June 17, 2024 (Atlanta, GA) – A new program will help Atlanta’s emerging real estate developers become more involved in the region’s booming real estate market — and, in turn, to bring more affordable housing and other real estate projects to the communities they serve.
The EDI program is a free nine-month program led by Capital Impact Partners. Since 2018, the program has trained more than 250 real estate developers in five metropolitan areas throughout the United States. The Atlanta region will become the sixth.
The EDI program provides emerging developers with the tools they need to grow their businesses — including training, technical assistance, mentorship, networking, and potential pathways for financing.
“EDI is designed to help developers who are working to develop communities for the betterment of their residents and will benefit from having access to financial capital, social capital, and knowledge capital,” said Ellis Carr, president and CEO of Capital Impact Partners andCDC Small Business Finance, two nonprofit mission-driven lenders that are part of the Momentus Capital branded family of organizations.
“Helping local developers is important everywhere, including in the Atlanta metropolitan area, where continued growth is being accompanied by skyrocketing housing prices and an even greater need for more housing throughout the spectrum of affordability,” Mr. Carr said. “We are proud to join in with the many local stakeholders who have been working to ensure that everyone in Atlanta has the opportunities they deserve in order to thrive.”
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 Washington, D.C.; the San Francisco Bay Area; Dallas; and Cleveland.
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.
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.
The award is featured in Novogradac Journal of Tax Credits’ annual Community Development QLICIs of the Year Awards, which celebrate community development entities that made exceptional qualified low-income community investments, or QLICIs.
In 2023, Whitman-Walker opened a new, larger site for its Max Robinson Center in the southeast D.C. neighborhood of Congress Heights, helping ensure quality health care for community members in that region of the city. The 118,000-square-foot medical facility provides a variety of primary care, dental care, and behavioral health services, as well as important health care and policy research.
Capital Impact Partners provided the project with $4 million in financing through New Markets Tax Credit (NMTC) allocation. In total, this project received more than $32 million of NMTC allocation from Capital Impact Partners, Chase, Jubilee Manna Community Development Enterprise, D.C. Housing Enterprises, and Industrial Bank. Additional financing support was provided by Chase as the NMTC investor and EagleBank as lender. Diarra McKinney, a D.C.-based developer who runs Rosewood Strategies, was the project’s NMTC consultant. Mr. McKinney is also a participant in Capital Impact Partners’ Growing Housing Developers program for training and mentoring community-rooted developers.
“We’re proud to support Whitman-Walker, a longstanding and respected health organization that provides quality, affordable care,” said Mindy Christensen, senior vice president, community development lending for Capital Impact Partners, part of the Momentus Capital branded family of organizations. “This expansion allows Whitman-Walker to serve more than 15,000 unique patients per year, an increase of 10,000 patients. And the additional space also means the creation of more new jobs.”
With three locations in the city, Whitman-Walker provides primary medical care, behavioral health care, dental care, and a range of health-related legal and support services to more than 20,000 individuals and families annually in the greater Washington, D.C. region.
“Whitman-Walker envisions a society where all people are seen for who they are, treated with dignity and respect, and afforded equal opportunity to health and wellbeing. That’s why for more than 30 years, our Max Robinson Center has been located in Ward 8 of Washington, D.C., where many of our community members live well below the poverty line,” said Naseema Shafi, CEO of Whitman-Walker Health. “The funding we’ve received allowed us to expand the Max Robinson Center into a new location, which means we have been able to expand our services to care for more people in an area where health care is crucial yet often not as accessible.”
The federally administered New Markets Tax Credit Program helps mission-driven lenders like Capital Impact Partners attract private investment capital to communities. The program provides individual and corporate investors with a federal tax credit in exchange for making investments in businesses or economic development projects. This incentive bolsters mission-driven lenders’ ability to provide loans to projects delivering social impact in communities across the country.
Capital Impact Partners has received $742 million in New Markets Tax Credit Allocation and deployed $729 million to 91 projects that have delivered social impact and created economic mobility and wealth creation. Capital Impact Partners is primarily focused on using its tax credit allocation in support of health care, education, and food system developments.
Capital Impact Partners and CDC Small Business Finance are each part of the Momentus Capital branded family of organizations, which also includes their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies. Momentus Capital works to expand capital and opportunities for communities, providing them with the momentum they need for success.
