Our borrowers create positive impact for people and the planet

The borrowers in Calvert Impact Capital’s portfolio work to strengthen communities, increase access to capital, and develop solutions to climate change across 100+ countries and nine sectors. Our "Borrower Spotlight" series is intended to highlight the critical work of our partners and enable investors to get a closer look at some of the 100+ organizations in our portfolio.

Learn more about them in the Borrower Spotlights below, as well as on our Portfolio List.

Blog Get to know our portfolio partners: Volunteers of America National Services

Get to know our portfolio partners: Volunteers of America National Services

Volunteers of America National Services (VOANS) is a faith-based nonprofit organization that provides services to disadvantaged communities, including housing assistance, healthcare, and housing.

12/11/2025
Blog Get to know our portfolio partners: Affordable Homes & Communities

Get to know our portfolio partners: Affordable Homes & Communities

Affordable Homes & Communities (AHC) is a nonprofit developer that creates and preserves affordable and mixed-income housing in Maryland, Virginia, and Washington, D.C.

12/03/2025
Blog Get to know our portfolio partners: Advance Global Capital

Get to know our portfolio partners: Advance Global Capital

Advance Global Capital, Ltd (AGC) provides financing to small and medium enterprises (SMEs) to reduce poverty through sustained inclusive economic growth.

11/20/2025
Reports Our 2025 Community Investment Note® Impact Report, “Resilient Communities, Lasting Impact”

Our 2025 Community Investment Note® Impact Report, “Resilient Communities, Lasting Impact”

The 2025 Community Investment Note® impact report, “Resilient Communities, Lasting Impact”, explores how resilience is essential to building a more inclusive and sustainable financial system.

11/03/2025
Blog Get to know our portfolio partners: Greenline Ventures

Get to know our portfolio partners: Greenline Ventures

Greenline Ventures is a financial services company that specializes in providing capital to underserved businesses.

09/30/2025
Reports Q2 2025 Report

Q2 2025 Report

Download the Q2 2025 Community Investment Note® Report.

08/15/2025 | By Justin Conway
Success Stories Success Story: Forest Resilience Bond

Success Story: Forest Resilience Bond

The Yuba I FRB protected 15,000 acres of forestland, helped restore 2,675 acres of ecosystems and 27,601 acre-feet of source water supply, sustained 72 jobs, and returned all investor capital.

04/01/2025 | By Annette Vogel
Blog Borrower Spotlight: LIIF and the Importance of Keeping Homes Affordable

Borrower Spotlight: LIIF and the Importance of Keeping Homes Affordable

Calvert Impact and the Low Income Investment Fund (LIIF) have worked together for over 20 years. Most recently, we’ve continued to support LIIF through the Keeping Homes Affordable facility.

04/23/2024 | By Annette Vogel
Blog Borrower Spotlight: Clean energy lending and technical assistance supported by Partner Community Capital

Borrower Spotlight: Clean energy lending and technical assistance supported by Partner Community Capital

Calvert Impact and Partner Community Capital (PCAP) have a longstanding relationship that spans over two decades. After making our first loan to PCAP in 2007 – only $25,000 – we have seen them grow

12/13/2023 | By Annette Vogel
Success Stories Success Story: Eureka Recycling

Success Story: Eureka Recycling

In 2016, Calvert Impact provided financing to Eureka Recycling, a zero-waste nonprofit based in Minneapolis, Minnesota dedicated to demonstrating that waste is preventable – not inevitable.

09/20/2023 | By Caitlin Rosser
Blog Borrower Spotlight: Small Businesses Supported by Advance Global Capital

Borrower Spotlight: Small Businesses Supported by Advance Global Capital

AGC’s investments deliver tailored financing to local partners, who in turn provide flexible working capital to small and medium enterprises, so they can scale and positively impact local economies.

