Boston Impact Initiative Business Resilience Fund

Boston Impact Initiative

 

Nonprofit fund to provide flexible financing to minority-owned or -serving businesses in eastern Massachusetts to sustain operations in the face of Covid-19.

 

Min. Investment:

$25,000

Potential Return:

0%

Term:

3-year

 

Impact

Provide low-cost capital to enable minority-owned businesses to participate in the post-pandemic recovery.

 

Beneficiaries

Small businesses and their employees

 

Focus

Economic relief

 

Geography

Massachusetts

Potential Funding Example

Below-market funding to a minorityowned commercial laundry company that lost its hotel customer base and is now supporting hospitals.

 

Risk Considerations

Lending to small businesses carries risks, which are amplified by the economic impact of Covid-19.

Fair Food Network Fair Food Fund

Fair Food Network

 

Nonprofit fund that provides blended capital to innovative food entrepreneurs committed to improving community health by finding ways to increase broad access to better food.

 

Min. Investment:

$50,000

Potential Return:

1.5%

Term:

5-year

 

Impact

Provide flexible financing to food entrepreneurs, including those serving underserved communities.

 

Beneficiaries

Financially underserved food entrepreneurs and their customers

 

Focus

Economic relief

 

Geography

Midwest and Northeast (incl. Detroit, Chicago, Boston, Camden, NJ [future])

Potential Funding Example

Funding and technical assistance to a minority entrepreneur whose kitchen provides meals to frontline workers at the Health Department of the City of Detroit and the Henry Ford Hospital.

 

Risk Considerations

Grants will be subordinate to the fund’s notes. Additionally, fund investments are often early-stage ventures with limited operating history, a high degree of risk, and a lack of capital market access.

Nonprofit Finance Fund NYC COVID-19 Response Fund

Nonprofit Finance Fund

 

Nonprofit fund that will provide short-term financing ($100k-$3M) to fill financing gaps for NYC-based nonprofits providing healthcare and other essential community services.

 

Min. Investment:

$100,000

Potential Return:

0%

Term:

5-year

 

Impact

Keep NYC’s essential nonprofits in operation so they can provide essential services to their communities.

 

Beneficiaries

Nonprofits, their employees, and communities

 

Focus

Economic relief

 

Geography

New York City

Potential Funding Example

Financing to a nonprofit providing services to children of incarcerated parents to fill lost revenue from delayed permitting of new facility.

 

Risk Considerations

Flexible financing is provided for delayed revenue from contracts or fundraising events; nonprofits assessed for strength of business model, do not qualify if operating in deficit in the recent past.

* Structure and terms are being finalized

NY Forward Loan Fund

New York State of Opportunity

 

Special purpose vehicle that purchases loans from local CDFIs, providing affordable capital to small businesses, nonprofits, and landlords across New York state so they can retool and reopen.

 

Min. Investment:

$250,000

Potential Return:

0%

Term:

6.5 years

 

Impact

Support New York’s smallest businesses and nonprofits to preserve income and wealth opportunities in low income communities.

 

Beneficiaries

Small businesses, nonprofits, and landlords serving low income areas

 

Focus

Economic relief

 

Geography

New York state

Potential Funding Example

Affordable and flexible capital provided to an entrepreneur of color so they can retool, reopen, and recover.

 

Risk Considerations

Unsecured lending to small businesses carries significant risk. This risk is mitigated by $20 million of firstloss capital provided by two New York state agencies.

Texas Clinic Emergency Fund

Episcopal Health Foundation

 

Nonprofit loan fund that provides Federally Qualified Health Centers in Texas with capital to bridge receipt of future revenues and improve operations to better serve incoming patients.

 

Min. Investment:

$1m

Potential Return:

0% (year 1), 1-2% (year 2), 3$ (year 3)

Term:

3-year, with one 2-year extension

 

Impact

Support qualifying Texas clinics in business continuity and resiliency.

 

Beneficiaries

Healthcare clinics, their healthcare workers, and patients

 

Focus

Economic relief and resiliency

 

Geography

Texas

Potential Funding Example

Critical capital for a Federally Qualified Health Center in Texas that needs equipment to improve efficiencies or adjust to a pandemic business model.

 

Risk Considerations

There is no guarantee that the recoverable grant will be recovered. EHF is reviewing 3-year performance. This may not reflect future financial health in the COVID-19 era.

* Structure and terms are being finalized

Risk considerations of opportunities outlined in this sourcing report are provided for guidance only and may change with new information. All recoverable
grants and investments carry risk of capital loss, and this risk increases in a prolonged economic downturn caused by Covid-19. Please consult each issuer’s
detailed risk disclosures for more information on risks.

 

Disclosure: The above information does not constitute an offer to sell or a solicitation of an offer to purchase any security. Any such offer or solicitation
shall only be made pursuant to a definitive confidential offering memorandum, which will qualify in its entirety the information set forth herein and which
should be read carefully prior to investment for a description of the merits and risks involved. An investment entails a high degree of risk and no assurance
can be given that the investment objective will be achieved or that investors will receive a return of their capital.

 

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