Middle Atlantic USA via Calvert Foundation CIN
Loan
Raises funds for Community Development Financial Institutions (CDFIs) in both the US and around the world
For millions of disadvantaged people in the U.S. and internationally, the door to financial opportunity is closed. Since 1995, Calvert Foundation has been working to open that door and let people in. Calvert Foundation is a nonprofit that has pioneered a new type of investing through our Community Investment Note that delivers a social and financial return. We make it possible for everyday people to invest in organizations around the world that empower people living in low-income communities.
The Note was the first retail impact investment with a global reach available to non-accredited investors, and through our new Women INvesting in Women INitiative (WIN-WIN), Calvert Foundation is the first organization to offer a retail impact investment product with a gender lens. We believe in giving a hand-up and enabling people to lift themselves out of poverty.
Summary
Calvert Foundation gives investors the opportunity to support community development groups building affordable housing, creating jobs and small businesses, and financing community facilities in Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, Washington D.C., and West Virginia.
Social Impact
Calvert Foundation has great partners that are actively working to provide affordable housing, jobs, and finance small businesses and community facilities in low-income communities throughout the Middle Atlantic. These groups have financed child care centers, job/workforce training programs, drug prevention facilities, low-income housing, farms, and many small businesses and social enterprises. We encourage you to learn more about the groups we support
Impact Example
In 2009, OFN provided a $500,000 loan to the New Castle, Delaware-based Minquadale Village Homeowners Association, in participation and partnership with lead investor ROC USA, LLC. OFN has made several loans to homeowners associations like Minquadale Village Homeowners Association. These loans are used to purchase the land on which their manufactured home communities (commonly known as “mobile home parks”) are built.“Closing on this property sale was a dream come true not just for me but for all my neighbors at Minquadale,” said Ken Shaw, president of Minquadale Village Homeowners Association. The financing from OFN, ROC USA, and others, helped to preserve and improve this 83-home community, while giving its residents the sense of well-being that comes from knowing their community can no longer be sold out.