07/21/2023 | By Annette Vogel
Blog The Impact of Investing in Puerto Rico

The Impact of Investing in Puerto Rico

Calvert Impact staff visit two portfolio partners in Puerto Rico to learn about impact on the ground

03/28/2023 | By Caitlin Rosser
Blog Borrower Spotlight: Sustainable Companies Supported by eco.business Fund

Borrower Spotlight: Sustainable Companies Supported by eco.business Fund

The eco.business Fund supports biodiversity conservation, sustainable use of natural resources, and climate change mitigation and adaptation in Latin America, the Caribbean, and sub-Saharan Africa.

01/11/2023 | By Annette Vogel
Success Stories Success Story: Community Housing Capital

Success Story: Community Housing Capital

Community Housing Capital (CHC) is a Community Development Financial Institution (CDFI) with a mission to finance the creation and preservation of affordable housing across the United States.

11/30/2022 | By Caitlin Rosser
Success Stories Success Story: New Hampshire Community Loan Fund

Success Story: New Hampshire Community Loan Fund

In 1997, in our second year of lending operations, Calvert Impact made a $150,000 loan to New Hampshire Community Loan Fund, a community lender that transforms New Hampshire communities.

10/26/2022 | By Caitlin Rosser
Blog What does Community-Based Solar Look Like?

What does Community-Based Solar Look Like?

How does the clean power, financial savings, and job creation provided by solar energy benefit our under-served communities? Impact Analyst Annette Vogel visits our partner Sunwealth to find out.

10/25/2022 | By Annette Vogel
Blog Site Visit: Forest Resilience Bond

Site Visit: Forest Resilience Bond

Investment Analyst Helen Zhang visits Yuba and Sierra Counties in California and meets with the team behind the project in the heart of the forest where our capital is hard at work.

09/30/2022 | By Helen Zhang
Success Stories Success Story: Remington Row

Success Story: Remington Row

Impact investors were critical to Seawall’s growth, helping them build their track record, and create positive outcomes for the Remington Row community in Baltimore, MD.

06/21/2022 | By Caitlin Rosser
Success Stories Success Story: DC Water

Success Story: DC Water

In September 2016, the District of Columbia’s water municipality – DC Water – issued the nation’s first Environmental Impact Bond (EIB).

04/22/2022 | By Caitlin Rosser
Blog Borrower Spotlight: PACE Equity funds greener commercial buildings in the US

Borrower Spotlight: PACE Equity funds greener commercial buildings in the US

Our borrower, PACE Equity, is the market leader in C-PACE financing, a program designed to encourage developers to make their buildings greener by providing a source of inexpensive private capital.

04/11/2022 | By Lucas Pappas
Blog Capital Can Create Meaningful Change: Our summer internship experience

Capital Can Create Meaningful Change: Our summer internship experience

As their internships end, our summer interns discuss their work at Calvert Impact Capital and their impressions of the broader impact investing industry through the lens of their main projects.

11/30/2021 | By Mary Hayford & Angelie Miranda
In the News Getting Money off the Sidelines: A Starting List to Invest for Racial Equity

Getting Money off the Sidelines: A Starting List to Invest for Racial Equity

As more investors seek to direct capital toward racial equity, here’s a starter list to help.

11/08/2021
In the News Lendable to Launch $100 million Emerging Market Fintech Fund with Leading Impact and DFI Investors (PRNewsfoto/Lendable)

Lendable to Launch $100 million Emerging Market Fintech Fund with Leading Impact and DFI Investors (PRNewsfoto/Lendable)

Lendable Inc., a leading emerging market fintech credit provider, is targeting a ground-breaking $100 million closed-ended fund focused on emerging and frontier market fintech investments.

10/12/2021
Blog Borrower Spotlight: eco.business Fund and sustainable shrimp farming in Ecuador

Borrower Spotlight: eco.business Fund and sustainable shrimp farming in Ecuador

Our borrower, the eco.business Fund, is leading the way in helping Ecuadorian shrimp producers implement practices that protect the environment

09/07/2021 | By Christian Choconta
Success Stories Success Story: Equal Exchange

Success Story: Equal Exchange

In 2003, Calvert Impact Capital made its first loan of $200,000 to Equal Exchange, a pioneering Fair Trade cooperative that partners with small-farmer coops and institutions in over 20 countries.

