Â
Capital Impact Partners also hosted a similar program in Austin called the Small Developer Training and has run other programs for more experienced developers.
Graduates of these programs have gone on to create important projects for their communities. For example, Edward Carrington, a graduate of the Detroit program, is building The Ribbon, a mixed-use building with one commercial unit and 18 affordable residential units; and Ayesha Hudson, a graduate of the D.C.-area program, recently created nine new affordable housing units and preserved four existing affordable housing units.
“The EDI program gave me a good foundation for how to do commercial real estate development,” said Ms. Hudson. “It opened doors for me, gave me instant access to an expanded network that would have taken much longer to build on my own, and accelerated my path forward.”
In Atlanta, the EDI program has been specifically crafted to confront the top challenges real estate developers face in the region.
Developers will receive broad-based training — in areas such as obtaining funding, project budgeting, project and contractor management, site selection, sustainability, legal services, and community engagement — as well as local mentorship and network building. The curriculum will also include discussions about infill housing, missing middle housing, and transit-oriented development.
Program speakers will include representatives from government agencies as well as organizations that are seeking to create more opportunities for Atlanta’s communities.Â
And EDI participants will be connected with experienced real estate developers from Atlanta — including Leonard Adams, Daniel Alexander, Cassius Coleman, Joel Dixon, Darion Dunn, Sharon Guest, Cherie Ong, and Rod Teachy — who will serve as mentors or presenters.
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
August 19, 2024 (Arlington, VA/San Diego, CA) – Capital Impact Partners, one of the leading mission-driven nonprofit lenders in the United States, has now deployed more than $3 billion in lending since its founding in 1982 — much-needed financial capital that helps invest in communities.
That financial capital supports affordable housing, quality health care and education, cooperative development, healthy food and dignified aging facilities. Capital Impact Partners reached the milestone by financing projects that increase access to these fundamental social services.
Capital Impact Partners was founded at the direction of the United States Congress to support the development of cooperatives. In the decades since, Capital Impact Partners has broadened the types of projects it supports and has incorporated a place-based strategy, concentrating its work in several geographic focus areas throughout the country.
Capital Impact Partners reached its first $1 billion in lending nearly 25 years after its founding and has rapidly scaled up, surpassing $2 billion in 2014, $2.5 billion in 2018, and $3 billion in 2023.
“Reaching $3 billion in lending is a significant investment. More important than that is what that investment represents — funding that helps open the doors for the opportunities that everyone deserves,” said Ellis Carr, president and CEO of Capital Impact Partners and CDC Small Business Finance, both of which are part of the Momentus Capital branded family of organizations.
Throughout its 42-year history, Capital Impact Partners’ lending has delivered social impact across these sectors:
Aging in Community: more than $125 million, supporting older adults with dignified community living
Cooperative Development: more than $300 million to worker-owned and resident-owned cooperatives
Education: nearly $1 billion, providing access to education for nearly 3,000 students annually
Healthy Food: more than $200 million, providing more than 1.1 million people with healthy food options
Health Care: more than $1 billion, expanding access for nearly 3 million patients
Affordable Housing: more than $650 million, creating nearly 45,000 units of housing
Of the more than $3 billion in financing from Capital Impact Partners, more than $1.6 billion has been invested in Momentus Capital’s focus regions, supporting communities in Atlanta, Dallas/Fort Worth, Detroit, Los Angeles, the San Francisco Bay Area, and the Washington D.C. region.
And as part of the Momentus Capital branded family of organizations, Capital Impact Partners is poised to do even more in the years to come.
Capital Impact Partners and CDC Small Business Partners, two nationally renowned nonprofits with decades of experience, formally came together under a shared mission and vision in 2021 and launched the Momentus Capital brand in 2022. The family of organizations also includes their affiliates: Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies.
Joining together as Momentus Capital has created an ability to support economic and community development more effectively, and at a larger scale. And it provides clients with access to more resources and products.
Served 627 small businesses and real estate developers
Created or preserved 5,700 jobs
Created or preserved 1,628 affordable housing units
Funded educational facilities and businesses serving a total of 948 students
Funded health care facilities and businesses serving a total of 57,807 patients
Funded healthy food businesses providing an estimated 424,000 people with expanded access to food
Momentus Capital continues to seek innovative ways to drive more financial capital to those who need it.
That includes launching Momentus Securities, an investment bank that seeks to break up the logjam between the small business owners and community organizations that need financing, the mission-driven lenders that want to help them, and the institutional investors that seek to support these transactions.
And it also includes raising $171 million for impact investments, which differ from traditional debt capital and traditional venture capital by providing entrepreneurs with options beyond traditional debt, and by ensuring that these entrepreneurs maintain control of their companies. Momentus Capital’s impact investments aim to accelerate the growth of companies that are creating positive impact in communities, including through access to health care and healthy food.
Capital Impact Partners and the Momentus Capital branded family of organizations also recognize that financial capital is not the only way to support entrepreneurs and communities. Knowledge capital (what you know) and social capital (who you know, who knows you) are also important. That is why Capital Impact Partners provides free, extensive training programs for real estate developers throughout the country who are working to bring more affordable housing and other needed developments to communities.
“I am proud of the continued commitment shown every day by our talented and passionate team. We also did not get here alone — nor will we be moving forward on our own,” Mr. Carr said. “Momentus Capital cannot fulfill its mission without the support of the community leaders and stakeholders who guide us on how best to help; the local and national partners who join alongside us on projects and initiatives; and the organizations and investors who provide us with grants and other key funding that makes all of this possible.”
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About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
CDC Small Business Finance, part of the Momentus Capital Branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As the nation’s leading mission-based small business lender, CDC Small Business Finance helps build strong communities and create generational wealth by deploying mission-driven financing and free business advising to the small businesses that are the backbone of their communities and the country.
CDC Small Business Finance delivers small business and commercial real estate loans paired with free technical assistance to bolster entrepreneurship, economic development, and job creation.
We offer numerous loan products, including the Small Business Administration (SBA) 504 commercial real estate loans, SBA Community Advantage loans, and SBA Microloans. In addition, we offer non-SBA products to provide alternative options for those unable to qualify for traditional financing. CDC Small Business Finance also offers free business advice to support potential borrowers in getting loan-ready and to help our current borrowers grow and expand their businesses.
Since 1978, CDC Small Business Finance has provided more than $21.3 billion in financing to 12,500 borrowers and helped create and preserve over 217,000 jobs.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
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