Winter 2019: Capital Impact Investment Notes | Entrepreneurs of Color | Partner Videos

As we near the end of 2019, we are thinking back on the partnerships that have driven the impact that will move our communities toward equity, inclusion, and justice. Working hand-in-hand with community members and mission-driven individuals and organizations can move us from systems with entrenched barriers to a future where everyone can build generational wealth and opportunity. we invite you to read about our efforts to make this a reality nationwide.

Capital Impact has expanded the opportunity for institutional and retail investors to invest in transformative change in communities nationwide through our latest offering of S&P A+ rated Capital Impact Investment Notes. We use the proceeds to challenge structural disinvestment and expand racial equity. More than $147 million in Notes have been purchased by a range of retail and individual investors. Join their ranks and match your investments with your values.

►Learn How You Can Invest

►Hear from an Investment Advisor

For many community members, entrepreneurship is the surest path to financial inclusion and economic mobility. Capital Impact is proud to be part of the new D.C. Entrepreneurs of Color Fund, and now you can learn more about how the Fund aims to level the playing field for entrepreneurs of color in the Washington Metropolitan Area. If you are, or know, an entrepreneur of color in the D.C. area, visit the new Fund website to find out how you can participate.

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Community Development Financial Institutions (CDFIs) have been bringing investment to Detroit for more than two decades. The mission-driven approach and unique tools that CDFIs bring to the market have played a critical role in the development of new housing and community facilities like grocery stores and schools.

But in order to scale our work to have a broader impact, it is vital to have mission-aligned partners who can help us generate the capital we need to make these investments for Detroiters. From large institutions like JPMorgan Chase to community anchors like Invest Detroit, our latest video series showcases how our partnerships in Detroit have brought clear vision to social change for the city’s communities.

►Check Out Our New Detroit Partner Video Series

►Read About the Impact That Our Partners Have Created

►Apply to Our New Equitable Development Initiative Cohort in Detroit
 

At Capital Impact, we support projects across the country that leverage the skills and enhance the power of communities so that they can thrive. Read more about how our investments are helping residents reach their goals.

Detroit Edison Public School Academy

Founded in 1998, Detroit Edison Public School Academy (DEPSA) serves primarily African American students, who make up 98 percent of all students. The school consistently outperforms its K-12 peers at the district level, and K-8 peers across the state. Eighty-two percent of its students go to college, versus 68 percent for the state of Michigan. In 2012, DEPSA constructed a new 58,000-square-foot high school facility, and was looking for ways to bring down annual costs. We supported this effort with a $6 million loan to refinance an existing $11 million New Markets Tax Credit (NMTC) loan using the Community Development Financial Institution (CDFI) Bond Guarantee Program.

Meals on Wheels—San Francisco

As older adults age, especially for those who are struggling economically, social isolation and nutrition issues are real barriers to long-term health. Meals on Wheels (MOW) provides services that help older adults age with dignity in their own homes for as long as possible. Most people know Meals on Wheels through its meal program for older adults, but they also provide safety checks, nutrition counseling, social work, and companionship for both older adults and adults with disabilities. In San Francisco, MOW delivers healthy meals twice daily to more than 3,600 low-income seniors and adults with disabilities. In the third quarter, we supported MOW with a $16 million loan—$10.5 million in NMTC allocation—to construct a new kitchen that will double its daily meal production.

1101 Euclid—Washington, D.C.

With increased housing prices and gentrification, affordable housing within Washington, D.C. has grown scarce. As a D.C. Affordable Housing Preservation Fund (AHPF) manager for the mayor, we have helped District residents maintain the housing that they have often lived in for years. One exciting project that we supported is 1101 Euclid, a multifamily housing development originally constructed in the 1900s. Over the past several years, the neighborhood has experienced a rapid loss in affordable housing, and the building has fallen into disrepair. Through AHPF, Capital Impact provided a $3.2 million loan, helping the tenants work with a black-owned developer to acquire their building and make critical repairs while maintaining affordability for up to 78 residents.

Health is about more than just the body. People’s health is impacted by many factors, including social isolation, nutrition, transportation, and much more.

“We take a team approach,” say Dr. Vanessa Solar Alvarez (Dr. Solar), a primary care physician at The Center for Healthy Aging. “When a new patient comes to see us, we spend 2-3 hours getting to understand them. In their first visit, they will see the nutritionist, the social worker, the pharmacy, even case workers if needed, and then the doctor. We do this so we can create a comprehensive evaluation of everything they have going on. Then we can better address all their health challenges.”

Join us as we visit two Federally Qualified Health Centers that are delivering innovative care to support older adults in their communities with comprehensive services that help them live and age with dignity.

►Meet Dr. Solar and Her Patients
 

Over the course of the year, Capital Impact has experienced considerable growth as we scale up how we work hand-in-hand with communities. Our Business Development team works with borrowers nationwide to ensure that communities that experience structural disinvestment have access to services that build opportunity. Meet our Business Development Officers!

Cameron Wilson, California Business Development Officer

Based in Oakland, Cameron took on the role of Business Development Officer for California in October 2019. Cameron comes to us with more than a decade of experience with Federal Housing Administration multifamily properties.

Seth Whetzel, D.C. & New York Business Development Officer

Seth joined Capital Impact Partners in September 2019 to engage borrowers in our East Coast markets from Washington, D.C. to New York City. Prior to joining Capital Impact Partners, Seth spent more than three years with Building Hope, a CDFI headquartered in DC that provides facility financing and real estate development solutions to charter public schools across the United States.


 

Nicholas Pohl, Detroit & Great Lakes Region Business Development Officer

We are excited to announce that Capital Impact is expanding its lending efforts from Detroit to the entire Great Lakes region. Nicholas—formerly the Senior Originations Loan Officer in Detroit—has transitioned to business development in this region. He has also been selected to participate in the Detroit Regional Chamber’s Leadership Detroit program, a 10-month leadership program designed to challenge emerging and existing community leaders from Southeast Michigan to bring about positive change.

►Reach Out to Learn More about Our Lending Opportunities