News Coverage

Macy’s and Momentus Capital have launched S.P.U.R. Pathways: Shared Purpose, Unlimited Reach to deploy $200 million to diverse-led businesses, including the retailer’s suppliers but reaching other entrepreneurs as well. This multiyear, multifaceted funding program is intended to advance entrepreneurial growth, close wealth gaps, and shatter systemic barriers faced by diverse-owned and underrepresented businesses.

In this interview, Ellis Carr discusses the impetus behind the formation of the Momentus Capital branded family of companies — and how it will enhance the work that Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies are doing.

This article by the AFRO — a news outlet in the Washington, D.C., area — spotlights the announcement that created the Momentus Capital branded family of companies, and describes the innovative strategies and programs being put in place both locally and nationwide: “Momentus Capital particularly seeks to support African-American entrepreneurs and communities who continue to be excluded from traditional financial services and the banking system.”

Ellis Carr, the president and CEO of the Momentus Capital family of companies, was selected by Fast Company in the business publication’s 14th annual list of the Most Creative People in Business. Fast Company highlighted Carr and Momentus Capital for creating the Equitable Development Initiative, a national program that helps developers of color overcome systemic issues and lead affordable real estate projects.

“Momentus Capital says it combines its national presence with a local, place-based approach. It works with local leaders — including small business owners, social entrepreneurs, community-minded developers, policymakers, and builders of community facilities — to identify issues and drive solutions.”

“Momentus Capital plans to develop new lending and investing products, offer technology for partners and lenders, create training and mentorship programs to tackle systemic inequities and more. ‘We are constantly working to rethink outdated approaches that limit who has access to capital,’ said president and CEO Ellis Carr in the statement. ‘Where others see risk, we see the opportunity to demonstrate that communities deserve investment.’”

“Systemic barriers have prevented developers of color from accessing capital and achieving their potential in helping communities across the country,” said president and CEO Ellis Carr in this article about the Equitable Development Initiative expanding to a fourth metropolitan region. “There are so many talented developers of color who are ready to work with local neighborhoods to create housing solutions that uplift and support communities.”

Forbes Magazine sat down with Ellis Carr, president and CEO of Capital Impact Partners, and CEO of CDC Small Business Finance, to discuss how this exciting new enterprise is working to address lack of investment in communities of color. The two also talked about Ellis’ vision for using technology to help scale this work nationally.

Capital Impact Partners of Arlington and CDC Small Business Finance of San Diego have combined as part of a bid to expand their reach into more underserved communities and combat growing income inequality. The combined organization will create a new umbrella brand for consumers.