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Strategies for Financing the Inclusive Economy
Worker-owned companies, social enterprises, and related broad-based ownership models are increasingly seen as highly valuable tools for stemming and reversing rising economic inequality. In this third part of an ongoing series, the Democracy Collaborative looks at how to finance models to create more and better jobs and broader ownership opportunities. Capital Impact’s role in providing both technical assistance and financing to food, worker and housing cooperatives is highlighted as a key approach.
To Serve all Californians Expanded Health Clinic Capacity is Needed
Federally Qualified Health Centers – of which there are nearly 130 in the state – have long served as the safety net for California’s most vulnerable residents living in both urban and rural communities. Yet, as we look into the future, that net is fraying. In this Op-Ed for California’s leading political newspaper, Capital Impact’s Chief Lending Officer, Scott Sporte, illustrates how our financing work is helping to support FQHCs and create health equity in the state.
Investing in Detroit’s Comeback: Optimism & Challenges on the Road to Inclusive Growth
2015 was a year of optimism for post-bankruptcy Detroit. New investments. Blight being tackled. Infrastructure coming online. only. As a longtime Detroit resident and community development professional, Capital Impact’s Bradford Frost still believes the city is at a significant crossroads. In this Op-Ed for Next Billion, Frost takes an in-depth look at the question: “Will redevelopment in Detroit lead to equitable growth?”
Connecting Big Banking to Community Investment
It may come as a surprise to many that the Federal Home Loan Bank (FHLB) system is one of the largest and oldest government-sponsored enterprises devoted to housing. For decades large financial institutions have been the primary intermediary between the FHLB and individual mortgage holders. This Next City article examines how Capital Impact is among a select group of Community Development Financial Institutions leading the way in working with the FHLB to kick start lending on a massive scale in communities where it is needed most.
Capital Impact says ‘yes’ to underserved Detroit communities
With over $2 billion deployed over our history, Capital Impact has grown into one of the largest Community Development Financial Institutions in the country. As a mission-driven lender, we are driven by the social impact we achieve. In this Michigan Chronicle profile, Melinda Clemmons, Capital Impact’s senior loan officer, provides an inside look at how we are driving social impact in her hometown of Detroit.
Revitalizing Urban Neighborhoods
Numerous studies released throughout 2015 reveal what some have deemed a substantial and significant “neighborhood gap.” That gap is the difference in the quality of life in one neighborhood versus the quality in another. Two leading business authors highlighted the work of Capital Impact’s lending efforts to close this gap in this Huffington Post “Profit + Purpose” column.
A Different Spin on a Market-Based Approach
More and more, foundations are moving out of their traditional philanthropy role to take on impact investing and make loans or investments that have double-bottom-line goals of financial and social returns. In this Stanford Social Innovation Review piece, Capital Impact’s partnership with the AARP Foundation and Calvert Foundation to launch the Age Strong Investment Fund and create impact for low-income individuals over 50 is highlighted as a top example of this emerging trend.
The Policy Behind the Investing Behind That New Neighborhood Grocery Store
As a mission-driven lender, Capital Impact drives investment into projects that create access to critical services necessary for undeserved communities to thrive. But often, so much more goes into making these deals happen. As this Next City article illustrates, that effort also extends to the “grunt work” of advocating for federal and state policies and programs that make these deals workable for a wide variety of borrowers.
A Holistic Approach to Healthy Food Financing
Healthy food financing isn’t just about health. There is no doubt that improving access to fresh, nutritious foods in low-income communities can help people improve eating habits and prevent diet-related diseases, such as obesity, high blood pressure, diabetes, and heart disease. But the impacts for people and communities are even greater than that. Learn more about those impacts in this Op-Ed by Capital Impact’s Chief Lending Officer, Scott Sporte.
Kresge Foundation CEO Highlights Work of Capital Impact
As Community Development Financial Institution leaders from across the country gathered for their annual meeting in Detroit, CDFI Connect sat down with Rip Rapson, president and CEO of the Detroit-based Kresge Foundation to hear more about how the foundation is helping the revitalization of that city. In his Q&A, Mr. Rapson highlighted Kresge’s support of Capital Impact and our long-time leadership in financing projects that create more access to the critical services the cities residents need.