November 07, 2022 (Arlington, VA/San Diego, CA) – The Momentus Capital branded family of organizations is proud to announce that it is working with Macy’s, Inc. on S.P.U.R. Pathways: Shared Purpose, Unlimited Reach—a multiyear, multifaceted funding program to advance entrepreneurial growth.
This innovative effort advances a longstanding Macy’s, Inc. commitment to small businesses and aims to galvanize the retail industry to invest in the next generation of entrepreneurs.
It features a comprehensive range of financing options, from growth equity capital to loans for working capital and commercial real estate. Additionally, this effort will provide a full suite of educational resources, fueling a holistic supplier ecosystem and acting as a catalyst for outsized growth.
“S.P.U.R. Pathways: Shared Purpose, Unlimited Reach is dedicated to shaping the future of U.S. retail. Macy’s, Inc. has promoted small businesses and entrepreneurs for more than a decade and furthers that commitment today, pushing the U.S. retail industry to a new era,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “As part of our social purpose platform, Mission Every One, this investment will provide access to capital resources that will advance the next generation of brands and service providers. By investing in businesses at all stages of growth, we intend to create meaningful economic impact within our communities, while serving our customers.”
This collaboration, which will potentially contribute approximately $200 million toward supporting businesses, includes:
- Macy’s, Inc. investing $20 million in its own supplier access fund.
- Macy’s, Inc. investing another $10 million through Momentus Capital’s Impact Investments line of business. The Impact Investments line of business is projected to include more than $100 million in capital to support growth-stage small businesses.
- Macy’s Inc. referring businesses to a Momentus Capital loan program, which is anticipated to provide up to $100 million in capital access to businesses at various stages of development.
The program is another example of how the Momentus Capital branded family of organizations — which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies — looks for innovative ways to offer a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth.
The Macy’s, Inc. supplier ecosystem provides access to comprehensive tools, industry experts, educational resources. Now, with funding through this collaboration and the formation of S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, there is an unparalleled opportunity within the retail industry. Access to capital and expertise can fuels mutual growth and foster wealth creation and entrepreneurship within historically underfunded communities.
Earlier this year Macy’s, Inc. introduced its social purpose platform, Mission Every One, developed to build on the company’s heritage of corporate citizenship and to achieve positive societal change. Through Mission Every One, Macy’s, Inc. will direct $5 billion of the company’s spend, scaling through 2025, to the partners, products, people, and programs that help create a more sustainable future. A portion of this spend will support investments in business development programs, including S.P.U.R. Pathways and The Workshop at Macy’s, the retail industry’s longest-running retail development program, which has empowered more than 200 brands. Across Macy’s, Bloomingdale’s, and Bluemercury, with a network of more than 700 stores, digital shopping through online and app experiences, and new smaller off-mall store formats, Macy’s, Inc. fosters a comprehensive supplier ecosystem that advocates for businesses at all levels of growth and across a vast array of categories and size.
Full Suite of Tools & Resources
Macy’s, Inc. offers suppliers access to a complete supplier ecosystem, including opportunities for mentorship through The Workshop at Macy’s and strategic relationships with national advocacy organizations. In addition to financing through S.P.U.R. Pathways, businesses will have access to necessary tools and new opportunities to progress through various growth stages. This includes an advisory network of successful entrepreneurs around the country for strategic growth advice and help with credit improvement, business plans, financial reporting, daily operating challenges, business strategy, opportunity evaluation, and other personalized services. Advisory services through S.P.U.R. Pathways will also provide access to additional training and resources, including professional services, business templates, technology and software development tools, as well as online and in-person workshops focused on the specific needs and industry of each participating diverse-owned enterprise.
For additional information on this critical funding access, please visit macysinc.com/spurpathways.
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About Momentus Capital
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital, and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, its clients now have access to more resources and products.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
Learn more at momentuscap.org.
About Macy’s, Inc.
At Macy’s, Inc. (NYSE: M), we are a trusted source for quality brands at great values from off-price to luxury. Across our iconic nameplates, including Macy’s, Bloomingdale’s and Bluemercury, we help our customers express their unique style and celebrate special moments, big and small. Headquartered in New York City, we operate one of retail’s largest e-commerce businesses integrated with a nationwide footprint to deliver the most convenient and seamless shopping experience. Our purpose is to create a brighter future with bold representation – so we can realize the full potential of every one of us. For more information, visit macysinc.com.
About Mission Every One
Mission Every One is Macy’s, Inc.’s commitment to create a brighter future with bold representation for all that empowers more voice, choice and ownership for colleagues, customers, and communities. Built on three pillars of impact – our people, communities, and planet, Macy’s, Inc. will direct $5 billion of the company’s spend, scaling through 2025, to the people, partners, products and programs to drive a more equitable and sustainable future. For more information on Mission Every One, visit macysinc.com/purpose.