,

During the Pandemic, PadSplit Keeps Atlanta’s Service Workers Housed

In 2017, PadSplit launched as an innovative new model providing affordable housing for workers who have been unable to keep pace with the city’s rising rents, which according to RentCafe have increased by 65 percent in the last decade. In the three years of its existence, PadSplit has now housed more than 1,000 individuals, called “members,” throughout metro Atlanta. These members average $21,000 in annual income and typically work in hourly roles such as grocery store workers, security guards, restaurant employees, teachers and other posts that keep a community running.

Before PadSplit, these community workers had few, if any, reasonable housing options that were close to job centers. This lack of choices often led to individuals sleeping in airports or cars, being exploited in unsanitary extended stay motels or living far away and cobbling together 2-3 hour long commutes just to get to a job.

With years of experience in affordable housing, PadSplit’s founder Atticus LeBlanc realized there was a better model that could align incentives for workers, property owners and even cities. In launching PadSplit, LeBlanc showed other owners how taking existing, unused housing stock could create shared housing experiences that include private bedrooms, furnishings, utilities and healthcare access, alongside weekly, not monthly, rent payments. Having fixed costs made it far easier for individuals to budget and save, and all the while, property owners saw an increase in profitability and cities didn’t need to leverage tax subsidies for housing. The model did, in fact, align incentives and was working. PadSplit’s members report an average savings of $516 per month, as well as shorter commute times and improved credit ratings.

Fast forward to today and the Covid-19 crisis, where many of these same community service workers are now laid off, furloughed and unable to leave homes for public health and safety. Knowing that PadSplit’s member base would be severely impacted by the crisis, the organization quickly sprung to action to help its members ride out the crisis in the following ways:

  • Seeking grants: To date, PadSplit has raised more than $60K in funds that help members who cannot afford to pay their rent costs. 
  • Reducing fees: To cover all its bases, PadSplit reached out to all property owners and worked to negotiate lower rates to make it easier for members who could pay something, as well as allowing grant donations to last longer.
  • Providing emergency services: PadSplit is coordinating with other social impact organizations, nonprofits and companies to provide food, groceries and even toilet paper!
  • Offering healthcare: And, PadSplit is actively working to remind its members that they each receive 24/7 access to Teladoc services, in case anyone requires medical attention.

As the crisis continued, PadSplit didn’t just stop with the above plan. The organization layered in additional services for members to better position themselves when the economy re-opens. At the beginning of April, PadSplit began an employment assistance program that matches a member’s skills with available jobs, and they’re scraping job postings for any companies that are urgently hiring. 

All of this quick action has given PadSplit’s members peace of mind and allowed PadSplit to continue its own operations and prepare for growth in the coming recession. For more information about PadSplit, including how to rent out an available room in your home, visit PadSplit.com. Or, if you’d like to donate to keep hourly service workers housed, visit here.

###

 

PadSplit, Inc is Public Benefit Corporation based in Atlanta, GA

 

Ways to Support COVID-19 Relief and Recovery

Our immediate reaction to the ongoing pandemic and recession was to develop a list of capital and technical resources for small businesses and nonprofits in Georgia. If you are looking for capital to sustain your operations, please visit our page on Small Business and Nonprofit Resources During the COVID-19 Crisis.

On this page, we’re looking to aggregate funding needs related to COVID-19 relief and recovery efforts that either leverage external funding, have a rotational feature or blend financial tools. If you hear of any initiative not listed below, please email [email protected].

Community-based Funds

Each of these funds either started or accelerated efforts recently to support their networks of small business entrepreneurs bringing important goods and services to neighborhoods that historically have not benefited from mainstream financial systems and have been disproportionally impacted by recent events.

  • Atlanta Wealth Building Initiative (AWBI): Begun as a collaborative effort of several leading community development and foundation professionals in Atlanta, AWBI has raised capital for a small business grant and loan fund, which is actively extending capital to entrepreneurs hit hard by the current pandemic.
  • Center for Civic Innovation (CCI): An incubator and accelerator for civic entrepreneurs, CCI is raising emergency relief capital for its entrepreneurs and organizations that were on the frontlines of gentrification and revitalization before the pandemic. Given their work in already underfunded and vulnerable communities, they need support now more than ever.
  • Georgia COVID-19 Emergency Relief for Farmers: A joint effort from Georgia Organics, the Food Well Alliance, Community Farmers Markets, Wholesome Wave Georgia, Global Growers and The Common Market Southeast, The Farmer Fund was created to support farmers in need. While originally created to address natural disasters, stakeholders have activated the Fund to support farmers affected by COVID-19.
  • Metro Atlanta Mutual Aid Fund (MAMA Fund): Focused on our most marginalized, the MAMA Fund supports Black, Indigenous, and other peoples of color that have endured hardship during the COVID-19 pandemic. They will fund personal and familial needs for those in Fulton, DeKalb, Clayton, Cobb, Douglas, Henry, Gwinnett and Rockdale counties.
  • Start:ME: An initiative of Emory University’s Social Enterprise @ Goizueta Business School, Start:ME is a micro-business accelerator operating in Clarkston, East Lake and South Atlanta. To support the graduates of their program who have had to close or pivot, they are raising $20,000 to be re-granted in the form of emergency grants, business transition to online sales support, special learning and expert advisory sessions, and more.
  • Village Micro Fund: Part of AWBI’s community of practice, The Village is working with AWBI to provide grants and loans to small businesses in southwest Atlanta. They also operate a micro-business loan fund and provide technical assistance to micro-entrepreneurs

Community Development Financial Institutions (CDFIs)

Mission-driven financial institutions that lend in historically dis-invested neighborhoods, most CDFIs operate loan funds that have a focus on specific themes (e.g., small business, housing, food access, etc.). Like unregulated loan funds, credit unions and banks may also seek certification from the CDFI Fund, the agency within the U.S. Treasury in charge of certification. For an overview of CDFIs operating in Georgia, check out the guide to CDFIs that GSIC put together for a workshop we hosted in Q3 2019.