08/31/2021 | By Caitlin Rosser
Success Stories Success Story: Oikocredit

Success Story: Oikocredit

Calvert Impact Capital made our first loan to Oikocredit, a social impact investor and worldwide cooperative, in 1999.

07/15/2021 | By Caitlin Rosser
Blog Borrower Spotlight: Community Reinvestment Fund (CRF)

Borrower Spotlight: Community Reinvestment Fund (CRF)

When the PPP loan was announced by Congress, many businesses found themselves shut out of the process due to a lack of information and access to the program through traditional financial institutions

07/06/2021 | By Caitlin Rosser
Videos Forest Resilience Bond Webinar

Forest Resilience Bond Webinar

EPA hosted two webinars on April 29, 2021 and May 6, 2021 to discuss the recently published technical report on the first Forest Resilience Bond

06/14/2021
In the News Calvert Impact Capital Invests $2.9 Million in Sunwealth

Calvert Impact Capital Invests $2.9 Million in Sunwealth

Clean energy investment firm Sunwealth today announced a $2.9 million loan from Calvert Impact Capital to support Sunwealth’s solar access work.

05/18/2021
Blog Borrower Spotlight: Azure Source Capital

Borrower Spotlight: Azure Source Capital

Azure Source Capital (ASC) mobilizes capital and technical expertise to upgrade and expand water services for under-served urban and peri-urban communities of El Salvador.

05/04/2021 | By Leigh Pomerantz
Success Stories Success Story: MCE Social Capital

Success Story: MCE Social Capital

In 2006, Calvert Impact Capital made its first loan to MCE Social Capital (MCE), that works to generate economic opportunities for women and families in underserved communities across the globe.

04/06/2021 | By Caitlin Rosser
Success Stories Success Story: BlueHub Capital

Success Story: BlueHub Capital

In August 1998, Calvert Impact Capital made a $25,000 loan to the BlueHub Loan Fund (then “Boston Community Loan Fund”), managed by BlueHub Capital.

04/06/2021 | By Caitlin Rosser
Success Stories Success Story: MyStrongHome

Success Story: MyStrongHome

In December 2016, Calvert Impact Capital made a loan to MyStrongHome, an innovative new social enterprise working to fortify coastal communities against climate change impacts.

04/06/2021 | By Caitlin Rosser
Blog Borrower Spotlight: Medical Credit Fund

Borrower Spotlight: Medical Credit Fund

Our borrower, The Medical Credit Fund (MCF), is a non-profit health investment fund that supports private healthcare clinics and businesses in Africa.

02/08/2021 | By Leigh Pomerantz
Blog Calvert Impact Capital expands relationship with eco.business Fund to increase financing for biodiversity conservation

Calvert Impact Capital expands relationship with eco.business Fund to increase financing for biodiversity conservation

Calvert Impact Capital is excited to announce a further commitment to the eco.business Fund

10/26/2020
Blog The Forest Resilience Bond: An Innovative Financial Tool Used to Fight Fires in California

The Forest Resilience Bond: An Innovative Financial Tool Used to Fight Fires in California

In the face of climate change, catastrophic wildfires increasingly blaze across the country, threatening forests, communities, and livelihoods

09/02/2020 | By Leigh Pomerantz
Blog Borrower Spotlight: MCE Social Capital

Borrower Spotlight: MCE Social Capital

Our borrower, MCE Social Capital (MCE), is a nonprofit impact investing firm that aims to generate economic opportunities for women and families living in poverty in the developing world

08/31/2020 | By Leigh Pomerantz
Blog Borrower Spotlight: ECLOF International

Borrower Spotlight: ECLOF International

Our borrower, ECLOF International, is a faith-based organization founded in 1946 with a mission is to promote social justice and human dignity through microfinance

