International Rescue Committee – CEO recoverable grant
Nonprofit fund, subsidiary of the International Rescue Committee, providing zero-interest, small-size loans and financial coaching to immigrants and refugees impacted by COVID-19.
Min. Investment: $25,000 | Potential Return: 0% | Term: 3-year |
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Impact Help refugees and immigrants fund basic needs, reduce interest burden, build credit, and improve financial literacy.
Beneficiaries Refugees, immigrants, and credit-thin individuals
Focus Economic relief
Geography United States |
Potential Funding Example
Financing to a family from El Salvador for $1,400 to allow them to pay off 20%+ interest rate auto loan; family also receives financial coaching and support from IRC.
Risk Considerations
Small-dollar lending to this vulnerable community will result in defaults or deferred payments. CEO funding pool has subordinated grant capital providing 25% first-loss capital, which can reduce loss of recoverable grant capital.
* Structure and terms are being finalized
LIIF COVID-19 Relief Fund
Nonprofit fund providing COVID-related relief to borrowers in the healthcare, PK–12 education, housing, and community services sectors.
Min. Investment: $100,000 | Potential Return: 0% | Term: 2-year |
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Impact Defer principal and interest and/or provide new funding to allow nonprofits and social enterprises affected by COVID-19 to maintain operations.
Beneficiaries Low-income communities and businesses
Focus Economic relief
Geography United States (focus on CA, NY, NJ, DC) |
Potential Funding Example
Deferral of principal and interest on a loan to a nonprofit health clinic providing care to poor and uninsured residents of northwest Pasadena.
Risk Considerations
Recoverable grants will serve as first-loss capital in a pool of current and future loans to businesses impacted by COVID-19. Thus, investors should anticipate some or a significant loss of capital.
Footnotes
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.
Maintenance fee may be applied
Accounts having a balance below $25,000 may be subject to an annual maintenance fee of $250.
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