Loan Funds

  • Access to Capital for Entrepreneurs (ACE): The leading CDFI small business lender in Georgia, ACE operates a $30M loan fund with retail and restaurants representing roughly 50% of the fund. They are currently raising capital (grants and debt) to provide extremely concessionary, flexible capital (including PPP loans) to existing borrowers that are facing severe hardship.
  • Albany Community Together! (ACT!): Based in Albany, GA, where COVID-19 has hit hardest in the state, ACT! is a small business lender sure to be experiencing distress.
  • Atlanta Neighborhood Development Partnership (ANDP): As a developer and lender of single- and multi-family housing, ANDP has called on funders to support the immediate relief efforts  and front-line workers in the community.
  • Community Housing Capital (CHC): CHC aggregates loan capital to finance the creation and preservation of affordable housing through its network of 245 affordable housing developers across the country. Both ANDP and NeighborWorks Columbus are in their network.
  • Community Housing Services Agency, Inc. (CHSA): Established through a partnership between the city of Savannah and local banks, CHSA had developed over 1,200 units of affordable housing since 1989.
  • Georgia Cities Foundation (GCF): A part of the Georgia Municipal Association (GMA), GCF works with development agencies throughout the state to support small business lending and other economic development initiatives.
  • LiftFund: A micro-business lender, LiftFund is approved as a PPP lender but has limited access to capital concessionary enough to makes the loans, which are limited to charging 1% interest.
  • Local Initiatives Support Corporation (LISC): A large CDFI that is newer to Atlanta, LISC is working with DeKalb County to offer concessionary lending and are looking for grants to increase their available capital. They are also working to increase funding available for micro-lending.
  • NeighborWorks Columbus: Promotes and provides access to fit and affordable housing and builds assets for financial independence for all citizens of low to moderate income.
  • Reinvestment Fund (RF): A lender of considerable capacity, RF has taken a leadership role in developing a liquidity vehicle for CDFIs that have substantive pipeline but an inability to continue lending operations due to limited cash on hand.
  • Small Business Assistance Corporation (SBAC): Savannah’s only CDFI loan fund, SBAC is no longer accepting applications for it’s recovery loan program.
  • Southwest Georgia United: Based in Cordele, Southwest Georgia United operates several community-based programs in addition to its CDFI-lending activities for small businesses and home repair. Their office has remained open but has requested clients communicate via email or phone during the pandemic.

Credit Unions:

Four of Georgia’s CDFI credit unions are members of Inclusiv (noted below with asterisk [*], a nation-wide organization of community development credit unions. The On the Rise Financial Center, based on the Westside of Atlanta, is Inclusiv’s only place-based initiative and seeks to provide financial education and access to banking. Supported by the Arthur M. Blank Family Foundation, Equifax and others, program participants graduate with a modestly-funded bank account. Credit unions, like banks, make loans based on capital available, so placing funds on deposit is the primary way to support their lending programs.

  • 1st Choice Credit Union (Atlanta) *
  • B.O.N.D. Credit Union (Atlanta) *
  • Core Credit Union (Statesboro)
  • Credit Union of Atlanta (Atlanta) *
  • Interstate Federal Credit Union (Jessup)
  • Peach State Federal Credit Union (Lawrenceville) *

Banks

Both Carver State Bank and Citizens Trust Bank are among the oldest Black-owned banks in the United States, as they were both founded before the Great Depression. Today, they are among Georgia’s most important mission-driven lenders.

  • Carver State Bank (Savannah)
  • Citizens Trust Bank (Atlanta)
  • South Georgia Banking Company (Tifton)

Community Foundations

Check out this map to see which counties each community foundation covers.

Federally Qualified Health Clinics (FQHCs)

Providers of healthcare services in low-wealth communities, FQHCs are seeing reduced revenues as a result of the pandemic. While the CARES Act provided funding for FQHCs for expenses related to the coronavirus public health emergency, there are additional funding needs — especially in south Georgia. A Boston-based CDFI, Capital Fund, surveyed all the regional FQHCs earlier this year. According to the Georgia Department of Public Health, here are the service areas of Georgia’s FQHCs.

Along with FQHCs, School Based Health Centers (SBHCs) and Charitable Clinics, together, provide medical care to approximately 885,000 of Georgia’s uninsured, low-income and medically vulnerable residents. Immediate funding needs for these critical players in Georgia’s community based health safety net include dollars for operating support and practice adaptation. Follow the links for comprehensive listings of both SBHCs (here) and Charitable Clinics (here).

,

ServeScape: Connecting People with Place through Plants

  • Entrepreneur Name: Mario Cambardella
  • Venture Name: ServeScape
  • Impact Focus Area(s):  Landscape and Environment
  • Business Stage:  Startup
  • Year Venture Established: 2020
  • Business Type: Private – Landscape Consulting 

There is a disconnect between people and the natural environment. We get in our cars, park in our garages, work in our offices, and repeat. Yet even in our status-quo, there is a longing for connection. This is especially true as we struggle with the disruption to our social fabric caused by COVID-19. In a time where disconnect from people makes us feel isolated, we are searching for a tangible anchor; something that grounds us to our sense of place, gives us hope, and spreads joy.  

For me, this occurs when I am connected to the natural world.  For example, when I see the seed that I planted is sprouting, or the tree that I planted is blooming. Instantly, in the midst of instability, I feel rooted as I realize that the choice I made to care for a plant will serve the entire landscape with beauty and resiliency. In other words, my action directly contributes to the environment that I want to create.            

This is the foundational idea behind ServeScape. ServeScape seeks to bridge the disconnect between humans and nature by making it easier for people to create their own beautiful and resilient landscapes. This is done through leveraging technology to perform plant curation; a novel concept in the relatively antiquated landscape industry.  

Previously, plant suppliers and landscape professionals were stuck using old technology to account for inventory, make sales, and find the best plant. This was a slow process where plant inventory sat in the nursery for months, sometimes years, before being moved. Using our online marketplace, individuals and landscape professionals can shop real-time plant pricing and inventory.

In addition, ServeScape’s extensive plant attribute index allows for customers to design a multi-functional landscape by choosing a plant with an array of desired characteristics. These tools provide a systematic approach to meeting the needs of suppliers, landscapers, and individuals all on one website. Once the order is submitted, ServeScape uses our network of Georgia-grown plants and suppliers to deliver the plants right to your door. This system allows for you (the customer) to have full control over the environment you want to create for yourself, or your client, and ensures you are receiving the best plant at the best price.    

At ServeScape, we recognize that a healthy ecosystem is dependent upon the connectedness of each individual part that makes up the whole. While our mission is to connect people with place through plants, we believe that large-scale social impact is dependent on multiple missions sharing the same vision for a more sustainable, socially just, and resilient future. We are excited to be a part of the GSIC conversation and look forward to serving your scape!