This is the latest recognition for the Momentus Capital branded family of organizations:
CDC Small Business Finance was named the Community Advantage Lender of the Year in the SBA’s Michigan District for Fiscal Year 2023. CDC Small Business Finance was also named the Community Advantage lender of the year and a Top 10 lender of the year in the SBA’s Michigan District for Fiscal Year 2022.
CDC Small Business Finance also was named the top SBA Community Advantage lender in the Fresno (Calif.) District for Fiscal Year 2022.
Team members Ken Rosenthal and Stacey Sanchez received two top honors from Coleman Report in 2022 as the leading banking publication’s SBA Business Development Officers of the Year.
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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.
The annual report showcases the many ways that Momentus Capital utilizes financial capital, social capital, and knowledge capital to help entrepreneurs, community leaders, and the communities they serve.
May 1, 2024 (Washington, D.C.) – More than $700,000 in grants have been awarded to 22 food businesses and nonprofits to help them grow while expanding access to healthy food for communities in the Washington metro area.
The “Keeping It Cool” grants, funded by The Morningstar Foundation, provide these businesses and nonprofits with something essential that many might otherwise take for granted — cold storage infrastructure. The grants will go toward refrigerators, freezers, coolers, delivery vehicles, display cases and other upgrades.
This year’s small business recipients include local restaurants, grocery markets, meal kit manufacturers, meal delivery services, farms and farmers’ market vendors. Nonprofit grantees include kitchen incubators, food pantries, food banks, and other services dedicated to making sure that people have access to healthy, fulfilling meals.
This is the second year that The Morningstar Foundation has funded the “Keeping It Cool” grants. Additional support was provided by the Bainum Family Foundation and the Wells Fargo Foundation.
“We are thrilled to support Keeping It Cool this year because we recognize the ongoing, significant challenges related to food access through the region. Additional cold storage is critical to getting healthy food to populations that need it most,” said Susie and Michael Gelman, Directors of The Morningstar Foundation. “We understand that different organizations and entrepreneurs have distinct needs, and we also have learned more about differences throughout the region. Keeping it Cool not only provides resources to purchase the cold storage while also providing technical assistance tailored to support specific needs for each entity. We are proud that Keeping it Cool makes a difference to these innovative organizations and food businesses while also strengthening economic development in our region.”
“Adding cold storage can help businesses and nonprofits overcome a huge barrier to growth so that they can serve more people in their communities,” said Alison Powers, Director of Economic Opportunities at Capital Impact Partners. “These grants are not just about keeping food cool. They will allow these businesses and nonprofits to create quality jobs, increase energy efficiency, and improve food safety and food access.”
The grantees are located in D.C. and the surrounding area in Maryland and Virginia: Arlington, Fairfax, Montgomery, and Prince George’s counties.
“Healthy Fresh Meals has been expanding its partnerships with the Senior Nutrition Program in the state of Maryland and beyond to provide healthy and nutritious meals to seniors aging in place,” said owner Shana Greenbaum. “We are running into cold storage issues to keep up with our growing programs, so this money will help us build out a new walk-in cooler to store all the daily meals that go out for all of our programs. We will be able to increase demand thanks to this new addition and take on more partners, such as Meals on Wheels, to increase access.”
“The freezers help Bridges to Independence to accept more donations of perishable items, reducing food waste and providing a wider variety of healthy options for the children and families staying at our emergency shelter for families, Sullivan House,” said Fraser Murdoch, CEO of Bridges to Independence. “The added freezer capacity improves nutrition for the families and creates a more stable and comforting environment during what can be a challenging time. The grant enhances the emergency shelter’s ability to provide food and promotes the well-being and health of the families we serve.”
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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 1, 2024 (Arlington, VA) – Thirteen real estate developers from the Washington, D.C., area have been selected for the second cohort of the HEAF program, a free two-year program created by Amazon and Capital Impact Partners.
HEAF is designed to provide these developers with the resources they need to grow their businesses and bring more affordable housing to the region.
Participating developers receive:
Real estate training with a focus on affordable housing production in the D.C. metropolitan area
Small-group mentorship from other experienced real estate developers
Pathways to potential capital for project expenses such as architectural and engineering costs; permitting, survey, and site-planning fees; market and feasibility studies; and contribution towards equity. These funds are often the most difficult and most expensive to raise for developers
Access to a rich network of other real estate developers in the greater Washington D.C. area
The program is led by Capital Impact Partners, a mission-driven nonprofit headquartered in the D.C. area. Capital Impact Partners has worked with more than 300 real estate developers around the country on similar programs, including the first cohort of the HEAF program, which launched in 2022 and featured 15 area developers.
