Latest news with #CDFI
Yahoo
19-05-2025
- Business
- Yahoo
Ellavoz Impact Capital and YouthBuild Secure Financing to Renovate Newark Building
NEWARK, N.J., May 19, 2025--(BUSINESS WIRE)--Ellavoz Impact Capital (EIC) has secured financing together with YouthBuild Newark, Inc. (YBN) to fully rehabilitate their building located at 571 Central Avenue, Newark. The reworked space will enable YBN to consolidate their operations into one facility for LEAD Charter School and its programming. The transaction furthers YBN's strategic plan of generating additional revenue while also enhancing educational programs. EIC successfully secured $10.6MM in New Market Tax Credit (NMTC) allocation from Wells Fargo Bank, N.A. and Community Impact Partners (CIP) as well as CDFI debt from CIP. The tax credits and debt financing will enable YBN to execute its rehabilitation project. The immediate and long-term impact of this revitalization includes: Enhanced Learning Environment: YouthBuild and LEAD students represent some of Newark's most marginalized youth. The refurbished facility will enhance student experiences through an improved learning environment more equipped to offer the services, programming, and support that the students need. Construction Jobs: 100% of the major construction vendors who will be working on this job are Newark-based and minority-owned. Community Revitalization: The improved building will act as a catalyst for revitalization in a low-income neighborhood. The new façade, with new first-floor windows and a main entrance fronting on Central Avenue, will communicate Newark's commitment to updating and modernizing the area. About Ellavoz Impact Capital: Ellavoz Impact Capital, LLC, (EIC) is a social impact investor, advisor, asset manager, and real estate developer focused on creating and preserving workforce and affordable housing and other community-oriented real estate properties. EIC's strategy concentrates investments into price-attainable housing and economic development projects by working with socially aligned operators, local nonprofits, and governmental agencies to deliver positive community outcomes and double bottom line returns. With teams in New Jersey, DC Metro, Florida and the Carolinas, Ellavoz currently has total managed and controlled assets with a value approaching $300 million. EIC is comprised of certified public accountants, attorneys, as well as real estate, finance, and economic development professionals. The team has both private sector experience and decades-long experience leading large community development financial institutions and nonprofit organizations. Collectively, the management team has led transactions with a total capitalization value of nearly $3 billion. View source version on Contacts Chris Ferrychris@ 732.616.8847
Forbes
07-05-2025
- Business
- Forbes
Why Native Communities Are The Future Of Impact Investing
In the search for the next frontier of innovation and opportunity, impact investors are increasingly looking toward Indian Country — a dynamic and under-invested market poised for transformative growth. From clean energy and regenerative agriculture to digital infrastructure and housing, Native communities are leading the way with bold, visionary projects that not only serve their people but offer scalable solutions for a changing world. At Oweesta Corporation, we've seen firsthand how Native CDFIs (Community Development Financial Institutions) are unlocking potential in tribal communities by supporting entrepreneurs, building housing, and advancing sustainable infrastructure. These are not charity-driven efforts; they are strategic investments delivering measurable returns — both financially and socially. Chrystel Cornelius speaking during 2023 Capital Access Convening in Juneau, AK. Oweesta Indian Country: A Growing Market of Opportunity Tribal nations are sovereign governments with growing economic engines. Today, Indian Country spans 574 federally recognized tribes across 35 states, generating over $130 billion in annual economic activity. And that figure doesn't even capture the full landscape of Indigenous economies — which includes state-recognized tribes, Native Hawaiian communities, and many others exercising self-determination and working toward federal acknowledgment. Yet, despite this strength, Native communities remain among the most undercapitalized populations in the U.S. Less than 0.4% of philanthropic funding and an even smaller fraction of investment dollars reach Native-led initiatives. That dynamic is beginning to shift. New investment models — rooted in Native leadership, sovereignty, and community-driven priorities — are reshaping what it means to invest in Indigenous economies. Through partnerships with values-aligned investors like Tamalpais Trust and philanthropic funders like the Northwest Area Foundation, Native communities are building energy sovereignty, supporting Native farmers and ranchers, expanding broadband access, and creating culturally grounded financial education programs. As Nikki Foster from the Northwest Area Foundation notes: 'Native CDFIs have a proven and successful model for building opportunity in Indian Country. Because they understand the unique assets and the traditional values of Native communities, they can provide pathways for entrepreneurs in ways that grow businesses and employment, even in places without a main street or a bank. And, they have the numbers to back this up. This approach builds healthy tribal and regional economies for the benefit of all.' 