 

,

Bridging the Food Access Gap During a Pandemic

Goodr has joined forces with Atlanta Public Schools to provide emergency food to APS students at five meal distribution sites during closure. Students will be able to access prepared meals from 10am-12pm Monday – Friday.

This includes: Douglas High, Cleveland Avenue Elementary, Bunch Middle, Sylvan Middle and Phoenix Academy at Crim. Goodr is also working closely with Atlanta Public School Board members to develop a plan that goes further to deliver food directly to apartment and housing communities thus eliminating any transportation barriers that will prevent students from accessing food during this closure.

  • Ready-to-eat meals will also be available at Loaves & Fishes at St. John Orthodox Church at 543 Cherokee Ave. SE Atlanta, GA 30312 from Monday – Friday from 9AM -10AM.
  • As of Monday, March 16th, all APS families can report to one of the five sites from 10AM-12PM to receive a bag of shelf stable grocery items from Atlanta Community Food Bank.

Goodr Founder and CEO, Jasmine Crowe said in a statement, “Goodr is experiencing a massive uptick in requests from nonprofits, families, and senior homes for food. At the same time, several of our client venues are having events and initiatives get canceled. What we know for sure is that with schools across the nation now closed, people being asked to work from home, and the growing number of people out of work – food is one resource that is critical at this time.”

On March 13th alone, Goodr was able to distribute over 90,000 pounds of food from three major sports arenas, event venues, schools and offices. They were able to deploy drivers in minutes, clearing refrigerators and freezers to feed the need. This rescued food served people in need across four counties. 

Building on that momentum, Goodr created a short list of ways you can help “Do Goodr:”

  • One-Time Pick-ups: They’ve enabled one-time pick-ups to help get food to more people. Don’t let good food go to waste. If your office or venue has food to donate – Goodr can pick it up today! Visit them online at www.goodr.co to get started.
  • Sponsor a Pick-up: Goodr serves a massive non-profit network nationwide and if you want to pitch in and help, you can sponsor a pick-up allowing them to do more good. Visit them online at www.goodr.co to get started.
  • Join us: Goodr will be hosting pop-up grocery stores in the Atlanta community over the next two weeks, you can join them as a volunteer. Text DOGOODR to 33777.
  • Spread the word: Please don’t let good food go to waste while our neighbors are hungry. Share Goodr’s services with your network and let them know how they can help!

###

Goodr provides a secure ledger that tracks an organization’s surplus food from pickup to donation, delivering real-time social and environmental impact reporting analytics. The Goodr model aims to provide a triple-win solution by improving an organization’s bottom line through charitable tax donations, reducing its greenhouse emissions from landfills and getting its edible surplus food to local communities in need.

 

,

United Way of Greater Atlanta and Community Foundation for Greater Atlanta announce the Greater Atlanta COVID-19 Response and Recovery Fund

This post originally appeared on The Community Foundation for Greater Atlanta’s blog on March 17, 2020.

 

March 25, 2020

ATLANTA – With children out of school, businesses temporarily closing, performances shuttered and workers being laid off, there has never been a time where community support and financial resources have been more badly needed. United Way of Greater Atlanta and Community Foundation for Greater Atlanta are announcing the Greater Atlanta COVID-19 Response and Recovery Fund.

The new fund will support those most vulnerable to the economic and health-related impacts caused by the pandemic. The Community Foundation is committing $1 million and United Way of Greater Atlanta is contributing $500,000 to seed the fund. Additional dollars will be sought from individual donors, corporate partners and foundations.

Funds raised will focus on providing crucial services to high-risk audiences including seniors, families with children who normally receive free or reduced meals at school, families in need of childcare, homeowners and renters at risk for eviction, and hourly/low-wage workers.

“United Way and our partners at the Community Foundation are uniquely positioned to quickly and effectively identify areas with the greatest need, activate and connect people to resources,” said Milton Little, president and CEO of United Way of Greater Atlanta. “We are committed to securing and supporting the community safety nets needed for Child Well Being in these unprecedented times.”

“The Atlanta Regional Commission’s 2019 Metro Atlanta Speaks survey revealed that 46 percent of families in metro Atlanta do not have $400 on hand in case of an emergency and this crisis will only amplify that vulnerability,” said Lita Pardi, interim vice president at the Community Foundation for Greater Atlanta. “Bolstering support of our nonprofits addressing these needs is essential, and funders are working together to quickly support the residents and communities in our region.”

Individuals and families impacted and in need of support can contact United Way of Greater Atlanta’s 2-1-1 Contact Center. There are many ways to connect to 2-1-1 including by phone, chat, email or mobile app. 2-1-1 is a valuable resource that is available 24-hours and 7 days-a-week.

To donate to the COVID-19 Response and Recovery Fund, click here.

 

UPDATE: Since this article was posted, the COVID-19 Response and Recovery Fund has received an additional $10 million from two renowned Atlanta institutions: $5 million from The Coca-Cola Company and $5 million from the Robert W. Woodruff Foundation (read more here).

###

About United Way of Greater Atlanta
United Way of Greater Atlanta, the largest United Way chapter in the nation, focuses on ensuring that every child in Atlanta has the opportunity to reach his or her full potential. The organization invests in more than 200 programs in 13 counties through the Child Well-Being Impact Fund and works to help children succeed in school, improve financial stability of families, provide affordable and accessible healthcare and end homelessness. For more information, visit: unitedwayatlanta.org or Facebook, LinkedIn, Twitter and Instagram.

About the Community Foundation for Greater Atlanta
Since 1951, the Community Foundation for Greater Atlanta has been leading and inspiring philanthropy to increase the vitality of our region and the well-being of all residents. With nearly 70 years serving the 23-county Atlanta region and a robust team of experts, the Community Foundation expands its philanthropic reach and impact by providing quality services to donors and bold, innovative community leadership. The Community Foundation is a top-20 community foundation among 750 nationally, with approximately $1.2 billion in current assets, and is Georgia’s second largest foundation. For more information, visit: cfgreateratlanta.org or connect with the Foundation via Facebook, LinkedIn and Twitter.

 

,

Small Business and Nonprofit Support During the COVID-19 Crisis 

Please visit the Atlanta Wealth Building Initiative’s Resource Roundup for Small Businesses and Nonprofits.

 

LAST UPDATED: Monday, June 23 at 10:00 am

With so many concerns about the impact of isolation amidst the current COVID-19 crisis, we thought it would be helpful to roundup what resources are available today. We’ve pulled this list from our partners at ACE, AWBI, CCI, Invest Atlanta, Start:ME and others. Thank you to everyone working so hard to support small businesses in our community! 

