News + Press Room
Welcome to our news and press room. Please see below for news stories that feature or highlight our new enterprise along with press releases about our efforts.
For media inquires please contact: firstname.lastname@example.org
Capital Impact Partners and CDC Small Business Finance Receive $1.5 Million Wells Fargo Open for Business Fund Award
Arlington, VA | San Francisco, CA | San Diego, CA (November 30, 2021) – Capital Impact Partners and CDC Small Business Finance announced a $1.5 million grant from Wells Fargo to launch an initiative focused on providing targeted business training services to small real estate developers and entrepreneurs of color. The grant will also help accelerate re-development efforts in D.C. and the Delta through a focus on small real estate development businesses and other industries that bring needed housing, amenities and jobs. The funding is made possible through Wells Fargo’s Open for Business Fund, a roughly $420 million small business recovery effort across the U.S to help small business owners recover and emerge from the pandemic even stronger and more resilient.
Capital Impact Partners Awarded $1 million to Manage the Newly Created Nourish D.C. Fund by Mayor Muriel Bowser
Arlington, VA / San Diego, CA (May 6, 2021) – Washington, D.C. Mayor Muriel Bowser awarded Capital Impact Partners $1 million to manage the newly announced Nourish D.C. Fund. This fund, part of the $5.2 million D.C. Local Equity, Access, and Preservation Funds (D.C. LEAF) program, aims to support a robust ecosystem of locally owned food businesses in District neighborhoods by investing in BIPOC-owned businesses that otherwise struggle to access capital and also promotes health equity in the city.
CDC Small Business Finance will serve as a key partner and help deploy the Fund to small businesses.
Capital Impact Partners and CDC Small Business Finance Align Operations Under One CEO to Transform how Capital Flows into Disinvested Communities and Drive Economic Empowerment
Arlington, VA / San Diego, CA (March 30, 2021) – Capital Impact Partners and CDC Small Business Finance are uniting operations to launch a transformative new enterprise and innovate how capital and investments flow into historically disinvested communities to advance economic empowerment and equitable wealth creation.
Leveraging their 80 years of combined efforts engaging with communities and nearly $3 billion in assets, Capital Impact Partners, one of the nation’s leading Community Development Financial Institutions (CDFI), and CDC Small Business Finance, the nation’s leading mission-based small business lender are now operating as one under Capital Impact’s current President and Chief Executive Officer Ellis Carr.
Opinion: Equitable revitalization critical to Detroit’s future (Detroit News)
“We must think holistically about our approach to community and economic development to achieve sustainable change,” notes CEO Ellis Car in this Op-Ed about how the Alliance is focusing its efforts to build equitable communities that are intentional, innovative, scalable, and inclusive, for all Detroiters.
The Most Transformative Fintech Merger That You Never Heard About
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.
Kurt Chilcott to Serve as Board Chair of Capital Impact Partners and CDC Small Business Finance
Kurt Chilcott, who has served as CDC Small Business Finance’s President and CEO over the past 23 years, will transition to serve as Board Chair of both Capital Impact Partners and CDC Small Business Finance, where he will continue to support his vision for advancing economic empowerment and equitable wealth creation in underserved communities nationwide. Capital Impact’s current President and Chief Executive Officer, Ellis Carr, will take over as CEO of both companies.
Alliance of Capital Impact Partners and CDC Small Business Finance creates community investing powerhouse
“Together (Capital Impact and CDC Small Business Finance” will be able to transform the system by rethinking how credit is evaluated and how capital flows into disinvested communities across the country,” says Ellis Carr in this article describing how this 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.”