'Indian Country is rich with innovation, resilience, and opportunity. For too long, we've lacked access to capital — but that's changing,' says Chrystel Cornelius, President and CEO of Oweesta Corporation. Indigenous Innovation for a Sustainable Future The economic growth emerging from Indian Country is deeply tied to cultural preservation and environmental stewardship. Native entrepreneurs are leading solar and wind projects that restore ancestral lands, launching technology ventures that connect rural communities, and expanding food systems that prioritize health and sustainability. In fact, many of the industries that define the future — clean energy, regenerative agriculture, and climate resilience—are rooted in Indigenous knowledge systems. That makes Indian Country not just a market to watch, but a wellspring of leadership and innovation the world urgently needs. 'When you invest in Native communities, you're investing in time-tested, sustainable approaches that have served our people — and this planet — for generations,' adds Cornelius. A Better Return: Long-Term Prosperity for All Investing in Native communities creates ripple effects far beyond tribal lands. According to Oweesta's recent impact analysis, every dollar invested in Native CDFIs generates over $2.38 million in local economic impact — fueling job creation, supporting small businesses, increasing homeownership, and building generational wealth. In addition to social outcomes, investments in Native financial institutions show strong financial performance: low default rates, high portfolio recovery rates, and competitive internal rates of return (IRR) for patient capital vehicles. 'Native CDFIs are more than lenders — we are weavers of prosperity, resilience, and self-determination,' says Cornelius. Chyrstel Cornelius, CEO of Oweesta and Ronald Milsap, Director, U.S. Zero Barriers to Business with BMO during the awards ceremony at Oweesta's 2024 Capital Access Convening in Santa Ana Pueblo, NM. BMO was a sponsor for Oweesta's Capital Access Convening. Sam Levitan Photography From Philanthropy to Partnership Funders and investors are moving away from traditional charity models toward partnership-based approaches — ones that trust Native organizations to lead. This shift includes providing unrestricted funding, investments paired with equity, patient capital, and long-term commitments grounded in relationship, accountability, and respect for sovereignty. At Oweesta, we work alongside partners who understand that economic justice for Native people is not a peripheral issue — it's central to building a stronger, more inclusive economy. We have seen firsthand the transformational power of capital aligned with culture, vision, and community priorities. As Shannon Ward, Chief Lending Officer at Oweesta, affirms, 'At Oweesta, we see firsthand how investments in Native CDFIs transform lives, create sustainable growth, and build generational wealth. We are not just funding projects, we are empowering communities to thrive and lead the way toward a more inclusive and sustainable future.' The Time is Now Indian Country is no longer a hidden market — it's a hot market. With the right investments, tribal nations are poised to lead in shaping a just, sustainable future for all. For investors seeking real impact, resilience, and meaningful growth, the opportunity is clear: Partner with Native communities. Fund Native-led solutions. Build the future we all deserve. This is a content marketing post from a Forbes EQ participant. Forbes brand contributors' opinions are their own.
Yahoo
14-04-2025
- Business
- Yahoo
Trump Administration's Push To Cut CDFI Funding Faces Bipartisan Backlash as Rural Homebuyers Risk Losing Critical Support
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The Trump administration recently made a decision that could have negative consequences for a large segment of homebuyers traditionally not reached by big banks. President Donald Trump issued an executive order on March 14 to cut funding for the Community Development Financial Institutions Fund. Per the executive order, the multi-billion dollar program will see 'personnel' and 'function' cuts, reducing them to only what's legally necessary. Don't Miss:Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – CDFI, which was launched 1994, provides funds to rural areas underserved by big banks. These communities are traditionally in lower-income areas of the country. Pravina Raghavan, director of the Community Development Financial Institutions Fund, explains the fiscal 2024 impact to Financial Assistance awards was over $408 million. FA awards provide capital for CDFIs to finance affordable housing and increase homeownership among other services in low-income and distressed communities. After the executive order was issued, there was a swift response from both Democratic and Republican representatives. A letter co-authored by Sens. Mike Crapo (R-ID) and Mark Warner (D-VA), among others to Treasury Secretary Scott Bessent reaffirmed their support for the CDFI Fund, referencing its positive economic impact. Trending: BlackRock is calling 2025 the year of alternative assets. Bessent said during his confirmation hearing earlier this year that he supported CDFIs. He said they played a "very important" role in their target communities. Through the inception of the fund through February, Arkansas and South Carolina, two states that have voted for Republican presidential candidates since 2000, have received $3.2 billion, and $1.7 billion, respectively. Rep. French Hill (R-AR) and Sen. Tim Scott (R-SC) have been strong proponents of the fund in the past. In the letter to Bessent, the Defense Credit Union Council mentioned that a