03/13/2020 | By Leigh Pomerantz
Blog Borrower Spotlight: Wildflower Schools

Borrower Spotlight: Wildflower Schools

Wildflower is an ecosystem of decentralized Montessori micro-schools which are teacher-led and offer child-centered learning environments to support children and families from diverse backgrounds

02/25/2020 | By Leigh Pomerantz
Blog Lending Partner Spotlight: Low-Income Investment Fund (LIIF)

Lending Partner Spotlight: Low-Income Investment Fund (LIIF)

In participation with lead lender and CDFI funding partner, Calvert Impact Capital provided financing that enabled Affirmed Housing Group to purchase a Motel-6 and redevelop it into “Zephyr”

01/31/2020 | By Leigh Pomerantz
Blog Borrower Spotlight: Grameen America

Borrower Spotlight: Grameen America

Grameen America is a nonprofit microfinance organization dedicated to helping women who live in poverty build small businesses to create better lives for their families

01/17/2020 | By Leigh Pomerantz
Blog Supporting Affordable Housing Across the US

Supporting Affordable Housing Across the US

This week we announced our investment providing capital for the second phase of the $100 million Fund to Preserve Affordable Communities (FPAC)

12/05/2019
Videos There’s a new way for investors to turn a profit while helping California prevent fires

There’s a new way for investors to turn a profit while helping California prevent fires

Rising Risks — Forest resilience bond

10/31/2019
Blog Affordable, Renewable Energy in Washington, D.C.

Affordable, Renewable Energy in Washington, D.C.

We are excited to expand our renewable energy portfolio through a new loan facility to Vermont Energy Investment Corporation and its District of Columbia Sustainable Energy Utility program

09/06/2019
Blog Microfinance Taps Mainstream Market Solutions

Microfinance Taps Mainstream Market Solutions

Calvert Impact Capital is excited to grow our portfolio with a new investment to promote financial inclusion in emerging markets around the world

08/07/2019 | By Daniel Ford
Blog Renewing Our Commitment to Affordable Housing in South Texas

Renewing Our Commitment to Affordable Housing in South Texas

We recently renewed our $2 million loan to Affordable Homes of South Texas, Inc. (AHSTI), the largest developer and lender of deeply affordable single-family homes in the Rio Grande Valley

07/08/2019 | By Jacqueline Westley
Blog Perspectives from the Field: Mexico

Perspectives from the Field: Mexico

Calvert Impact Capital invests to help financial intermediaries better serve small and medium enterprises (SMEs), the engines of local economic growth and job creation across the globe

05/29/2019 | By Caitlin Rosser
Blog Chicanos Por La Causa - Empowering Communities Across The Southwest

Chicanos Por La Causa - Empowering Communities Across The Southwest

We recently closed a loan to Chicanos Por La Causa (CPLC), a community development corporation that serves individuals and families with low to moderate income in the southwestern U.S.

03/13/2019 | By Nicholas Silbergeld
Blog A New Investment In The Solar Energy Transformation (SET) Fund

A New Investment In The Solar Energy Transformation (SET) Fund

Calvert Impact Capital recently invested $7.5mm in the Solar Energy Transformation (SET) Fund

03/05/2019 | By Adrika Lazarus
Blog 2018 in Review

2018 in Review

Against a backdrop of global and political turmoil, we saw an industry of doers organize more urgently around the common call for greater transparency and accountability in our global financial

12/21/2018 | By Leigh Moran
Blog Forest Resilience Bond: a new mechanism for fighting fire with finance

Forest Resilience Bond: a new mechanism for fighting fire with finance

In this short video I'll cover Calvert Impact Capital's recent investment in the Forest Resilience Bond, which aims to reduce the risk of severe wildfires in the Tahoe National Forest

11/30/2018 | By Jacqueline Westley
Videos Fighting fire with finance: Calvert Impact Capital's investment in the Forest Resilience Bond

Fighting fire with finance: Calvert Impact Capital's investment in the Forest Resilience Bond

Calvert Impact Capital Sr. Investment Officer Jacqueline Westley discusses our investment in the Forest Resilience Bond, which aims to reduce the risk of severe wildfires in the Tahoe National Forest.

