CRF in the news
June 24, 2014
Campaign offers a unique opportunity to invest in local small businesses.
Minneapolis, MN, June 24, 2014--Calvert Foundation and Community Reinvestment Fund, USA (CRF) today announced the launch of the Ours To Own Twin Cities campaign, which combines the collective power of individuals' small investments to support local businesses in the Twin Cities and Denver.
For as little as $20, people will be able to invest in the initiative and receive returns through Calvert Foundation's Community Investment Note on the Vested.org platform. These investments will support CRF's small business lending program, which targets small business owners who have historically faced difficultly securing financing. In particular the initiative aims to provide financing for women, minority, and veteran-owned businesses, in neighborhoods that have been underserved in the past.
"This exciting partnership allows us to amplify our efforts to provide financing to underserved Twin Cities and Denver small businesses so they can grow and create jobs," said Frank Altman, President and CEO of CRF. "I am also pleased that the minimum investment is $20 because it creates a way for a whole new audience to invest and make a difference in their neighborhoods."
The Denver investment will also support the work of local organizations including CRF partners Colorado Enterprise Fund (CEF) and Urban Land Conservancy (ULC).
Margot Kane, Vice President for Strategic Initiatives at Calvert Foundation, said about the Twin Cities campaign, "This initiative celebrates the unique and entrepreneurial spirit of the Twin Cities. We are excited to harness the enthusiasm of residents to fuel a diverse, dynamic, and growing small business community for years to come."
Kane also commented on Denver, "We are excited to bring this investment platform to the Denver community. We have been continually inspired by the incredible work of our partners who work every day to ensure that the growth in the Denver region benefits all populations and neighborhoods."
The Twin Cities and Denver campaigns are part of the Ours To Own national campaign, a program built on the belief that local residents should be able to invest in building the future they want in their cities. Through these investments, economic and community development organizations will be able to better serve their communities through small business development and real estate investments an, in turn creating jobs and fostering an entrepreneurial and healthy ecosystem. As part of the announcement at CGI America, Calvert Foundation made a "five by '15" commitment to bring the campaign to five U.S. cities by 2015.
CRF, a nonprofit organization and certified Community Development Financial Institution (CDFI), is a national leader in bringing capital to underserved areas. Since 1988, CRF has injected more than $1.5 billion into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. For more information, visit www.crfusa.com.
About Calvert Foundation
Calvert Foundation enables people to invest for social good. Through its flagship Community Investment Note, Calvert Foundation has raised $1 billion in investment from more than 13,000 investors to invest in hundreds of nonprofits and social enterprises worldwide. Investor dollars empower women, fund the construction of affordable housing, provide loans to small business owners, increase access to healthcare, and support fair trade and sustainable agriculture.
Posted by: CRFUSA