September 25, 2020 (Arlington, VA) – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced yesterday that Capital Impact Partners was awarded $3.5 million in grants through the 2020 round of the CDFI Program. The organization was the 4th highest awardee among the 357 organizations recognized. The awards will enable Capital Impact Partners to expand its efforts to create new lending products for emerging real estate developers in Washington, D.C.-Maryland-Virginia (DMV), expand support for healthy food entrepreneurs across California, and increase supportive housing in the San Francisco Bay Area.
“The impacts of COVID-19 we have witnessed this year require a dedicated and focused response to ensure that these communities do not lose additional assets that they bring to the table in support of strong, vibrant communities,” said Ellis Carr, president and CEO of Capital Impact Partners. “We are grateful for the support of the CDFI Fund to advance our work to champion access to capital and opportunity through these programs.”
A $557,000 Financial Assistance (FA) grant was awarded to help Capital Impact Partners expand its efforts to provide acquisition and predevelopment loans to developers in the DMV for affordable housing projects and community facilities. It is the organization’s goal to utilize the new loan products to create pathways of success for developers who have not been able to enter the real estate industry due to lack of capital, equity, and experience.
In addition, Capital Impact Partners received a $2.75 million Healthy Food Financing Initiative Financial Assistance (HFFI-FA) award to support equitable access to capital for healthy food entrepreneurs and retailers operating across California. This will build upon the organization’s Michigan Good Food Fund work targeting independent grocers, local wholesalers, food hubs, processors, and mobile fresh food marts and farm stands across that state.
Capital Impact Partners also received a $268,750 Disability Funds-Financial Assistance (DF-FA) award for supportive housing in the San Francisco Bay Area for people with disabilities. This will expand on the organization’s focus on housing issues in the region through its participation in the Bay’s Future Fund.
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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.
Learn more at capitalimpact.org and momentuscap.org.