cut to the CDFI would impact 495 CFDI-backed credit unions, providing services for millions of U.S. to the CDFI's annual report for fiscal 2024, funding was the highest it has ever been to date and yet, still did not fulfill all of the requests received. "CDFIs play a key role with FHFA and our regulated entities in efforts to address the nation's affordable housing challenges, working on the ground in their communities to deliver positive outcomes for underserved households," then-Federal Housing Finance Agency Director Sandra L. Thompson said in November. If the executive order stands, there would be an even greater disparity between requests for funding and resources allocated. Read Next: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Send To MSN: 0 This article Trump Administration's Push To Cut CDFI Funding Faces Bipartisan Backlash as Rural Homebuyers Risk Losing Critical Support originally appeared on
Yahoo
09-04-2025
- Business
- Yahoo
Ether Leads Latest Crypto Selloff as Trump Ramps Up Trade War
(Bloomberg) -- Second-ranked cryptocurrency Ether led a fresh wave of selling in digital assets as US President Donald Trump insisted on pushing ahead with 104% tariffs on many Chinese goods, dimming hopes that a brutal trade war might be avoided. The Irish Hot Press Is the Low-Tech Laundry Trick the World Needs Trump Order on CDFI Fund Risks Aid for Small Businesses, Housing This Skinny Mexico City Tower Is Just 14 Feet Wide on One Side In Chicago, a Former Steel Mill Looks to Make a Quantum Leap Boston Mayor Wu Embraces Trump Resistance as Campaign Heats Up Ether fell more than 6% on Wednesday to hit its lowest intra-day level since March 2023 before trimming losses to trade at $1,432 at 9.51 a.m. in Singapore. Bitcoin, the largest cryptocurrency, dropped more than 3% before regaining some ground. Trump and top administration officials on Tuesday signaled the US was open to dealmaking that could reduce or eliminate higher tariffs on dozens of nations. But Asian stocks sank as wider financial markets were hit by fresh turmoil after the president ratcheted up the pressure on China. 'It seems like people have given up on a major recovery in crypto in the first half of the year,' said Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX. Put options offering downside protection for Ether and Solana were bought in bulk overnight, according to McNulty, who added that the next key support level for Bitcoin is around $65,000. ©2025 Bloomberg L.P.
Yahoo
08-04-2025
- Business
- Yahoo
Xi's No. 2 Says China Is Equipped to Fight Trump's Tariff Hikes
(Bloomberg) -- Chinese Premier Li Qiang said his country has ample policy tools to 'fully offset' any negative external shocks, and reiterated his optimism about the growth of the world's second-largest economy in 2025, despite the latest tariff threat from US President Donald Trump. The Irish Hot Press Is the Low-Tech Laundry Trick the World Needs Trump Order on CDFI Fund Risks Aid for Small Businesses, Housing This Skinny Mexico City Tower Is Just 14 Feet Wide on One Side In Chicago, a Former Steel Mill Looks to Make a Quantum Leap Boston Mayor Wu Embraces Trump Resistance as Campaign Heats Up During a call with European Commission President Ursula Von der Leyen on Tuesday, Li said China's macroeconomic policies this year have fully taken account of various uncertainties, according to an official readout. Beijing is strongly confident about maintaining the country's healthy and sustainable economic growth, added Li — China's No. 2 official, after President Xi Jinping. The China-EU call came hours before both economies are set to be hit by Trump's so-called reciprocal tariffs. While Europe faces an added 20% levy, China is in line for a massive surtax of totaling 104% starting 12:01 a.m. April 9. A US official told Bloomberg Tuesday the administration is indeed moving forward with that more-than-doubling plan. Li criticized the punitive action on all American trading partners as a typical example of unilateralism, protectionism and economic coercion. He added that China's firm response is not only to safeguard its own interests but also to defend international trade rules. 'Protectionism leads nowhere — openness and cooperation are the right path for all,' Li told Von der Leyen. Hollywood Ban? China's premier also urged the EU to strengthen communication with Beijing and expand mutual opening up, adding that both sides should push for a new round of high-level dialogue on strategic cooperation and trade, as well as on green and digital developments as soon as possible. Xi's government has pledged to retaliate against Washington's 'reciprocal' levies. In an illustration of the potential response, two influential Chinese bloggers on Tuesday posted an identical set of measures that authorities are mulling to hit back at the US, including duties on American farm goods and a ban on Hollywood movies. In Washington, Trump claimed that 'China also wants to make a deal, badly,' and said he's waiting for Beijing's call. Later, White House Press Secretary Karoline Leavitt told a press conference that the president 'will be gracious' if China's leadership reaches out. The impact of the US tariff hikes diminishes with each ratcheting up, according to analysis by Goldman Sachs Group Inc. economists. While an initial 50% surtax slashes China's GDP by 1.5 percentage points, a further 50% increase cuts by only 0.9 percentage points, the bank's economists including Andrew Tilton and Hui Shan wrote in a note. (Adds comments from US official on the implementation of tariffs on China and Goldman Sachs comments.) ©2025 Bloomberg L.P.
