Financial Returns on the Enterprise Community Impact Note to Rival those of Traditional CDs
WASHINGTON, DC – March 31, 2011 – (RealEstateRama) — Enterprise Community Partners, Inc. (Enterprise) today launched the Enterprise Community Impact Note to provide an easy way for individuals and organizations to invest in green affordable housing. The innovative financial product raises money from investors to build or preserve affordable housing and community enhancing projects, while providing financial returns that rival those of traditional CDs.
“The Enterprise Community Impact Note is an innovative financial product open to everyone. It allows people to invest in the future of America’s communities while receiving competitive financial returns with measurable social impacts,” said Terri Ludwig, president and CEO of Enterprise Community Partners, Inc. “It’s the latest example of Enterprise finding a new way to finance affordable housing while creating jobs, fighting poverty and strengthening the fabric of our neighborhoods.”
“As an affordable housing organization, it only makes sense for the National Housing Trust to align our investments with our mission. The Enterprise Community Impact Note is an investment that supports both our work and local communities,” said Michael Bodaken, executive director of the National Housing Trust. “The Enterprise Community Impact Note does more than make our work possible; it embodies a combination of our values and commitment to our mission.”
The Enterprise Community Impact Note is currently offered in 26 states and the District of Columbia by the Enterprise Community Loan Fund, a national fund certified by the U.S. Treasury Department’s Community Development Financial Institutions Fund. Enterprise Community Loan Fund lends money invested in the Enterprise Community Impact Note to non-profit and mission-driven organizations working to create better affordable housing and stronger communities across the country.
Investment terms range from two to ten years and include annual interest payments to investors in the 2-3.5% range with a minimum investment of $5,000. The principal is returned at the end of the term. Investors of $500,000 or more may select target geographies or the type of housing investment Enterprise will pursue with their funds. Visit www.enterprisecommunity.org/impactnote to access the prospectus, application and the list of 26 states where it is available, or call toll free 877-389-9239.
Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For nearly 30 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $10.6 billion in equity, grants and loans to help build or preserve more than 270,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise’s efforts to build communities and opportunity.