ImpactAlpha, Mar. 31 – Capital Impact Partners, a community development finance institution, has deep community roots. CDC, a nonprofit Small Business Administration lender, has a strong history of small business lending and advising.
“Together we will be able to transform the system by rethinking how credit is evaluated and how capital flows into disinvested communities across the country,” said Capital Impact’s Ellis Carr, who will lead the combined enterprise, with nearly $3 billion in assets (see, “Agent of Impact: Ellis Carr”).
CDC’s Kurt Chilcott will serve as board chair of both Capital Impact Partners and CDC Small Business Finance.
The organizations teamed up for a three-city pilot last year, backed by $6 million in grants from JPMorgan Chase and the Heron Foundation(see, “Can real estate financing + small-business lending = equitable community growth?“).
The national strategy will align the organizations “to advance high-touch solutions at scale and ensure that traditional and mainstream financial systems are equitably serving Black, Hispanic, and Indigenous communities.”