A summary of where we find ourselves: “50% of Americans work for or own a small business. Many of these are local face-to-face Main Street services — restaurants, bars, coffee shops, barbershops, hair salons, auto repair shops, and dry cleaners that are living on the brink. The average small business has 27 days of cash flow and for many restaurants, it’s more like 16 days. For these businesses, shutting down operations for even a few days risk running out of cash. And, “when you run out of cash, as a small business you’re dead,” says Karen Mills, former Administrator of the SBA.” (The New Localism) 

We’ll try to keep it updated but things are moving so quickly, that we need your help! If you hear of anything not on this list, please email [email protected] and we’ll update it as quickly as possible. 

To stay updated on COVID-19 news:

 

PUBLIC SECTOR PROGRAMS

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

The President signed the CARES Act into law on March 27, 2020. The law created two new SBA programs:

  • Paycheck Protection Program (PPP): Provides cash-flow assistance through 100 percent federally-guaranteed loans to employers who maintain their payroll during this emergency. Loans are eligible for forgiveness. Application forms, which you can submit with a participating SBA 7(a) lender starting on April 3, came out on April 1.
    • If you think you are eligible (run a for-profit or non-profit with fewer than 500 employees) and interested, contact your bank or qualified lender as soon as possible; these funds are available on a first come, first served basis and are likely to be exhausted quickly.
    • If you do not currently have a banking relationship or your bank is not participating in the program, Heavy.com is maintaining is a list of banks currently participating in the program.
    • If you have applied for a PPP loan, consider adding your experience to the COVID Loan Tracker – a project led by a small business in Miami to assess the experience of other small businesses trying to access this capital.
  • Small Business Debt Relief Program:  Provides immediate relief to small businesses with non-disaster SBA loans and microloans for six months. You may participate in this debt relief program and apply for a PPP loan.

The CARES act created a new payroll tax credit up to $5,000 per employee who earns at least $10,000, the Employee Retention Credit, to encourage employers to encourage eligible employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19. Find more information on the IRS website. If you pursue a PPP loan, your business is not eligible for this tax credit.

The act also provides for an advance of funds through the Economic Injury Disaster Loan (EIDL) program, which is listed below.

For more information, please review this resource from the U.S. Senate Committee on Small Business and Entrepreneurship. Nonprofits are also eligible for the programs included in the CARES Act; you can find a guide on how to access these funds through the National Council of Nonprofits.

SBA Economic Injury Disaster Loans (EIDL)

Working capital loans available to small businesses, small agricultural cooperatives, small aquacultural businesses and most private non-profit organizations.  Through the CARES Act, businesses can request an advance of $10,000 after completing an EIDL application. You may have both EIDL and PPP loans, but they may not be used for the same purpose.

Applicants can apply online, where they can find additional disaster assistance information and download applications. To get more information, applicants can contact SBA’s Customer Service Center at 800.659.2955 or [email protected]. Individuals who are deaf or hard-of-hearing may call 800.877.8339. Completed applications can be mailed to U.S. SBA, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 

The University of Georgia Small Business Development Center (SBDC) at Kennesaw State University is available to answer questions and help address any concerns about cash flow, payroll, marketing, the effect of the COVID-19 virus business and keep you up-to-date on the latest on the SBA Economic Injury Disaster Loan Program. To schedule a teleconference appointment with one of our consultants, email us at [email protected] or call 470.578.645 

SBDC also produced a Guide to Conquering a Business Crisis that could be helpful in cash management, pricing and cost containment, supply chain management, and marketing.

SBA Express Bridge Loan (EBL) Pilot 

The EBL pilot program allows SBA Express Lenders authority to deliver expedited SBA-guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the small businesses apply for and await long-term financing. If you are a current borrower of SBA products, find more information on the SBA website and contact your lender to determine whether or not you are eligible for this funding.

Invest Atlanta Continuity Loan Fund — Funds for the loan fund have run out

To ensure the viability of city businesses and to help sustain employment, Invest Atlanta has established a Business Continuity Loan Fund (BCLF) with $1.5 million of funding from the City of Atlanta. The fund will offer small businesses zero-interest loans to address a lack of working capital and cash flows as a result of reduced consumer demand, the ability to fulfill product or service orders and other economic conditions. If you have immediate questions, please contact [email protected] or visit their website. 

City of Decatur Emergency Small Business Loan Program

The City of Decatur, Decatur Development Authority and Legacy Decatur have made $500,000 available for zero-interest loans to Decatur-based businesses severely impacted by the COVID-19 pandemic. Applications for loans up to $25,000 will be open from May 5 to May 15. If the program is oversubscribed, they will use a lottery system to allocate the loans. For more information, check out their program guide.

City of Atlanta Grant Relief Funds:

  • Strength in Beauty Fund: Cosmetology professionals impacted by the pandemic can apply for up to $1,000 in no-strings-attached grant funding. Apply here.

SBA Counseling and Training 

If you need a business counselor to help guide you through the current uncertainty, contact our regional Small Business Development Centers (SBDCs), Women’s Business Centers (WBCs) or SCORE membership chapter.

To find a local resource partner, visit the SBA website.

UGA’s SBDC has put together a fantastic page outlining the resources above, which you can find on their website.

 

NONPROFIT SECTOR PROGRAMS

ACE Small Business Loans — DeKalb Co. loans

ACE offered current borrowers payment deferments on existing debt and has opened up applications to access additional capital to get through the next few months. Supported by various capital providers, ACE will be making loans for three programs at the moment:

  • PPP Loans: ACE is going to process a limited number of SBA Paycheck Protection Program (PPP) applications when the program reopens for Georgia-based businesses only. They are accepting applications for loans between $10,000 and $75,000. ACE is currently referring clients to 1st Choice Credit Union, as they have run out of PPP funds.
  • DeKalb County Small Business Loans: This program is designed to provide below market rate fixed asset financing to new and existing small businesses who want to do business in DeKalb County. Find the application on their website.
  • Fulton County Emergency Loan Program: ACE is currently working on the abundance of loan applications that they received for this loan program. Their application process is ON HOLD for now while they process the applications to see if there is still funding available.
  • Development Authority of Fulton County Business Contingency Loan Program: ACE is currently working on the abundance of loan applications that they received for this loan program. Their application process is ON HOLD for now while they process the applications to see if there is still funding available.

