The Guild and Bronx Cooperative Development Initiative each receive $25,000; ChiFresh Kitchen receives $50,000 prize
Arlington, VA (June 30, 2020) – The cooperative development model creates opportunities for economic mobility and for financial and community resilience, including during times of crisis. Three cooperative organizations were chosen to receive Capital Impact Partners’ Co-op Innovation Award, which aims to increase co-op development in communities with low incomes and/or communities of color. In partnership with The National Cooperative Bank, the 2020 awardees – ChiFresh, The Guild, and the Bronx Cooperative Development Initiative – received a total of $100,000.
Awards will support Washington Metro Area good food providers to offer healthy food to communities during the COVID-19 pandemic
Arlington, VA (June 17, 2020) – Capital Impact Partners announced today that it launched its DMV Good Food Fund (DMV GFF) Innovative Response Fund, providing $100,000 in awards to key partners in order to sustain and stabilize mission-aligned good food enterprises in the Washington Metropolitan Area. Given with the generous support of the William R. Kenan, Jr. Charitable Trust, the awards will allow local good food enterprises to reposition and pivot in response to the COVID-19 pandemic and its impacts on the regional food economy.
Awards support cooperatives led by people of color and workers with low incomes
WASHINGTON, D.C./ARLINGTON, VA (June 4, 2020) – The Washington Area Community Investment Fund (Wacif) and Capital Impact Partners today announced $40,000 in grant awards to support cooperatively owned businesses through the D.C. Co-op Impact Grant, launched in partnership with Citi Community Development. The awards will advance the growth of emerging and existing cooperatively owned businesses led by communities of color and workers with low incomes throughout the Washington, D.C. area.
$12.5 Million Loan Fund to support emerging minority real estate developers in Detroit, create pathway of success for those working to revitalize city
(DETROIT – May 14, 2020) – In an effort to increase support for minority real estate developers spearheading rehabilitation or new construction of mixed-use, multifamily housing projects in Detroit, Capital Impact Partners today launched a $12.5 million Diversity in Development – Detroit Loan Fund. The fund is a new tool for Capital Impact’s long-time commitment to equitable development and inclusive growth in Detroit.
Arlington, VA (March 16, 2020) –Dear Colleagues and Partners –
In accordance with recommendations to protect the health and safety of our staff, colleagues, and partners amidst the coronavirus outbreak, we wanted to inform you of the immediate operational changes instituted at Capital Impact Partners.
First and foremost, Capital Impact remains fully open for business.
Centering equity and inclusion internally supports Capital Impact’s mission to help communities transform into places of opportunity, wealth building
Arlington, VA (March 16, 2020) – In the fourth quarter of 2019, Capital Impact Partners continued to center equity and inclusion in our work with communities and within our organization, recognizing that systemic change requires continually evolving our practices. Working to serve our neighbors in community, Capital Impact announced today that our financing and investment efforts in the fourth quarter served nearly 138,000 beneficiaries and created nearly 750 permanent and construction-related jobs.
Industry’s first publicly available, searchable resource of impact investing fund managers sees record number of applicants and assets; New emerging impact manager category brings awareness of innovative trailblazers breaking new ground in impact investing
BETHESDA, Md. (February 25)—For the third consecutive year, ImpactAssets named Capital Impact Partners to its ImpactAssets 50 (IA 50), a publicly available, online database for impact investors, family offices, financial advisors, and institutional investors that features a diversified listing of private capital fund managers that deliver social and environmental impact as well as financial returns.
Awards First “Challenge Grants” to Seven Bay Area Cities & Counties Leading Innovative Housing Efforts and $30 Million in Loans to Developers Producing and Preserving Affordable Homes
REDWOOD CITY, CALIFORNIA (February 4, 2020) – Bay Area elected officials, community, faith, and business leaders, and philanthropic funders marked the first anniversary of the Partnership for the Bay’s Future by announcing the recipients of the Partnership’s first-ever “Challenge Grants” to seven Bay Area local governments and nonprofit partner organizations that are developing innovative housing policies. The Partnership also announced commitments that will allow it to reach its $500 million investment goal ahead of schedule and has already closed seven loans to entities building new affordable housing or preserving existing affordable homes.
Oversimplified CRA metrics would damage local responsiveness and lessen social impact
Joint Statement by:
- IFF CEO Joe Neri
- Capital Impact Partners President and CEO Ellis Carr
- Low Income Investment Fund CEO Dan Nissenbaum
- Reinvestment Fund President and CEO Don Hinkle-Brown
January 29, 2020 – We are deeply concerned by Comptroller Joseph Otting’s proposed changes to the Community Reinvestment Act (CRA), the subject of today’s hearing by the House Financial Services Committee. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have set forth a proposal that must be reevaluated to preserve the fundamental purpose of CRA – to address inequalities in bank lending and to drive investments toward impactful community development activities.
$3.3 million grant will be used to leverage $13 million in affordable housing investments across D.C.’s eight wards
WASHINGTON, DC/ARLINGTON, VA (January 17, 2020) – For the second straight year, Washington, D.C.’s Department of Housing and Community Development (DHCD) has named Capital Impact Partners as a manager of the District’s Housing Preservation Fund (HPF). DHCD’s new $10 million in Preservation Funds, when leveraged by the fund managers that also include LISC and the Low Income Investment Fund (LIIF), will bring the fund to a record $116 million. Capital Impact was awarded a $3.3 million grant as part of this announcement, which the organization expects to leverage at a 3:1 ratio to deploy an additional $13 million in loans to help preserve more than 340 homes across the District.