Milestone achieved as part of record-breaking year supporting projects that increase access to critical social services
Arlington, VA (February 26, 2018) – (RealEstateRama) — Capital Impact Partners, a leading mission-driven Community Development Financial Institution, announced today it marked more than $2.5 billion in loans to underserved communities across the country since its founding.
Capital Impact reached this milestone by financing projects that increase access to a variety of fundamental social services, including quality health care and education, affordable housing, healthy foods, cooperative development, and the ability for older adults to age in their communities. This effort has touched the lives of more than five million people and created more than 37,000 jobs.
“While it took Capital Impact nearly 25 years to reach that first $1 billion in lending, we have more than doubled that effort since 2010. I could not be more proud of our team,” said Ellis Carr, President and CEO of Capital Impact Partners. “At the same time, it is clear that the need for both our capital and commitment – to build communities of opportunity and fight for key social and racial justice issues – remains as important as ever. For us, it is not just about volume, it is about purposeful investments that create opportunity and empower communities.”
Capital Impact reported that it crossed over the $2.5 billion mark during the fourth quarter of 2017. The organization disbursed $220 million in 2017, the largest annual total in its history. Capital Impact currently has investments in more than half of the United States with key presences in California, the Pacific Northwest, Michigan, and Washington, D.C.
“We’ve always considered ourselves as more than just a lender, but also a partner to the organizations and communities we work with. Because of that, our dedicated team brings something unique to each of our transactions. Every dollar we put to work in a community is helping improve health, strengthen education, create access to food and jobs, and offer shelter and a safe place to live. That is what truly makes this a historic moment for us,” said Scott Sporte, Chief Lending Officer for Capital Impact Partners.
Throughout its 35-year history, Capital Impact’s lending volume has delivered social impact across various sectors, which include?:
- Aging in Community (more than $65 million, supporting more than 15,000 older adults with dignified community living)
- Cooperative Development (more than $300 million, serving nearly 870,000 customers with housing, food, or worker co-ops)
- Education (nearly $854 million, providing more than 253,000 students with quality charter school education)
- Healthy Foods (more than $168 million, providing more than 1.1 million people with healthy food options)
- Health Care (nearly $902 million, serving nearly 2.6 million patients)
- Affordable Housing (more than $320 million, creating more than 37,000 units of housing)
- Place-based Revitalization (more than $70 million, supporting nearly 26,000 individuals through projects across Detroit)
About Capital Impact Partners: Through capital and commitment, Capital Impact Partners helps people build communities of opportunity that break barriers to success. We deliver strategic financing, incubate new social programs, and provide capacity-building to help ensure that low-to-moderate-income individuals have access to quality health care and education, healthy foods, affordable housing, and the ability to age with dignity. A non-profit community development financial institution, Capital Impact Partners has disbursed more than $2.5 billion to revitalize communities over the past 35 years. Our leadership in delivering financial and social impact has resulted in Capital Impact earning a “AA” rating from S&P Global “AA” and being recognized by Aeris since 2005 for our performance. Headquartered in Arlington, VA, Capital Impact Partners operates nationally, with local offices in Detroit, MI, and Oakland, CA. Learn more at www.capitalimpact.org.