See a letter penned by Grace Fricks, ACE’s founder and CEO, to the small business community on their website.

Reinvestment Fund

Reinvestment Fund is an authorized SBA 7(a) lender and is accepting applications for the Paycheck Protection Program. Applications are ON HOLD. For more information, go to their website.

LISC Grants for Small Businesses — PPP loans; check their website often, as new grant and loan funding will arise irregularly

LISC announced in a May 4 email that they would be processing PPP loans through immito, their small business lending subsidiary. Learn more.

The LISC Rapid Relief and Resiliency Fund will inject much-needed, flexible resources into historically under-invested communities. These are the places that are suffering most from the economic fallout gripping our nation due to the COVID-19 pandemic. LISC aims is to raise up to $100 million in grants, loans and other investments for the Fund. LISC has raised several million dollars, with additional capital committed daily. The applications cycles are irregular and have shifting guidelines, so check their website regularly.

The programs and applications can be found on their website.

Please visit their website for further information or sign up for updates and notices here or email [email protected] to sign up. And follow their Pay It Forward Live concert series to show your support for small business with some of the biggest names in music.

COVID-19 Small Business Relief Fund  — Funds have run out

The Atlanta Wealth Building Initiative launched a grant program for small businesses in Atlanta. To combat risks and offer financial stability to small businesses in Southwest, Southeast, and Northwest Atlanta, a COVID-19 Small Business Relief Fund will be offered to qualifying businesses. Grants ranging from $2,500 – $25,000 will be awarded cover employee salaries, rent, supplier expenses, and technical assistance for up to 3 months. Learn more!

Small Business Assistance Corporation (SBAC) COVID-19 Recovery Loan Program  — Funds have run out

To assist small businesses impacted by the current outbreak, SBAC, a Savannah-based CDFI, is offering 3-year, 6% debt of up to $50,000 to businesses that have lost revenue due to COVID-19. Visit their website for more information.

LiftFund Grants for Small Businesses  — Grants funds have run out

The past few weeks have been uncertain and difficult. Supported by the Truist Foundation, LiftFund is offering grants to small businesses. Find more information on their website.

Restore ATL Fund

Supported by the CareSource Foundation, the Metro Atlanta Chamber is accepting applications for $5,000-10,000 grants to Black-owned small businesses in Atlanta. Learn more.

Georgia COVID-19 Emergency Relief for Farmers

A joint effort from Georgia Organics, the Food Well Alliance, Community Farmers Markets, Wholesome Wave Georgia, Global Growers and The Common Market Southeast, The Farmer Fund was created to support farmers in need. While originally created to address natural disasters, stakeholders have activated the Fund to support farmers affected by COVID-19. Find more information at their website.

Start:ME COVID-19 Small Business Resilience Support

Emory University is currently raising $20,000 to re-grant to graduates of its Start:ME micro-business accelerator program that operates in East Lake, South Atlanta and Clarkston. To donate or get more information, check out their website.

Center for Civic Innovation COVID-19 Response

CCI is looking to support its fellows and residents to help cover gaps faced by community leaders of organizations and efforts that are addressing inequality in Atlanta. Learn more at their website.

Kiva 0% Loan Program

As always, global micro-lending platform Kiva is offering 0% loans up to $15,000 to U.S.-based small businesses. While Kiva is rather industry-agnostic, they will look to have you fundraise for the loans first from your network over a 15-day period and then their wider circle over a 30-day period. For more information, visit their website.

The Red Backpack Fund

The Spanx by Sara Blakely Foundation is opening up a grant application for female entrepreneurs. The Foundation will make 1,000 grants valued at $5,000 each. Each month, we will accept additional applications. The portal will open for applications again on May 4, June 1, July 6, and August 3. Check out their website for more information.

Seed Commons COVID-19 Worker Response Fund

An organization that supports co-operative financial intermediaries, Seed Commons is raising funds to support worker owned businesses affected by the current COVID-19 crisis. For more information, please visit their website.

The Giving Kitchen COVID-19 Fund

A James Beard-award winning organization for its humanitarian work providing financial assistance to food industry workers struggling with illnesses, The Giving Kitchen started a COVID-19 Fund to provide financial assistance to food service workers either diagnosed with COVID-19 or under mandatory quarantine. Learn more.

With so many restaurants laying off staff due to lost revenue, The Giving Kitchen has a list of resources for those facing non-medical emergencies. You can find more information on their website.

Sweet Relief COVID-19 Fund

While they usually provide grant funds to musicians struggling with illness, disability and age-related problems, Sweet Relief launched a COVID-19 Fund with the support of a generous donor. Funds are limited but available to musicians struggling to make ends meet due to illness or lost revenue due to cancellations. Visit their website for more information.

Save Small Business COVID19 Fund

The U.S. Chamber of Commerce Foundation is providing $5,000 grants to businesses in distressed areas that have between 3 to 20 employees. For more information, check out their website.

Hello Alice $10,000 Grants

Hello Alice is offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus, as part of our broader mission to ensure Business for All. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community. Find more information on their website.

Regional Grants for Nonprofits 

The National Center for Family Philanthropy (NCFP) put together this helpful map that can help nonprofits source local COVID-19 funding. So far in Georgia, several foundations have announced COVID-19 recovery funds: 

Check out this map to see which counties each community foundation covers.

PRIVATE SECTOR PROGRAMS

WellCare Health Plans Inc. Community Resource Grant

Supporting organizations in Cobb County, WellCare is identifying those that have creative, innovative, local solutions that address social service barriers impacting vulnerable populations due to COVID-19. Grants will be funded between $500-$1,500 and applications are currently open on their website.

The Small Business Relief Initiative

A partnership between GoFundMe, Intuit and Yelp (and individual small donors!), the initiative will be issuing $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe. To increase their available matching capital, which is at $1.5M at 3pm on 3/27, go to their website. To set up a page for your business, you can sign up on GoFundMe’s website.

MainStreet Mainvest Initiative

Allows businesses affected by coronavirus to qualify for an immediate, interest-free $2,000 loan when they launch a capital raise on the platform. Check it out.

Honeycomb Crowdfunded Small Business Relief Loan

Community-sourced loans for small businesses impacted by the coronavirus. Find more information on their website.

Honeycomb is also providing “Loyalty Bonds,” a unique form of gift cards. Customers buy the bonds, and for every $100 they purchase they receive $130 in gift cards divided into four equal parts over 24 months. That way, customers will frequent your business at least four times in the next 2 years. Check it out.

