We finance businesses building a better future

We invest to create and preserve safe, stable, and affordable housing for low- and moderate-income families.

Affordable housing is the foundation for the financial stability, health, and well-being of low- and moderate-income individuals and families. We invest in intermediaries, like affordable housing lenders and impact-aligned developers, with track records of successful and responsible lending and development activities in underserved communities. The flexible capital we provide to developers and lenders enables them to create and preserve affordable housing, meeting the housing needs of their communities and providing safe, stable, and affordable homes for families across the US.

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2024 Impact Stats

• 14,709 affordable homes created/preserved
• 114,396 people housed
• 120,130 clients received housing counseling

We finance community development to meet the needs of and strengthen communities.

A thriving, vibrant neighborhood provides its residents with a diverse array of well-maintained and affordable community assets, including housing, schools, community centers, and retail and office space. Investing in community development encourages the revitalization of neighborhoods and uplifts local economies all while meeting the local needs of their residents. For over 27 years, we have been lending to community development financial institutions (CDFIs) that serve these neighborhood organizations and support local businesses and nonprofits, many of which also have an impact on affordable housing, education, and the health of communities.

Today, the creditworthiness of the CDFI industry is well-established, and some CDFIs have successfully gained direct access to the capital markets and have “graduated” out of our portfolio. For example, BlueHub Capital issued a public bond offering in Spring 2020, after we had been lending to them since 1998. Read more about these Success Stories. Over the years, our work to support the industry has also evolved and expanded to include off-balance sheet financing facilities, loan participations, and other strategies to help CDFIs scale their impact beyond their balance sheets.

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2024 Impact Stats

• 29 community facilities financed
• 4.5 million sq. ft. of community facilities financed

We invest in education to enhance the economic and social potential for students in under-resourced communities.

Access to quality and affordable education and childcare is fundamental to the economic potential of individuals and families. Education is a catalyst for financial independence, which furthers community development and improves gender equity. We provide flexible capital to our borrowers, enabling them to work with their clients and establish quality and affordable educational opportunities within their communities.

By investing in organizations and funds that provide opportunities for low-income students to receive quality education, we are supporting their potential to bring economic stability to their families and further the development of their communities.

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2024 Impact Stats

• 5,102 schools, childcare, and other educational facilities financed globally
• 1,595 students enrolled globally

We invest in efforts to conserve the planet’s natural resources to address climate change and its adverse effect on communities.

Pollution, population growth, and the rapid consumption of our world’s natural resources continue to intensify the effects of climate change, which disproportionately affects lower income communities, particularly in developing countries. The sustainable management of natural resources, decreased dependency on fossil fuels, and proliferation of climate adaptation practices will reduce greenhouse gas (GHG) emissions and improve environmental diversity and abundance, while meeting basic human needs and minimizing adverse effects on human health and well-being. We invest in intermediaries, funds, and other financing structures that provide flexible catalytic capital to managers or projects addressing climate change mitigation, climate change adaptation, and sustainable management of resources.

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2024 Impact Stats

• 1.8 million metric tons of CO2 removed or avoided
• 7,447 tons of waste reduced
• 59.2 million acres of land sustainably managed

We invest to increase access to quality, affordable healthcare and to support clean water and sanitation, enabling individuals and families to learn, work, and thrive.

Many countries lack the physical infrastructure necessary for adequate health services and have less than one physician available for every 1,000 individuals. Access to quality and affordable healthcare is essential to the livelihood and well-being of all individuals and families. We invest in intermediaries that operate and finance healthcare facilities, address market gaps in health services for low- and moderate-income communities, and improve water quality and sanitation for communities around the world.

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2024 Impact Stats

• 13,552 individual patients served
• 393,457 people gaining access to improved drinking water

We invest to improve access to finance so more individuals around the world can meet their household and business needs.

An inclusive financial system provides people, particularly in disadvantaged communities, with access to essential financial services and allows individuals to meet their consumer, household, and business needs. Limited access to formal financial services continues to hinder the financial stability of over 3 billion people around the world. Microfinance institutions play a pivotal role in reducing this access gap, helping people meet their everyday financial needs and encouraging economic growth. By investing in microfinance, we help improve the lives of individuals and families regardless of where they live.

While the microfinance market has matured and can often access capital from traditional sources, we believe that there are still ways our capital can increase financial inclusion for people living in poverty through innovations that leverage existing platforms. We invest in microfinance funds and networks that engage in innovation in 1) financial products, 2) services and processes, which can include credit, insurance, payment systems, savings, and 3) financial education.

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2024 Impact Stats

• 60 million active microfinance client individuals
• $2,928 average microloan size disbursed
• 63% clients who are women
• 40% clients live in rural areas

We provide financing to expand renewable energy and energy efficiency solutions around the world, while improving access to energy, air quality, and health.

Access to efficient and affordable clean energy contributes to communities’ and businesses’ ability to grow sustainably. Globally, our strategy primarily focuses on providing reliable access to renewable energy in areas that are not connected to the electric grid, such as through financing solar home system distribution, commercial and industrial solar, and hydropower projects. In the US, our impact expands across sectors, as we often work in tandem with community development and affordable housing partners who help disadvantaged communities gain access to clean energy as well as partners working to make buildings more energy efficient.

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2024 Impact Stats

• 7.8 million metric tons of CO2 reduced
• 89.8 million kWh of clean energy conserved
• 22.5 million individuals with improved energy access

We invest in small business as the engine of inclusive economic growth.

Small and medium-sized enterprises (SMEs) create inclusive economic opportunities, foster quality jobs, and drive community development. In the US, small businesses employ almost 50% of our nation’s workforce and account for over 60% of new jobs created since 1995. Internationally, SMEs in emerging markets create 7 out of every 10 jobs.

However, SMEs continue to face limited access to financial products and services, as they are usually too large to receive microfinance loans and too small for bank loans. This issue has worsened due to large-scale bank consolidation and the decline of community banks, which are a traditional source of small business lending in the US. In emerging markets, SMEs face an unmet financing need of $5.2 trillion every year.

We support intermediaries, such as CDFIs in the US and SME lenders globally, that develop quality products and services to help SMEs meet their financial needs, grow their businesses, and create quality jobs.

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2024 Impact Stats

• 8.8 million small businesses financed globally
• 1.4 million jobs created and/or retained
• 4.8 billion in revenue generated by small businesses

We invest in projects that increase food security and promote economic development through sustainable and climate-smart agricultural practices.

Our efforts to combat climate change and its disproportionate effects on disadvantaged communities extends to the sustainable agriculture sector, as well as our financing of renewable energy and environmental sustainability innovations. Climate change contributes to crop depletion, degradation of land, and clean water limitations, all which pose serious challenges to satisfying agricultural demand and sustaining rural livelihoods of the 70% of the world’s poor who live in rural agricultural areas. Agricultural communities face many challenges on top of climate change, including limited viable financial options and lack of knowledge and training on sustainable and climate-smart agricultural practices. Empowering agricultural communities with these tools can be a powerful way to fight climate change.

Our approach focuses on lending to intermediaries that connect farmers and agricultural businesses with more robust, consistent economic opportunities and training to improve the sustainability of their practices, thereby improving sustainable livelihoods for agricultural producers, strengthening global food supply chain systems, and contributing to greater global food security. We aim to strengthen and grow emerging intermediaries that finance sustainable and climate-smart agricultural practices.

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2024 Impact Stats

• 463,303 smallholder farmers supported
• 59.2 million acres managed sustainably