“CDFI Grid” Promotes Programs and Services from Area Community Development Financial Institutions
Detroit, MI (September 11, 2015) —Project developers and community members in Detroit now have an easy reference guide for finding financing from Community Development Financial Institutions (CDFI) for a range of needs, including consumer mortgages, business loans, real estate projects, and mixed-use developments.
Innovative Microlending Program Supports Local Business Assistance Agencies Increasing Healthy Food Access in Los Angeles County
Arlington, VA/Los Angeles, CA (August 5, 2015) – Capital Impact Partners and First 5 LA today announced their newest effort to help bring healthier food offerings to kids throughout Los Angeles, Calif. Through Capital Impact’s California Freshworks Fund, the organizations have deployed $2 million in loan capital to seven local business assistance agencies that will oversee microlending to enterprises focused on increasing access to healthy food for families with small children. This represents the first simultaneous impact investment into a cohort of microlenders at the Countywide level to collectively address the issue of food deserts via microentrepreneurship.
$27.5 million in Financing Drives Social Impact and Job Creation for Underserved Residents Across Seven States
Arlington, VA (July 28, 2015) – Capital Impact Partners announced today that it provided nearly $27.5 million in financing to projects delivering social impact for underserved communities across the U.S. during the second quarter of 2015. These projects are expected to increase access to health care services, dignified aging options, healthy food, and education for low-income people in seven states, while also creating nearly 250 jobs.
First of its kind approach working to increase access to healthy food and drive economic development
June 9, 2015 | Lansing, Mich. – The Michigan Good Food Fund—a new public-private partnership loan and grant fund created to address lack of healthy food access in rural and urban communities alike by supporting good food entrepreneurs across the state—launches today.
Community Health Center Financing, Job Creation, FHLBank Atlanta Membership Highlights of First Quarter Achievements
Arlington, VA (June 2, 2015) – Capital Impact Partners announced today that it provided nearly $32 million in financing to projects in underserved communities during the first quarter of 2015. Capital Impact financed four Federally Qualified Health Center (FQHC) projects that will enable additional access to integrated health care for more than 17,000 low-income or uninsured patients around the country. The quarter was also marked by Capital Impact joining the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and leadership recognition for two of the organization’s senior staff members.
CONCORD, N.H. (May 1, 2015) — In less than seven years, ROC USA® — an organization of which Capital Impact Partners is a founding investor — has built on a proven strategy of resident ownership in manufactured home communities and scaled it across the country, transforming communities and building a network of 10,000 secure and affordable homes with partners in 14 states.
Arlington, VA (April 30, 2015) – Capital Impact Partners announced today that it has awarded $40,000 to the Democracy at Work Institute and United States Federation of Worker Cooperatives through its first Co-op Innovation Award. These organizations were chosen for their track record in providing high quality technical assistance to startup and existing co-ops as well as their leadership in scaling the cooperative model with a focus on low-income communities.
Arlington, VA / Atlanta, GA (March 18, 2015) – Capital Impact Partners today announced that it has joined the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions and insurance companies. As an FHLBank Atlanta member, Capital Impact has access to the competitively priced financing, community development grants and other banking services that help the more than 900 of the Bank’s member financial institutions grow and prosper.
Detroit Revitalization, Community Health Centers and New Markets Tax Credits Are Key Elements of Project Financing in Underserved Communities
Arlington, VA (February 12, 2015) – Capital Impact Partners announced today that its 2014 fourth quarter lending to projects in underserved communities topped $45 million. Highlights of this financing included continued Capital Impact leadership in funding Federally Qualified Health Center (FQHC) projects to increase the availability of healthcare to low income residents, supporting inclusive housing growth in Detroit by closing the first loan through the organization’s partnership with JPMorgan Chase & Co., and leveraging New Markets Tax Credits (NMTC) to support a variety of projects.
Tool is a Proven Solution for Affordable Housing in Underserved Communities
Washington, DC (January 27, 2015) – We can say with growing certainty that the economy is in recovery. Unemployment, the stock market, and other economic indicators have reached pre-recession levels. However, millions of low-income American families are still struggling to find stable, affordable housing.
According to a recent Zillow report, rents are up 52 percent nationally since 2000, while renters’ incomes have only increased 25 percent. More than half of households earning less than $30,000 a year spend half their income on rent, leaving little for necessities such as food, medical care, transportation, or savings. There is simply not enough housing affordable to poor households.