Community development financial institutions have a long history in the US, and the country was admired by others for the success of its CDFI sector. Will a Trump order weaken this legacy?
Campaigners shocked as one of the US president’s latest executive orders could slash work of community development financial institutions, which offer capital to underserved entrepreneurs and businesses.
Social Enterprise UK and Big Society Capital are among nine organisations promoting the Community Enterprise Growth Plan, a “once-in-a-decade opportunity” to accelerate growth of social enterprise in underserved communities.
PLUS: Pioneering revenue-based fund launches in Scotland; Back Market raises $335m in “bullish” circular economy market; AU$8m boost for Queensland social enterprises; Dutch trio backs “truly disruptive” AI firm Envision – and more.
New York Fed-commissioned report looks at current landscape of place-based impact investing and finds firms such as Google and PayPal ploughing tens of millions of dollars in impact funds targeting left-behind communities.
The $1.9tn stimulus bill, like previous assistance packages, is good news for impact investors and social entrepreneurs. But what comes next will be crucial for them to help the new administration fulfill its pledge to build a fairer society.
This year’s ImpactAssets 50 list, a global database of impact investment fund managers, also reflects a soaring impact investment market and a growing focus on communities and marginalised groups.
