Ellis Carr, Capital Impact Partners and CDC Small Business Finance CEO, and Antony Bugg-Levine, Nonprofit Finance Fund CEO

Where We Go from Here: Opportunities for CDFIs to Center Communities and Drive Capital for Holistic Community Development

This blog also appears on the Nonprofit Finance Fund website. You can read it here.

Community Development Financial Institutions (CDFIs) were founded as part of the civil rights movement, to make access to capital more equitable for communities living with low incomes, often communities of color. However, despite the work of this part of the financial services industry, disinvested communities still suffer from unequitable capital access and thereby fewer opportunities for wealth building and shared prosperity. New models are needed to re-envision how transformation of community development can work for disinvested communities and develop local solutions to persistent issues.

Capital Impact and CDC Small Business Finance logos

Capital Impact and CDC Small Business Finance Align Operations Under One CEO to Transform How Capital Flows into Disinvested Communities (Blog)

We are excited to announce that Capital Impact Partners and CDC Small Business Finance are formally coming together to launch a transformative new enterprise and innovate how capital and investments flow into historically disinvested communities to advance economic empowerment and equitable wealth creation.

Leveraging our 80 years of experience, nearly $3 billion in assets, and strong ties to both large financial institutions and community-based organizations, Capital Impact Partners, and CDC Small Business Finance, the nation’s leading mission-based small business lender are now operating as one under Capital Impact’s current President and Chief Executive Officer Ellis Carr.

Capital Impact Partners CEO Ellis Carr and CDC Small Business Finance CEO Kurt Chilcott

Alliance CEOs – Opinion: Equitable revitalization critical to Detroit’s future (Detroit News)

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.


With a mission to empower equitable community growth, CDC Small Business Finance and Capital Impact Partners recently launched three place-based pilot programs as part of our new alliance. The pilots are in Detroit, Los Angeles, and Washington, D.C. Metropolitan (D.M.V).  Cross-organizational teams have been engaging with these communities to identify the unique issues of each city.

As part of the alliance’s focus on Detroit, CDC Small Business Finance’s CEO, Kurt Chilcott, and Capital Impact Partners CEO, Ellis Carr recently wrote an op-ed about their holistic approach to community and economic development that was published in The Detroit News.

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: Moving Beyond the Status Quo

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.

Tune in to the last video of our “CEO Conversations” series, “Moving Beyond the Status Quo.” Listen to CDC Small Business Finance’s CEO, Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss how the alliance will disrupt and to call to question the current operating practices to bring change to communities.

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: Disrupting the Distribution Channels

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.

Check out our 5th episode of our “CEO Conversations” series, “Disrupting the Distribution Channels.” Listen to CDC Small Business Finance’s CEO, Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss the opportunity ahead to disrupt the current distribution channels in order to get more capital to underserved communities.  

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: Redefining the Paradigm

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.

Check out our fourth episode of our “CEO Conversations” series, “Redefining the Paradigm.” Listen to CDC Small Business Finance’s CEO, Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss the alliance’s goal to use new mechanisms to unlock impact capital so it can be effectively utilized in underserved communities.

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: What Problems We’re Solving

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.


Tune in to the third video of our new series, “CEO Conversations” where CDC Small Business Finance’s CEO Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss what problems the alliance will be focused on solving.

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: Addressing the Wealth Gap at Scale

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies.

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future.


Welcome to the second video of our new series, “CEO Conversations,” where CDC Small Business Finance’s CEO Kurt Chilcott and Capital Impact Partners CEO, Ellis Carr discuss the new alliance.

CDC Small Business CEO Kurt Chilcott and Capital Impact Partners CEO Ellis Carr

Alliance Video Series – CEO Conversations: A New Alliance

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.

CDC Small Business Finance and Capital Impact Partners recently announced a new alliance between the two companies. 

We recognized that we had a special opportunity to create greater change together than we could individually in the communities we serve and beyond. This is an exciting journey we are embarking on and we want to share how the idea of creating an alliance came about and our vision for the future. 

Capital Impact Partners CEO Ellis Carr and CDC Small Business Finance CEO Kurt Chilcott

Capital Impact Partners and CDC Small Business Finance Announce Alliance

As of April 1, 2021, Ellis Carr, is now the president and CEO of Capital Impact Partners and CEO of CDC Small Business Finance. Kurt Chilcott, formerly president and CEO of CDC Small Business Finance, is transitioning to Board Chair of both organizations.


In 2020, Kurt Chilcott and Ellis Carr sat down for a video series of conversations about our alliance. You can also watch the whole video series here.

By Ellis Carr, President and CEO

Since 1982, Capital Impact Partners has helped people build communities of opportunity that break barriers to success. We have done that through learning and evolving with a range of investors, donors, community partners, and other Community Development Financial Institutions. 

As we looked to the future, we saw a tremendous opportunity to do more, give more, and make a bigger difference. With that in mind, more than a year ago, we began conversations with CDC Small Business Finance. Together, we recognized how our similar visions and complementary expertise, services and financing products could create a change that neither of us could accomplish independently.

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