Funding for the second cohort of HEAF is provided by the Amazon Housing Equity Fund.
Amazon has committed more than $3.6 billion through its Housing Equity Fund to preserve and create more than 35,000 affordable homes in three communities where it has a high concentration of employees — the Arlington, Virginia region; the Puget Sound region of Washington state; and Nashville, Tennessee. The Fund strives to create housing developments and preserve existing housing through below-market loans and grants to non-traditional and traditional housing partners, public agencies, and organizations supporting communities.
“These 13 developers bring impressive experience within the real estate industry and a collective desire to make a difference through their work by providing affordable housing and other important projects that can help communities thrive,” 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.
“The graduates of the first HEAF cohort are continuing to use the training and funding they received to create and retain affordable housing and mixed-use developments in the D.C. area,” said KellyAnn Kirkpatrick, Amazon’s Senior Product Manager, Housing Partnerships and Grants. “I’m excited by the additional opportunities that will come for — and be created by — this second class of developers.”
Current Participants & Recent Success Stories
HEAF participants are experienced real estate developers who have reached a key point in their careers where additional training, mentorship, and potential access to funding can accelerate existing projects and help them to become more established in the field.This second cohort’s participants are:
(*We are deeply saddened by the loss of Ali Semir, who passed away in fall 2024. His spirit and impact will not be forgotten.)
“I’m building homes where I live. I’m a member of this community and I am trying to foster the values that I believe in,” said Mehul Vora of Vora Ventures. “My goal as a neighbor is to enhance the quality of life in our neighborhoods. For my family, for their family, and for the families to come.”
Participants from the first HEAF cohort have been working on several development projects. For example, Chris Agorsor is planning to convert a former office building in Downtown D.C. into 145 new apartments that will provide affordable housing for residents earning below 80% of the area median income, a designation guaranteed for several generations to come. And Ronette Slamin completed a deal to preserve and improve 23 affordable apartments in the Kalorama neighborhood.
“This wouldn’t have been possible without HEAF and the financial support, mentorship and other resources we received,” said Ms. Slamin. “The grant capital allowed me to purchase the building and gain valuable project experience that will help me with future developments. I am also grateful for both my individual mentor and the program’s mentor, who gave me insight about being a developer, how to create a successful company and finance a feasible project, and to talk through the details of this project. Being able to work through issues and know I wasn’t alone in this process was amazing.”
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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.
April 15, 2024 (Arlington, VA / San Diego, CA) – The Momentus Capital branded family of organizations has been named one of the best nonprofit employers in the United States, according to The NonProfit Times, the leading publication for nonprofit managers.
Momentus Capital was ranked as the #3 large-sized nonprofit — which includes organizations with 250 or more employees — and #17 overall for organizations of any size.
The Momentus Capital branded family of organizations includes several mission-driven organizations that are dedicated to providing people with access to the capital and opportunities they deserve. These organizations include Capital Impact Partners, CDC Small Business Finance, and their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies.
“It is an honor that The NonProfit Times recognizes the great work we are doing at Momentus Capital. We strive to promote a culture where employees are motivated to perform at their best, are excited by the work they do, support the customers and communities we serve, and have a sense of belonging,” said Kim Dorsett, Chief Human Resources Officer for the Momentus Capital branded family of organizations.
“Our strong core values inspire us to be intentional in our actions as we do our best every day to achieve our mission and vision,” Ms. Dorsett added. “They serve as a compass for the work we do. They also guide our relationships with teammates, borrowers, partners, investors, and the communities we serve to ensure we are effectively showing up in a way that best represents Momentus Capital.”
April 1, 2024 (Arlington, VA) – Capital Impact Partners, a nonprofit corporation certified by the U.S. Department of Treasury’s Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI), announced that it has secured a second-party opinion, or SPO, from S&P Global Ratings stating that Capital Impact’s Social Bond Framework related to the current offering of $200 million of its Capital Impact Investment Notes is fully aligned with international standards, including the 2023 Social Bond Principles published by the International Capital Market Association (ICMA) and the 2023 Social Loan Principles published collectively by the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA), and the Asia Pacific Loan Market Association (APLMA).
