Capital Impact Investment Notes

Terms & Financial Highlights

Capital Impact Investment Notes are being offered at fixed interest rates, with multiple terms, and may be purchased directly through your brokerage account.

How to Invest

Individual Investors can purchase Capital Impact Investment Notes directly through their brokerage accounts.

Investment Professionals can contact our lead sales agent, InspereX, for further information about Capital Impact Investment Notes.

Investment Note Terms
Total Offering	$300,000,000
Financial Return	Fixed Interest rates; Terms up to 20 years
Social Return	Delivers social impact to underserved communities across multiple sectors nationwide. S&P Global Ratings has opined that Capital Impact’s Social Bond Framework is fully aligned with the 2023 Social Bond Principles of the International Capital Market Association (ICMA).
Minimum Investment	$1,000
Investment Grade Rated	S&P Global and Fitch Ratings have both assigned the Capital Impact Investment Note an investment-grade rating. Full rating details can be downloaded from our website.*
Convenience	Available for purchase through your brokerage account

Prospectus

Current Pricing Supplement

If you are looking for Pricing Supplements from previous offerings, please select the version you are looking for by clicking below and browsing the drop-down menu.

View Past Supplements

Disclaimer: This is not an offer to sell or a solicitation of an offer to buy any securities. Such an offer is made only by means of a current Prospectus (including any applicable Pricing Supplement) for each of the respective notes. Such offers may be directed only to investors in jurisdictions in which the notes are eligible for sale. Investors are urged to review the current Prospectus before making any investment decision. No state or federal securities regulators have passed on or endorsed the merits of the offering of notes. Any representation to the contrary is unlawful. The notes will not be insured or guaranteed by the FDIC, SIPC or other governmental agency.

*Ratings from S&P Global and Fitch Ratings are not a recommendation to buy, sell, or hold Notes and may be subject to suspension, reduction, or withdrawal at any time by the respective rating agencies. Please check the pricing supplement on our website for the ratings assigned to the Notes currently being offered for sale.

Financial Highlights

A pie chart showing the 2024 breakdown of Capital Impact Partner's On-balance Sheet Loan Portfolio, totaling $557.3 million.

United States map highlighting states with active loans (as of 2024) from Capital Impact Partners. Also highlighted are Capital Impact Partners' corporate offices.

A line graph displaying delinquent loan portfolios as a percentage from December 2020 through December 2024. — In 2024, Capital Impact experienced an increase in loan loss and past due loans primarily related to loans in the affordable housing section. Past due loans generally represent loans with either maturity default or other form of covenant default/violations where Capital Impact is working directly with the borrowers and/or the participating lenders on extensions, modifications and other forms of loan amendment to assist the borrowers. The increase in delinquencies as of 12/31/24 as compared to prior periods resulted from a variety of factors, but most generally due to cash flow shortfalls with our borrowers due to property management issues and occupancy and lease up challenges. In addition, inflationary pressure, higher insurance and other operating costs, and limited external subsidy dollars delayed stabilization and take-out financing across the sector.

Debt & Net Asset Composition as of 12/31/2024
Debt
Revolving Lines of Credit	$83,000,000
Notes Payable	$64,289,530
Capital Impact Investment Note	$380,296,000
Subordinated Debt	$14,500,000
FHLB-A	$24,000,000
Bond Loan Payable	$10,000,000
Subtotal Debt	$576,085,530
Less Investor Notes Issuance Costs	($3,166,501)
Total Debt⁽⁴⁾	$572,919,029
Net Assets
Without Donor Restrictions⁽¹⁾	$133,312,603
Noncontrolling Interest⁽²⁾	$1,281,113
Total Net Assets without Donor Restrictions	$134,593,716
With Donor Restrictions⁽³⁾	$45,794,563
Total Net Assets	$180,388,279
Total Capitalization	$753,307,308

Net assets without donor restrictions have no external restrictions regarding their use or function.
Represents the non-managing member’s 70% equity interest in Community Investment Impact Fund, which is exclusive of Capital Impact’s equity interest. As of December 31, 2024, the non-managing member’s equity in Community Investment Impact Fund, LLC has decreased to 13%.
Net assets with donor restrictions have donor-imposed restrictions such as (i) fulfilling a specified purpose, and/or (ii) the passage of a specified amount of time regarding use or function.
Total Debt does not include subsidiary debt or lease obligations.