JULY 15, 2024 (Arlington, VA/San Diego, CA) – Capital Impact Partners and CDC Small Business Finance — two mission-driven nonprofits that are part of the Momentus Capital branded family of organizations — have been awarded a combined total of $950,000 in multi-year grants from the U.S. Bank Foundation.
“We are grateful for our ongoing collaboration with U.S. Bank and its continued support of our mission to provide people and communities with the opportunities they deserve,” said Natalie Gunn, chief finance officer for the Momentus Capital branded family of organizations. “This grant funding will significantly help our ability to offer programs that help developers and other small business owners to grow their businesses, build generational wealth, create jobs and bolster the communities they serve.”
“We’re proud to work with organizations like Capital Impact Partners and CDC Small Business Finance that are creating access and opportunities for more people, helping drive economic growth and building thriving communities,” said Erica Opstad, head of community affairs and managing director of the U.S. Bank Foundation.
Capital Impact Partners received a $500,000 multi-year U.S. Bank Foundation Opportunity Fund grant to support its EDI program.
The EDI program provides emerging developers with the tools they need to grow their businesses — and, in turn, to bring more affordable housing and other real estate projects to disinvested communities. The free program includes training, technical assistance, mentorship, networking, and potential pathways for financing.
Since 2018, the EDI program has trained more than 250 real estate developers in several metropolitan areas throughout the United States, including Detroit, Washington, D.C.; the San Francisco Bay Area; Dallas; and Cleveland. The first training cohort for the Atlanta region is expected to begin later in 2024. This grant funding will be used to support ongoing EDI programming in Cleveland and future expansion of the program.
CDC Small Business Finance received a $450,000 multi-year U.S. Bank Foundation Community Possible grant that will go toward free business advising services for small business owners in California.
CDC Small Business Finance uses business advising services throughout the lending process, including pre-loan technical assistance to help the borrower become loan-ready; during underwriting to help with financial projections; business plan review; and credit issues. Borrowers are also provided with technical assistance when they are having challenges making their payments.
These business advising services help entrepreneurs to be more likely to be approved for financing, increase their ability to operate a successful business, and support their repayment in servicing.
In recent years, U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, also has supported the Momentus Capital branded family of organizations in a variety of ways to help real estate developers, small business owners and nonprofits access opportunities for growth, innovation and community services.
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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 Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
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, their clients will now have access to more resources and products.
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 capitalimpact.org and momentuscap.org.
About CDC Small Business Finance
CDC Small Business Finance, part of the Momentus Capital Branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As the nation’s leading mission-based small business lender, CDC Small Business Finance helps build strong communities and create generational wealth by deploying mission-driven financing and free business advising to the small businesses that are the backbone of their communities and the country.
CDC Small Business Finance delivers small business and commercial real estate loans paired with free technical assistance to bolster entrepreneurship, economic development, and job creation.
We offer numerous loan products, including the Small Business Administration (SBA) 504 commercial real estate loans, SBA Community Advantage loans, and SBA Microloans. In addition, we offer non-SBA products to provide alternative options for those unable to qualify for traditional financing. CDC Small Business Finance also offers free business advice to support potential borrowers in getting loan-ready and to help our current borrowers grow and expand their businesses.
Since 1978, CDC Small Business Finance has provided more than $21.3 billion in financing to 12,500 borrowers and helped create and preserve over 217,000 jobs.
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, their clients will now have access to more resources and products
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 cdcloans.com and momentuscap.org.