Capital Impact Partners Awarded $6.14 Million Through the CDFI Program
Grants will support lending products, healthy food initiatives, and supportive housing.
March 3, 2023 (Arlington, VA) – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced this week (PDF) that Capital Impact Partners was awarded $6.14 million in grants through the fiscal year 2022 round of the CDFI Program.
The CDFI Program awarded a total of $199.4 million to 435 organizations.
These grants will enable Capital Impact Partners to expand its efforts to create new, innovative lending products for emerging real estate developers in Dallas, expand support for healthy food businesses in Washington, D.C., and increase supportive housing in the San Francisco Bay Area.
“We are grateful to the CDFI Fund for this substantial support that will be leveraged with our balance sheet capital to significantly expand three critically important financing initiatives,” said Ellis Carr, president and CEO of Capital Impact Partners. “These awards will increase our work to build healthy communities and generational wealth in communities in Texas, the District of Columbia, and California.”
A $640,000 Financial Assistance (FA) grant was awarded to Capital Impact Partners to launch an affordable and flexible acquisition loan product for real estate developers in Texas, focusing on Dallas for affordable housing projects and community facilities. Real estate developers in Texas will also be supported with training and technical assistance through the expansion of the EDI program offered in partnership with the City of Dallas.
In addition, Capital Impact Partners received a $5 million Healthy Food Financing Initiative Financial Assistance (HFFI-FA) award to build systems that provide economic opportunities and access to healthy, affordable food. The HFFI-FA award will be targeted to support retail projects in Washington, D.C., where Capital Impact serves as the fund manager for the Nourish DC Collaborative. This will build upon the organization’s Michigan Good Food Fund work and experience financing independent grocers, local wholesalers, food hubs, processors, and businesses providing healthy food access.
Capital Impact Partners also received a $500,000 Disability Funds-Financial Assistance (DF-FA) award for supportive housing in the San Francisco Bay Area for people with disabilities. This will expand 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.
About Momentus Capital
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, its clients now have access to more resources and products.
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.
Learn more at momentuscap.org.