Facebook Grants for Small Businesses 
Facebook for Business knows that businesses may be experiencing disruptions resulting from the global outbreak of COVID-19. They know that a little financial support can go a long way, so they are offering $100M in cash grants and ad credits to help during business during this challenging time. Click here for additional information. 

Salesforce Care Small Business Grants

To help keep businesses afloat during the ongoing pandemic, Salesforce will be offering small business grants of $10,000 to provide capita from a pool of $5 million. These grants will support small businesses as they work to replenish materials, pay salaries, or adapt their business model to overcome these challenging times. The grant application will be available to US businesses in mid-April. For more information, check out their website.

JPMorgan Chase & Co. Grants and Loans

JPMC has made commitments totaling $50M in grants and $50M in lending, with several pledges to nonprofits (such as Feeding America) and investment theses (such as zero interest loans for Entrepreneurs of Color Fund and Ascend participants) announced. For more information, visit JPMC’s Impact page or contact [email protected].

JustCapital

Many corporations are changing internal policies, such as adjusting hours of operations, sick leave, and customer accommodations. Others are providing funds to community relief funds. To view what Fortune500 companies are doing, check out their website.

The Booz Allen Foundation Innovation Fund

A $1 million Innovation Fund to help nonprofits, entrepreneurs, thought leaders, innovators at colleges and universities, and startups and small businesses harness the power of data, technology, and diverse intellectual capital to improve COVID-19 relief efforts and make a difference, The Booz Allen Foundation wants to surface the most innovative solutions and empower the individuals and organizations behind those solutions to drive their development and implementation. Learn more on their website.

Black Business Relief by We Buy Black and Shea Moisture — Application closed

Leading the effort to help shape the nation’s response to the COVID-19 pandemic, specific to the negative impact on black owned businesses, Black Business Relief is providing business grants to We Buy Black’s top black businesses, which are in jeopardy of going bankrupt or closing. Find more information on their website.

Unsung Businesses by SheaMoisture — Application closed

To kick off the first $100,000 of funding, we want to award small minority businesses that have been stepping up to support their communities during the recent COVID-19 crisis. Find more information on their website.

Independent Contractor Assistance

Google Tips on Working from Home 

The Grow with Google Remote Work hub includes resources and free tools to help your teams works smoothly, and help you stay connected to the communities you serve. Google built a new helpful site for small businesses with additional tips and recommendations to navigate during this time of uncertainty for their employees and customers. You will find information on how to: 

  • Work from anywhere: Best practices for effective communication and collaboration while working remotely and meeting via video conferencing. 
  • Teach from anywhere: Support virtual learning and host workshops from anywhere using collaborative tools. 
  • Learn from anywhere: Share training content through digital resources so that the people in your community can access online courses and curriculum. 

 

Ways Atlanta-based Businesses are Responding to COVID-19 

  • Rimidi: Launching a new app to accelerate patient screenings for COVID-19 
  • ExamMed: Offering its telemedicine platform services for free for 3 months to healthcare providers 
  • Physician 360: Providing on-demand video consults with doctors 
  • Jigsaw Interactive: Giving its intelligent virtual classroom software to schools 
  • Kabbage: Launched an effort to help any small business register to sell e-gift certificates 
  • Valor Ventures: Launching a 3-week virtual pitchfest, which kicks off Friday, March 20 
  • Goodr: Partnered with APS and several corporations to facilitate food donations to those in need
  • PadSplit: Already managing affordable housing to many low-wage frontline workers, raised funds for emergency financial assistance, provided access to Teledoc, and delivered bulk cleaning supplies to tenants
  • Sharecare: Launched a centralized online destination for people to easily access the latest developments and medically verified guidance about COVID-19
  • Partners for Home: Coordinated the use of hotels for housing for individuals experiencing homelessness, among other important initiatives
  • Sock Fancy: Shifted manufacturing from socks to cloth face masks (buy one, donate one!)
  • Topstitch: Owner Leigh Metcalf posted her face mask sewing instructions online for mass use
  • Tikkun Olam Makers: 3-D printing face masks for heath care and frontline workers
  • Atlanta Beats COVID: Coordinated group of ad hoc volunteers stitching and printing PPE (over 5,000 pieces and counting!)
  • Atlanta Face Shields: Start-up group making 3-D printed face masks for health care workers
  • ATLFAMILYMEAL: Activating restaurants to make and deliver meals to laid off hospitality employees
  • BestFit: Curating a list of resources for those needing support (financial or otherwise) through the pandemic
  • Groundfloor: Offering an interest bonus of 4% to investors on their residential real estate platform
  • Health Connect South: Compiled requests for donations and volunteering for hospitals and health care workers across the South
  • Community: Seeking volunteers to sew protective face masks for donation to Piedmont Hospital; also selling face masks (buy one, donate one!)
  • Creature Comforts: Raising funds for their Get Comfortable program to support their agency partners in Athens and Atlanta
  • Old Fourth Ward Distillery: Making hand sanitizer for first responders with the support of Southern Company
  • Hope Springs Distillery: Making hand sanitizer available to order and donating to first responders
  • Moonrise Distillery: Offering FREE hand sanitizer to the public
  • BioIQ: Released a COVID-19 saliva test
  • OXOS: Developed a portable, in-home method to aid in diagnosing, monitoring, and clinical decision making for COVID-19 patients
  • The Dad’s Garage: Joined Twitch to provide some laughter through isolation during their Social Distancing Spectaluar!
  • MailChimp: Providing free domains for 5 years, free services for impacted small business (fill out this form) and grants of $100k each to Goodr, Center for Civic Innovation, Brooklyn Community Foundation, Keep Oakland Housed, and New Story Charity

ATDC compiled a list of how their member companies have shifted gears to deal with the ongoing pandemic. Check out their website.

 

,

Teaching Meets Machine Learning – A “Smart School” Future

By: Ian Cohen, TARA Education Technologies

March 4, 2020

 

“Data in education.” Whether you are an experienced educator or just an average community member, when you hear that phrase, I am willing to bet that only a single thing comes to mind – test scores. Standardized tests, SATs and ACTs, unit tests, end of course tests and so on and so on.

And now that I have listed those few examples out, you are likely thinking about how you either hated those tests, how education is ruined by those tests, or how the rest of the post is going to be about the ills of testing overall, as if no one has argued that ever before. Truth be told, a simple Google search of “testing is bad” produces >1,000,000,000 results in 0.63 seconds – so maybe that topic is a little tired.

