Highlights: New fund for minority entrepreneurs in the southeastern U.S., our quarterly report, and higher interest rates on our investment.
Along with our partner Urban Advisors we just launched the UP Community Fund to increase financing to entrepreneurs of color in the southeastern United States.
Minority business owners face significant disparities accessing affordable credit, making it difficult for them to succeed and build wealth. The fund will offer affordable credit to minority entrepreneurs so they can grow their businesses and expand income and wealth-building opportunities for their employees and communities.
Our Q1 2018 report covers organizational highlights, portfolio stats, and an update from our CEO Jenn Pryce. And for some more in-depth reading, our 2018 Community Investment Note Prospectus is also published on the website.
Higher interest rates on our Note
The interest rates we offer investors depend primarily on the demand for our financing from our portfolio partners. Over the past years demand for our capital has increased, and in response we’ve increased rates on our Community Investment Note:
New rates (as of June 1st)
· 1 year, 1.50%
· 3 years, 2.00%
· 5 years, 3.00%
· 10 years, 3.50%
· 15 years, 4.00% (no change)
· 1 year, 1.00%
· 3 years, 1.50%
· 5 years, 2.00%
· 10 years, 3.00%
· 15 years, 4.00%
These rates are effective for investments made on or after June 1st, 2018.
With this growing demand for capital, there is even more opportunity for investors to put their money to work for good. You can always see our current rates/terms, and learn how to invest, on the Invest page of our website.
What we’re reading
Guaranteeing the Goals: Adapting Public Sector Guarantees to Unlock Blended Financing for the U.N. Sustainable Development Goals – Milken Institute Center for Financial Markets and the Organisation for Economic Co-operation and Development?
In the News
Why This Minority-Geared Impact Fund Launched In the Southeast (Charlotte Observer)