New Board Members and Leadership Milestones for Our New Enterprise with CDC Small Business Finance
Earlier this year, we announced the formation of an exciting new enterprise uniting Capital Impact Partners and CDC Small Business Finance under a single national strategy and leadership team.
Our vision is bold – to reimagine the traditional tools and approaches that have failed to address systemic issues of inequality and the widening racial wealth gap. We are excited to share the latest milestones in our journey.
Formal Combination
July 15th, 2021 marks the formal combination of Capital Impact Partners and CDC Small Business Finance. Getting to this point took the hard work of all our staff, our board members, the support of community-based partners across the country, and the faith of major donors. I want to thank all of those involved who have worked hard to bring this vision to reality.
Leadership Transition
Our coming together also signifies the last step in our leadership transition between Kurt Chilcott and me as I officially assume the role of president and CEO of both Capital Impact Partners and CDC Small Business Finance.
I want to take this moment to celebrate and congratulate Kurt. His 23 years at the helm of CDC Small Business Finance as a leader, visionary, partner and friend has left a true legacy and positive imprint on so many people and communities across the nation.
I’m excited that Kurt remains dedicated to our mission and making a difference. His commitment continues in his new role as the chair of both the CDC Small Business Finance and Capital Impact Partners Board of Directors. For me, Kurt has forever changed my own leadership journey, and I’m grateful he will continue to provide guidance and support in his new role as board chair.
Board of Directors
I am also excited to announce the support of three new members to the our Board of Directors of our new enterprise:
- Oswaldo Acosta, President & CEO, CityFirst Enterprises
- Grace Chionuma, Executive Director, Public Finance Banking Group, Morgan Stanley
- Gary Cunningham, President & CEO, Prosperity Now
Each of these individuals are not only leaders in their respective fields, but bring incredible passion for driving social impact. Oswald, Grace, and Gary, along with our existing board members, bring the diversity in viewpoints and expertise we need to reinvent financial systems and ensure they are equitably serving Black, Hispanic, and Indigenous communities. Only by transforming existing systems that have long failed communities of color can we help drive the kinds of community-led solutions that truly support economic mobility and wealth creation for which we are all striving.
Stronger Together
While we have hit another milestone, we still have a long journey ahead of us to achieve this ambitious agenda. We are growing our team. We are expanding our network of partners. We are challenging funders to support us. Each of you has an important role to play to ensure that equitable opportunity exists for communities to shape their future.
That is what Stronger Together looks like.