But I don’t want to talk about testing. I want to talk about data.

And specifically, how little data is actually gathered and leveraged when it comes to teaching and learning in our current education system.  

When I began my career as a high school teacher, my job was to teach 180 9th grade students World Geography over the course of a semester. The information to be covered is determined by the state department of education and is broken down into, in this instance, 6 standards with various elements for each. And conveniently, the state even goes further to provide teachers with “Teacher Notes” which dive deeper into what needs to be taught. My job as the teacher was to ensure that students “mastered” this material as evidenced by the assessments, or tests, they take throughout and at the conclusion of our semester. These assessments yield are coveted test scores.

But here is the challenge. None of those resources help me – or any other teacher for that matter – figure out how to teach the subject. I can break down content and information as well as the next person, but how do I actually engage students in a learning experience that enables them to develop and maintain an understanding of that information or skill and its significance?  

That is teaching – having a diverse arsenal of strategies (i.e. discussions, simulations, experiments, exercises, etc.) is critical to being an effective educator. And understanding which students will respond to which strategies and having the ability to apply them when needed is what makes a master educator.

So – in addition to a strong grasp of subject content – it would seem that two critical components to teaching must be:

  1. Possessing and implementing a wide variety of engagement strategies effectively.
  2. Understanding your students to the degree at which you can apply a variety of strategies most effectively.

This brings us back to our original problem around data and mistakenly assuming that “test scores” are the only type and form in which data can and should present itself within education.  

For example, one of the greatest shortcomings of test scores is that they are lagging indicators, meaning they only can tell us what already happened, as opposed to leading indicators which can help us predict success. Sure, many places have benchmark assessments and “checks for understanding” throughout a course to check progress and effectiveness – but all of those “checks” are lagging indicators as well.  

But herein lies the opportunity.  

As a local friend and teacher coach recently told me, “you have to plan for data,” meaning that you have to understand what data you want and then ensure that you use the tools and methods that will enable you to capture that data. If we shift the paradigm about what data we want, then we may be able to truly revolutionize education.

What if every teacher had a tool – a kind of virtual assistant – that could do this for them?

And that is where TARA comes in. On the surface, we address a fairly simple problem – improving the lesson planning process that teachers and schools use to ensure alignment, rigor, and accountability. We replace document-based processes with an interconnected platform that assists teachers while they create a lesson by providing them with a bank of engagement strategies, best practices, and resources to choose from. The interface is simple – just click, drag, and drop – and saves teachers anywhere from 30-60 minutes per plan.

But the true innovation of what TARA is – and will become – is centered around the data we are gathering for our teachers and schools. Over time, as we amass more and more leading indicators and incorporate greater levels of research and machine learning, TARA will become every teacher’s best friend. A true smart assistant that can analyze a class roster (i.e. student learning styles, past success, student responses, etc.) and teacher style to suggest the most effective learning experience.  

And this will go well beyond just what strategies to utilize. We will enable schools to entirely reimagine their operations – everything from student groupings and teaching assignments to teacher coaching and professional development to room temperature, lighting, and layouts.

With TARA, we can truly realize the vision of a “smart school.” And not a one-size-fits-all approach like many current school models and platforms. A school shaped by on the ground context and stakeholders that maximizes the potential of our human capital instead of replacing it – while maintaining the highest possible expectations and support for our kids and the future.

 

###

Ian Cohen is the founder and CEO of TARA Education Technologies based in Atlanta, GA. TARA recently completed a school pilot program and is available for free trial at www.taraedtech.com. The company is actively seeking school and organization partnerships for the 2020-21 school year. Please reach out to them at [email protected] for more information.

 

,

Local Colleges and Universities Commit to Carbon Neutrality

By: Sydney Hulebak, WoodLeaf Partners

February 28, 2020

 

From February 23rd to 25th, the Intentional Endowments Network (IEN) hosted its annual Higher Education Climate Leadership Summit in partnership with Second Nature in Atlanta. 

IEN is a peer learning network of colleges, universities, and other mission-driven institutional investors working together to achieve their risk and return objectives through investment actions that create a thriving, sustainable economy. They have nearly 160 network members including endowments, asset managers, investment consultants, nonprofit partners and individuals.  

This broad-based, collaborative network focuses on creating:

  1. Intentionally designed endowments, aligned with institutional mission, that will become the norm in higher education and other tax-exempt organizations, evidenced by growth in policies, practices and actions.
  2. Improved sustainability performance by businesses in response to investor concerns, evidenced by changes in corporate practices and actions.

The Higher Education Climate Leadership Summit is the premier gathering of a select group of higher education leaders committed to driving our nation’s climate action. As the world looks to 2020 to update emissions reductions targets under the Paris Climate Agreement, the Summit stood as an opportunity for the higher education sector to take stock of its own progress and explore ways to scale local climate leadership to meet the global goals by working across institutions and across sectors.

At the 2020 Summit, Georgia institutions shared their successes:

  • Committed to being “the little engine that could” of sustainability, Agnes Scott College, led by the Executive Director of the Center for Sustainability Susan Kidd, has achieved several milestones. They opened the first LEED-certified building in Decatur and implemented single-stream recycling and composting, taking waste diversion rates from 24% in 2008 to 75% in 2012. Agnes Scott is a national pioneer in creating Green Revolving Funds through donor support, and was the only non-profit in Georgia to install a solar array through Georgia Power’s Advanced Solar Initiative.
  • Emory University, led by Director of Sustainability Initiatives Ciannat Howett, is creating a culture of sustainability, and it shows. Since 2005, Emory has reduced its energy use by over 25% per square foot, saving over $25 million. 40% of the food served in Emory Dining locations is sourced locally and/or sustainably. Emory’s Cliff shuttle system transports millions of riders annually using biofuel from recycled cooking oil, and the WaterHub continues to win awards for its water conservation and recycling.

Both schools set goals to become carbon neutral in the next 30 years and both are considering the carbon footprint associated with their growing campuses. With the knowledge that buildings are responsible for 40% of global CO2 emissions, Emory announced that all of their new construction will be carbon neutral by 2025.

As institutions that put people first – their current and future students, alumni, faculty, researchers, staff, neighbors, and partners – colleges and universities in Georgia and beyond are well placed to accelerate a just transition to a carbon-free economy and healthy, sustainable society. The 2020 Higher Education Climate Leadership Summit was able to fuel that acceleration by fostering conversations and networks of climate action.

