A Fond Farewell

By Terry Simonette, outgoing President & CEO

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As I think about my 32 years with Capital Impact Partners, I am overwhelmed when I consider the thousands of stakeholders that have made contributions to our work of helping people and communities across the country reach their highest potential.

This army of people and organizations, all part of the ongoing and thriving community development finance sector, includes partners who have worked shoulder-to-shoulder with us; investors whose capital participation helped us stand up a strategy that continues to generate high impact outcomes; foundations whose contributions increase our capacity and enable transactions that otherwise would not be possible; and our many board members whose selfless contribution of their time and talent helped to guide us in our endeavor. In my mind, they are our real heroes.

Opening Up Possibilities in Co-op Innovation

By Clair A. McDevitt, writer

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Since Benjamin Franklin launched the first mutual fire insurance company in 1752, the cooperative sector has seen waves of success in the United States. Dairy and cheese coops were first organized in the early 1800s, and other agricultural cooperatives followed. By the Great Depression, cooperative businesses were developing in urban and rural areas, bolstered by President Roosevelt’s New Deal legislation. In the late 1960s and 1970s, a new wave of consumer food co-ops grew out of the counterculture movement.  In 1981 Capital Impact was born out of federal legislation to keep up that momentum.  And for the last four decades, Capital Impact has sought to do this through a mix of financing, capacity building and technical support.

Putting Down Roots For A Better Future

By Alison Powers, Program Officer

More than 10,000 low-and-moderate income homeowners are sleeping better at night thanks to our partner ROC USA. Instead of worrying about rent increases or land sales that might force them to move, residents of manufactured-home communities (what many commonly refer to as mobile home parks) across the country have purchased their land and put down roots through ROC USA’s cooperative ownership program.

Since 2008, the nonprofit social venture’s innovative model has spun off 182 resident-owned communities in 14 states, ranging in size from eight to 300 dwellings. The 10,000th home was recently secured at Turnpike Park Cooperative in Westborough, Mass.

What Does it Mean to Age Strong?

By Candace Baldwin, Director of Strategy, Aging in Community

Making a community a great place to live and work while also supporting the needs of low-income and vulnerable older adults is difficult. It takes patience, planning, and a group effort.

With this goal in mind, Capital Impact Partners joined with the AARP Foundation and Calvert Foundation to create the Age Strong initiative. Our goal? To build a first of its kind program that enables all of us – whether individuals or retail operators or philanthropic enterprise – to support strong and vibrant communities that can help low-and-moderate income individuals who are 50 and older to age with dignity, independence, and security.

Collaboration for Co-operative Improvement

By Clair A. McDevitt, writer

Picture it: the freezer breaks and you’re scrambling to save all your frozen food. In a home, a big cooler or the generosity of a neighbor may solve your problem – but for a grocery store, the goods in a broken freezer cannot be housed at a neighbor’s house until the freezer is fixed.

Customer_BulkHoney_blogThe freezer, top of the line when it was purchased in the 1970s, was just one challenge faced by First Alternative Cooperative, a community co-op market in Corvallis, Oregon. Along with replacing equipment, including its critical point-of-sale system, which was past its prime, the grocery store needed to make some building improvements and consolidate debt to improve its cash flow.

A Holistic Approach to Healthy Food Financing

 

By Scott Sporte, Chief Lending Officer

Healthy food financing isn’t just about health.

HFF_blog_familyThere is no doubt that improving access to fresh, nutritious foods in low-income communities can help people improve eating habits and prevent diet-related diseases, such as obesity, high blood pressure, diabetes, and heart disease.

But the impacts for people and communities are even greater than that.

California Health Clinics and Financing to Meet ACA Implementation

By Scott Sporte, Chief Lending Officer

SanYsidro_dentist_blogThe Affordable Care Act (ACA) sets out to provide access to health care for all. The ACA will only be fully implemented in California when all people, including low-income residents in underserved communities, have local access to quality, affordable care.

Community health centers and clinics (CHCs) play a vital role in this effort by providing preventive and primary care to patients in California – and across the nation – regardless of their ability to pay. Since 2009, health centers have increased the number of patients served from 17 million to 23 million annually. With the ACA’s implementation, however, it is estimated that CHCs will need to serve 35 million patients in the coming years.

Investing in Detroit’s Comeback: Optimism & Challenges on the Road to Inclusive Growth

By Bradford Frost, Director, Detroit Program

2015 was a year of optimism for post-bankruptcy Detroit.

We saw significant investments pour in, including the first projects due to the $100 million pledge from JP Morgan Chase. Combined with the $30 million Woodward Corridor Investment Fund, new and rehabbed buildings are getting developed at a fast clip. Thousands of new streetlights are on. Blight is being tackled at a faster pace than ever before. Detroit’s comeback story is replacing the apocalyptic headlines of recent memory.

Finding the Right Partners to Make a Difference in Underserved Neighborhoods

By Ian Wiesner, business development manager

For many of us, a weekend trip to the grocery store or farmers market to buy fresh produce is such a regular part of our routine that it hardly merits a second thought. But for many others, access to fresh produce may be an hour-long bus ride away. A balanced diet is necessary for health and wellness, but not everyone has access to good nutrition. More than 23 million Americans live in areas where fresh food isn’t easily accessible, and many are residents of inner city, underserved communities.

The Values that Guide our Work

As a mission-driven lender, our core values of cooperation, leadership, commitment, diversity, innovation, and trust are the foundation of Capital Impact Partners’ work. They shape our culture. They underlie our decisions and actions. They help define our brand and strategy. They guide our relationships with borrowers, partners, investors, staff and the communities we serve. Simply put, our values inspire us to do our best every day.

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