November 2021 Newsletter

Guarantees Making a Difference

Marking CIGP's Success as the Program Enters Its Third Year in Operation
In 2019, a team of national and local impact investors launched an innovative new program to support impact-driven intermediaries participating in affordable housing, climate, and small business lending. They envisioned a platform guarantors could use to collectively deploy financial guarantees in a way that would raise efficiency and increase the amount of capital available for difference-making projects. Through the Community Investment Guarantee Pool (CIGP), these investors saw tremendous potential in a financial tool that could leverage participants' balance sheets and backstop promising ventures. If the model proved workable, capital could flow more smoothly to borrowers otherwise walled off from the resources necessary to thrive. 

Two years in, CIGP is already proving itself a unique resource for impact that unlocks vital “but for” dollars and catalyzes projects headed by diverse stakeholders. We reflect on the program's early challenges, present successes, and our plans for CIGP going into 2022.
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Partner Spotlight: Neighborhood Impact Investing Fund
Supporting Affordable Housing Across Baltimore

One of our impact investor partners, the Neighborhood Impact Investment Fund (NIIF), is doing the important work of providing capital support and promoting equitable growth in Baltimore, MD. Last month, the Fund closed two housing investments and launched a new fund for small developers.

As the city recovers from displacement caused by COVID-19, the Fund is extending a $1 million construction loan to support the renovation of a series of rowhomes into energy-efficient affordable housing and ground floor commercial space. In addition, they are providing a $1.3 million bridge loan to rehabilitate 32 for-sale housing units in the city. Funds are now available and applications are open for the organization's $3 million DASH Fund for small developers.
Local Impact Investing in Action
Candid 2021 Network Days

Last month, LOCUS Senior VP Deb Markley moderated a panel during Candid's Network Days. Two community foundations shared their approach to local impact investing, including how they got started, what they learned through the process, and what kind of impact they created in their communities. Participants learned about what place-based impact investing is and how it can be a powerful tool for community foundations to advance their mission. Listen to the full inspiring conversation here.
Reimagine Together
Growing with the Mission

On 12/8 at 10AM ET, LOCUS' parent company, Virginia Community Capital, will celebrate its 15-year anniversary with "Reimagine Together: Growing with the Mission." This virtual convening will be headlined by a panel of experts who will explore topics related to economic development, small business, affordable housing, philanthropy, and community development policy. The discussion will aim to establish the need for reimagining community development and the roles of various stakeholders, especially considering the issues amplified in the last year and a half. Be sure to register for the event here.
News from the Field
LOCUS Capital, Inc. is a Registered Investment Advisor Firm. Advisory services are only offered to clients or prospective clients where LOCUS Capital, Inc. and its representatives are properly licensed or exempt from licensure. LOCUS Capital, Inc. and its representatives do not furnish investment advice or services through this website. Past performance is no guarantee of future returns.

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