Social Bond Principles outline stringent eligibility criteria for social projects that Capital Impact Partners may finance and require that the net proceeds of its Impact Investment Notes offering be used for eligible uses, primarily to fund social projects in the affordable housing, education, health care, and food security sectors, and to projects that advance its social mission.
“We are delighted to receive this second-party opinion from S&P Global Ratings,” said Natalie Gunn, Chief Financial Officer of Capital Impact Partners “At Capital Impact Partners, we are committed to providing a continuum of capital to help communities have the chance they deserve to thrive.”
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Disclaimer
The second party opinion is not a credit rating. It is a point-in-time second opinion on a seeker of finance’s financing framework’s alignment with the certain international green, social or sustainability bond or loan financing guidelines. The opinion reflects Capital Impact Partners’ financing framework only, and does not consider individual financing transactions. The opinion remains effective until such time as there is a change in the financing framework or the relevant financing guidelines.
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 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 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’s present intentions and on Capital Impact’s present expectations and assumptions. These statements, intentions, expectations, and assumptions involve risks and uncertainties, some of which are beyond Capital Impact’s 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 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.
MARCH 22, 2024 (Arlington, VA/San Diego, CA) – Melissa Stallings — the Director of Washington, D.C., Maryland, and Virginia (DMV) Initiatives for the Momentus Capital branded family of organizations — has been honored with an award by the Washington Business Journal.
These awards recognize the entrepreneurial drive, creativity and success of the recipients. The honorees were judged based on their professional accomplishments, community leadership and philanthropy.
Ms. Stallings joined Momentus Capital at the start of 2022 and has made a significant impact with her work over these past two years. She leads programs that help entrepreneurs to grow their businesses, close the wealth gap, and create more affordable housing, jobs, and other opportunities for the communities they serve.
“These are entrepreneurs who don’t often have easy access to capital compared to their counterparts,” Ms. Stallings said. “We’re helping them through a number of resources, including flexible capital, technical assistance, educational programming, and expanding their network.”
Momentus Capital’s resources have included three signature programs that support small business owners and real estate developers in D.C., Maryland, and Virginia.
The HEAF program, funded by Amazon, is a two-year program for real estate developers in the Washington Metropolitan region. Ms. Stallings launched and led the first cohort of 15 real estate developers from 2022-2023, providing training, mentorship, and a total of $4 million in predevelopment grants with $26.7 million in leveraged capital from Momentus Capital that went directly to real estate developers who are building and preserving affordable housing in the region. The program will return in 2024 for its second cohort. Ms. Stallings also runs the D.C. area EDI program, which similarly supports emerging developers with training, mentorship, and pathways to financing.
“From day one, Melissa has focused on the perspectives and needs of our partners in the community, listening first to inform the design of our programs and products in the region,” said Lauren Counts, senior director and head of national programs for Momentus Capital. “It is thanks to our local leaders working collaboratively with our partners that we have been able to grow the capital and expand the services we are providing to entrepreneurs across the region.”
For Ms. Stallings, a native Washingtonian who grew up in the District’s Bloomingdale neighborhood, her professional focus comes out of a sense of responsibility.
“I’m paying it forward by supporting people who are achieving their dreams, the same way that people helped me with mine,” Ms. Stallings said. “My family sacrificed to provide opportunities for me, refusing to allow my circumstances to define who I was and who I would later become.”
This is the latest recognition for the Momentus Capital branded family of organizations:
CDC Small Business Finance also was named the top SBA Community Advantage lender in the Fresno (Calif.) District, and the Community Advantage lender of the year and a Top 10 lender of the year in the SBA’s Michigan District.
Team members Ken Rosenthal and Stacey Sanchez received two top honors from Coleman Report in 2022 as the leading banking publication’s SBA Business Development Officers of the Year.
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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.
March 18, 2024 (Arlington, VA) – For the seventh straight year, Capital Impact Partners has been selected for the ImpactAssets 50 — a free, annual database for impact investors, family offices, corporations, foundations, and institutional investors that features a listing of private capital fund managers delivering social and environmental impact as well as financial returns.
Capital Impact Partners also remains on ImpactAssets’ Emeritus Impact Managers list, which illuminates impact fund managers that have achieved consistent recognition for at least five years on the ImpactAssets 50. Only 46 of the 155 fund managers on this year’s ImpactAssets 50 have received the Emeritus Impact Managers label.
