Enterprise Community Loan Fund (ECLF), the community development financial institution lending arm of national housing nonprofit Enterprise Community Partners (Enterprise), announced today that its Impact Note has raised over $100 million since relaunching in 2018.
The milestone signals an emerging trend as donor advised funds, investment firms, and retail investors increasingly leverage the Impact Note to align their portfolios with their values. Proceeds from sales of Impact Notes are used primarily as capital for ECLF loans to community-based, nonprofit, and mission-aligned for-profit, affordable housing, and community and commercial facilities borrowers.
Since its initial launch in 2010, the Impact Note has contributed to ECLF’s cumulative impact. ECLF has invested more than $2.9 billion to date, resulting in more than:
- 145,000 affordable homes created
- 591,000 health care visits facilitated
- 17,200 school seats created
- 6.8 million square feet of community and commercial space
“Over a six-year period of significant market volatility, our Impact Note has raised over $100 million, demonstrating its stability and strength as a capital product—and our investors’ commitment to vital community-serving projects,” said Elise Balboni, president of ECLF. “We’re incredibly grateful for their support in helping Enterprise advance racial justice, promote climate action, and address the urgent needs of low-income families across the country.”
ECLF continues to take steps to make impact investing more accessible to a variety of investors. By lowering the investment minimum in 2023 from $25,000 back to $5,000 for the Impact Note, more retail investors are able to participate—and they currently make up nearly half of its investor base. ECLF will also be launching a new digital investor portal in the first quarter of 2025, which will reduce barriers and make the investment onboarding process easier and more efficient. Retail and institutional investors alike will be able to complete investment documents for the Impact Note and, eventually, access transaction and impact reporting.
“There is great power in democratizing impact investing,” said Anna Smukowski, ECLF’s senior director of capital programs. “By opening the door at $5,000 and reducing barriers to investing, ECLF’s Impact Note is helping more people take an active role in building an equitable and sustainable future.”
Since the initial launch of the Impact Note program in 2010, ECLF has aggregated more than 598 investments from impact-first investors—foundations, individuals, donor advised funds, and corporations.
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About Enterprise Community Partners
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $72 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging. Join us at enterprisecommunity.org.
Disclaimer: This is not an offer to sell or a solicitation of an offer to buy any securities. Such an offer is made only by means of a current Prospectus (including any applicable Pricing Supplement) for each of the respective notes. Such offers may be directed only to investors in jurisdictions in which the notes are eligible for sale. Investors are urged to review the current Prospectus before making any investment decision. The securities are unsecured debt securities subject to terms, conditions and risks described in the Prospectus, including the possible loss of the amount invested. Payment is dependent on Enterprise Community Loan Fund’s financial condition at the time payment is due. No state or federal securities regulators have passed on or endorsed the merits of the offering of notes. Any representation to the contrary is unlawful. The notes will not be insured or guaranteed by the FDIC, SIPC, or other governmental agencies.
The Impact Note is currently not offered in Arkansas, Florida, Kentucky, Nebraska, and Tennessee.