Terry Simonette, who led the organization since its inception, announces his retirement. Ellis Carr, Capital Impact’s Chief Financial Officer, is named as his replacement. Ellis brings 20+ years experience addressing social and economic justice issues through his work in the financial services and community development sectors.
AGE STRONG FUND
We continue to help low-income older adults age in their community with the Age Strong Investment fund, launched in partnership with AARP, AARP Foundation and Calvert Foundation. The $70M fund supports enterprises that benefit this high-need community. It also allows individuals to invest in the fund and earn a return through the Calvert Foundation.
MICHIGAN GOOD FOOD FUND
The Michigan Good Food Fund is born to support efforts across the healthy food value chain—including production, distribution, processing, marketing and retail projects. This unique public-private partnership loan and grant fund is developed by the W.K. Kellogg Foundation, Fair Food Network and Michigan State University Center for Regional Food Systems.
FHLBANK ATLANTA MEMBERSHIP
The Federal Home Loan Bank of Atlanta names us among its cooperative of financial institutions. We’re one of a few CDFIs that are part of this system. Our membership provides us with access to products that enhance our mission-driven lending efforts.
BOND GUARANTEE PROGRAM
The CDFI Fund enables us to utilize its Bond Guarantee Program, an effort designed to support community revitalization. This allows us to offer our borrowers long–term financing at low fixed rates, thus enabling them to put more of their money toward impact.
$2 BILLION OF IMPACT MILESTONE
While it took 25 years to reach the $1B mark, it only took five more for us to mark the impressive milestone of deploying over $2B in efforts to increase access to critical social services that foster good health and economic development.
DETROIT NEIGHBORHOODS FUND
JPMorgan Chase makes a $100M commitment to Detroit, which includes $25M to launch our Detroit Neighborhoods Fund. The Fund provides financing for multi-family residential properties, mixed-use real estate and grocery stores. Mayor Mike Duggan joins us at the Rainer Court Apartments ribbon cutting to mark the first project opened under the fund.
DETROIT OFFICE OPENS
After years of dedicated efforts to support Detroit’s revitalization, we formally open up our Midwest office in the “New Center” section of the city. The office is centrally located to many projects we’ve financed in the heart of Detroit.
A NEW NAME, CONTINUED IMPACT
We debut our new name, Capital Impact Partners, and adopt a brand identity that better reflects our culture, capabilities and strategy to deepen our mission to create social impact for those most in need.
WELLS FARGO NEXT AWARD
In recognition of our pioneering work in Detroit, we receive the Wells Fargo NEXT Award for Opportunity Finance. This $2.75M award substantially expands our work across the city, allowing us to further our revitalization efforts.