###

 

,

Revolving Fund Drives Social Impact for Atlanta Communities

By: Stacy Funderburke, Assistant Regional Counsel & Conservation Acquisition Associate, The Conservation Fund

February 26, 2020

In January, Atlanta Mayor Keisha Lance-Bottoms and Department of Parks & Recreation announced a new 12-acre park in one of the most under-parked areas of the city. This large greenspace will create a new park and recreational amenities for neighborhood residents, while protecting a tributary of the Utoy Creek Watershed and conserving almost 10 acres of Atlanta’s tree canopy. A week later the Beltline and Parks Department announced the acquisition of a property that will allow critical expansion of Boulevard Crossing Park on the Beltline, setting the stage for an expansive new vision and design for one of the largest parks along the future Southside Trail.

Believe it or not, these important park acquisitions were made possible by one of the longest standing impact investments in Atlanta – the Metropolitan Atlanta Parks and Greenspace Acquisition Revolving Fund. The Metro Atlanta Revolving Fund was originally created by a $2 million philanthropic gift from the Arthur M. Blank Family Foundation to The Conservation Fund, a national non-profit dedicated to land and water conservation. It operates with a unique model for sustainably financing conservation outcomes – a revolving fund fueled by grants committed to land and water conservation.

In a world where public funding for parks, trails, greenspace often lags the immediate capital needed to acquire priority park lands when available, particularly when real estate is booming, the quickest, nimblest partners with ready capital are the ones who can make these acquisitions happen. The Conservation Fund has a long track record of bridging that capital need, stepping out to acquire those highest priority conservation lands for local, state and federal partners, and holding those lands until public funding comes available.

We have worked with partners for over 15 years, continually revolving that original $2 million investment to turn underused land into parks, greenspace and trail corridors in Atlanta. While the total fair market value of the acquired land was approximately $34 million, we were able to acquire it at a total cost of approximately $30 million, passing along significant savings to our public partners. Through the revolving fund we have been able to add 506 acres of greenspace in 45 parks across the Atlanta, many of which would not have happened without The Conservation Fund’s real estate expertise and ready access to this revolving fund capital. Those acquisitions often leveraged other philanthropic funding for capital improvements or buildout of parks and trails.

Danforth Road Park 2

The impacts of this revolving fund model are not limited to the City of Atlanta. At the state level an $8 million revolving fund we manage has leveraged significant state, federal and philanthropic funding and supported approximately $285 million in conservation acquisitions with a total fair market value over $360 million. Nationally, we have acquired over 8.3 million acres with a fair market value of over $7 billion at a total acquisition cost of approximately $5.2 billion. And these revolving funds can be scaled in a variety of ways. Most recently, we announced our first ever public issuance of a green bond, leveraging impact capital for an additional $150 million in revolving funds for our Working Forest Fund program, which aims to protect 5 million acres of the most critical forest land under threat across the country over the next 15 years.

There are many different definitions of impact investing. But it’s important for us to embrace the variety of investment models that allow us to achieve outsized impacts for our communities, understanding there are myriad ways to make investments go farther for a particular impact. Our Atlanta revolving fund is just one example of how non-profit partners can utilize revolving funds to marry philanthropic investments with public sector priorities to scale outcomes and impact for communities – adding parks, trails and greenspace that improve quality of life for area residents and protect the amazing natural areas we have access to in our city. If you overlooked this model as part of the broader impact investing universe, your next outing in your neighborhood park or stroll along the Atlanta Beltline should help jog your memory!

The Conservation Fund works with public, private and nonprofit partners, to protect America’s legacy of land and water resources through land acquisition, sustainable community and economic development, and leadership training, emphasizing the integration of economic and environmental goals. Top-ranked for efficiency and effectiveness, The Conservation Fund has worked in all 50 states to protect over 8 million acres of land since 1985.

,

Affordable Housing: An Impact Investment, Close to Home

This post originally appeared on Boardwalk Capital Management.

By: Scott Sadler, CFA

February 23, 2020

Investors may not think of affordable housing as an “impact” investment, but without question some opportunities in this sector have measurable environmental and social impacts while also offering the potential for handsome financial returns.

Case in point is a recent acquisition by Jonathan Rose Companies (JRC) in the rapidly-gentrifying Edgewood community of Atlanta, Georgia for their Affordable Housing Preservation Fund V. The fund’s name “preservation” reflects the need to revitalize the existing stock of multifamily housing. It is estimated that the US has a deficit of more than 7 million units of affordable housing. Preserving and expanding what we already have is a good start, but keeping existing housing affordable is not always a developer’s first choice. Preservation of affordable housing is a team effort, with financing provided by portfolio investors and loans from Fannie Mae, the Georgia Department of Community Affairs and tax-exempt bonds issued by Invest Atlanta.

Jonathan Rose is often a preferred buyer of affordable properties given their decades long history of being a responsible operator and a pioneer in urban revitalization. Management of their $18 million renovation and expansion in Edgewood showed particular attention to tenant needs, providing affected tenants with alternate accommodations and even buses to shuttle their children to their existing schools to avoid disruption during the renovation. Despite gentrification that has seen home prices in the area triple over the past five years, 100 percent of units in the development will remain affordable.

JRC proudly reports the environmental impact that they make when acquiring a new neighborhood. Typically, the firm can implement upgrades that cut energy consumption by 20% and water use by a similar amount. And in fact, the company’s acquisition of Edgewood Court (now named Amani Place) has achieved both environmental certification under Enterprise Green Communities, and for health and well being measures, as the first complex in the Southeast certified under Fitwel. The firm’s dedication to making a social impact is well documented. Nearly all of their neighborhoods have areas that are dedicated to community gardens, after school programs, computer labs or medical screening rooms.

From a financial standpoint, environmental upgrades reduce costs, while the social programs often result in a more stable tenant base, reducing the expense of on-boarding new renters. As with almost every real estate investment, investors can expect strong cash flows each year. Affordable housing adds an additional measure of stability, with a large portion of rental income coming from government subsidies. Historically, real estate has appreciated at a pace above the rate of inflation with the potential of higher valuations when properties improve their profitability.

For the impact investor, this unique combination of environmental and social impact, operating stability and attractive projected returns is an attractive mix that is hard to ignore. Contact us for more information on how to incorporate sustainable and impact investments into your retirement plan or investment portfolio.