DALLAS, July 22, 2020 /3BL Media/ – Comerica Bank continues its response to supporting local communities with investments totaling $2 million to Community Development Financial Institutions (CDFIs) assisting small businesses impacted by the COVID-19 crisis.
Investment to back CDFIs deploying Paycheck Protection loans
CHICAGO, May 11, 2020, /3BL Media/- Northern Trust Corporation (Nasdaq: NTRS) announced today it is providing $100 million in low-cost funding to assist Community Development Financial Institutions (CDFIs) as they provide loans to small businesses and non-profit organizations under the federal Paycheck Protection Program (PPP).
Strengthening CDFIs is essential for helping businesses and communities rebound from the pandemic
As Americans are bracing for the health fallout from the COVID-19 outbreak, the nation’s Main Street businesses are fighting for their survival. Salon owners, event planners, shopkeepers and restaurants are being forced to make hard choices—pay their bills or their employees—and the workers who rely on them for their livelihoods face prolonged economic hardship.
by Debra Schwartz Managing Director, MacArthur Foundation
Often, the most compelling impact investments are made, not found.
I have used that phrase over the years to describe how foundations and other impact-focused investors use “catalytic capital” to support social and environmental progress. These patient, flexible, “catalytic” investments are able to take on more risk and/or accept a lower return than commercial capital in order to finance gains that would not otherwise be possible.
by Teri Lovelace, President, LOCUS Impact Investing
Place-based impact investing is sparking community development projects that create more just, equitable local economies, and build prosperous, vibrant communities. Place-focused foundations, like community foundations and family foundations are exploring ways to complement their traditional grant-making with local investments that can catalyze positive community change.
by Annie McShiras, Investment Associate, Self-Help Federal Credit Union
Impact investing has emerged as a major force in philanthropy. Last year the Global Impact Investing Network conducted a survey showing that the estimated value of the impact investing sector doubled between 2017 and 2018, increasing from $114 Billion to $228 Billion in assets under management. The rise of impact investing signals a shift from a “do-no-harm” approach to a demand for investments that actively produce measurable positive social and environmental outcomes.