Capital Impact Partners, a leading mission-driven Community Development Financial Institution (CDFI), began offering its Capital Impact Investment Notes in 2017. The Investment Notes allow retail and institutional investors the opportunity to invest in the organization’s nationwide efforts to create social impact for communities.
Available for as low as $1,000, individual and institutional investors can purchase Investment Notes through their brokerage account. In its 42-year history, Capital Impact Partners has invested more than $3 billion to serve 6 million people and created more than 38,000 jobs in sectors critical to building communities.
“The ImpactAssets 50 is a valuable database for investors who are seeking both financial and social returns on their investments. We are honored to be included for seven years in a row,” said Jaret Ings, senior director of finance and treasurer for Capital Impact Partners. Capital Impact Partners is one of the Momentus Capital branded family of organizations, which also includes CDC Small Business Finance and Ventures Lending Technologies, among other organizations. “The support we receive from investors helps us continue this important work, which is centered on seeking community-led solutions so that everyone can have access to the capital and opportunities they deserve.”
Impact investing fills the funding gap between investors and communities. For example, it creates more opportunities for emerging developers, expands access to healthy foods, and increases the amount of affordable housing.
Funding from the Investment Notes helps expand Capital Impact’s national footprint to increase access to critical social services, including health care, education, healthy foods, affordable housing, cooperatives, and dignified aging facilities. To date, individuals and organizations have invested more than $400 million in Capital Impact Investment Notes.
In September 2022, Fitch Ratings assigned an A+ rating with a stable outlook to Capital Impact Partners and the issuance of up to $275 million of its Capital Impact Investment Notes (Notes). Fitch affirmed those ratings in July 2023. In September 2023, S&P Global Ratings raised its issuer credit rating (ICR) on Capital Impact Partners and its long-term rating on the Investment Notes from “A” to “A+” with a stable outlook.1
S&P Global Ratings raised its issuer credit rating (ICR) on Capital Impact Partners and its long-term rating on the Investment Notes from “A” to “A+.” The outlook is stable. Please check the Pricing Supplement for the S&P Global credit rating assigned to Notes currently being offered for sale. An S&P Global credit rating is not a recommendation to buy, sell or hold Notes and may be subject to suspension, reduction or withdrawal at any time by S&P Global. ↩︎
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Disclaimer
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 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 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’s present intentions and on Capital Impact’s present expectations and assumptions. These statements, intentions, expectations, and assumptions involve risks and uncertainties, some of which are beyond Capital Impact’s 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 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 IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment options. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.
The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement, or recommend specific products. Nor is this an endorsement of any of the listed fund managers. It is not a replacement for due diligence. To be considered for the IA 50 2024, fund managers needed to have at least $25 million in assets under management, more than three years of experience as a firm with impact investing, documented social and/or environmental impact, and be available for U.S. investment. Additional details on the selection process are available here.
The IA 50 Emerging Impact Managers list is intended to spotlight newer fund managers to watch that demonstrate potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.
The IA 50 Emeritus Impact Managers list illuminates impact fund managers who have achieved consistent recognition on the IA 50.
About ImpactAssets
ImpactAssets is an impact investing trailblazer dedicated to changing the trajectory of the planet’s future and improving the lives of all people. As a leading impact investing firm, ImpactAssets offers deep strategic expertise to help its clients define and execute on their impact goals. Founded in 2010, ImpactAssets increases flows of money to impact investing in partnership with its clients through its impact investment platform, philanthropic solutions, and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers. ImpactAssets has more than $3 billion in assets, working with purpose-driven individuals and their wealth managers, family offices, foundations, and corporations. ImpactAssets is an independent 501(c)(3) organization.
OCTOBER 17, 2023 (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.
“We assembled our annual Power 100 list of the most influential business leaders with the pending revival of Greater Washington top of mind,” wrote Washington Business Journal Editor-in-Chief Douglas Fruehling. “Who has the courage to stand up and discuss our problems without holding back? Who has the leadership skills — and, sometimes, the dollars — to make a difference? Who can we count on?”
Mr. Carr was one of 25 business leaders featured in the “Big Money & Financiers” section, which includes “the bankers, investors, and private and public behemoths driving the Greater Washington economy.”
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