11/29/2018
Videos Calvert Impact Capital loan to ECLOF International

Calvert Impact Capital loan to ECLOF International

Calvert Impact Capital loan to ECLOF International

10/18/2018
Blog New loan to ECLOF International

New loan to ECLOF International

We recently closed a $2 million loan to ECLOF International, a faith-based organization that primarily provides loans and technical assistance to partner microfinance institutions (MFIs)

10/17/2018 | By Songbae Lee
Blog Energy Access at Home and Abroad: Bringing Clean Energy to New Global Communities

Energy Access at Home and Abroad: Bringing Clean Energy to New Global Communities

For Climate Week, Investment Analsyst Caroline Chinhuru shares her insights on renewable energy around the world.

09/24/2018 | By Caroline Chinhuru
Blog The Power of Community Engagement in Affordable Housing: Takeaways from the #ImpactTourRaleigh

The Power of Community Engagement in Affordable Housing: Takeaways from the #ImpactTourRaleigh

Last Tuesday my colleague Katherine and I traveled to Raleigh, NC for an affordable housing impact tour

07/30/2018 | By Caitlin Rosser
Blog Expanding lending in the Middle East

Expanding lending in the Middle East

We recently announced a new $5 million loan Global Communities and Vitas Group to expand microfinance and affordable housing in Gaza and the West Bank

05/01/2018 | By Songbae Lee
Blog Increasing access to financial services in developing countries

Increasing access to financial services in developing countries

We are partnering with BlueOrchard, a leading global impact investment manager dedicated to fostering inclusive and climate-smart growth

04/17/2018 | By Songbae Lee
Blog Making Manufactured Housing More Secure and Affordable

Making Manufactured Housing More Secure and Affordable

There are 2.7 million owners of detached single-family homes that do not own or control the land beneath their homes

01/03/2018
Blog Promoting Sustainable Business Practices

Promoting Sustainable Business Practices

Earlier this year, we closed a $5 million investment in the eco.business Fund

11/16/2017
Blog Breaking Ground with DC Water

Breaking Ground with DC Water

We are thrilled to be invested in the first U.S. environmental impact bond (EIB), which was issued by DC Water, the District of Columbia’s water and sewer authority

11/14/2017
Blog Supporting Carbon Offset Efforts

Supporting Carbon Offset Efforts

Calvert Impact Capital has closed a new $1 million investment in Forest Carbon Partners, L.P.

11/06/2017 | By Catherine Godschalk
Blog Increasing Affordable Housing Across America

Increasing Affordable Housing Across America

In June we made a $5 million investment in the Jonathan Rose Companies’ latest affordable housing preservation fund

07/09/2017
Blog Sustainable Mobility in South Africa

Sustainable Mobility in South Africa

We recently closed a new $5 million investment with SA Taxi, a credit provider that offers financial products and services for entrepreneurs in the minibus taxi business in South Africa

07/06/2017 | By Najada Kumbuli
Blog Innovation in Agriculture and Renewable Energy

Innovation in Agriculture and Renewable Energy

Calvert Foundation is excited to announce the recent closure of a $9 million investment that will finance the construction of an anaerobic biodigester facility in the western region of the U.S.

07/04/2017
Blog Promoting Renewable Energy in Central America

Promoting Renewable Energy in Central America

We are pleased to announce a $5 million investment in the Honduras Renewable Energy Financing Facility (H-REFF)

07/02/2017 | By Najada Kumbuli
Blog Benefit Chicago Announces Its First Loans

Benefit Chicago Announces Its First Loans

Benefit Chicago is a collaboration between MacArthur Foundation, Chicago Community Trust, and Calvert Foundation to mobilize $100 million for impact investments and social enterprises

05/16/2017
Blog Increasing Low-Income Access to Clean Energy

Increasing Low-Income Access to Clean Energy

We are pleased to announce that we recently closed a new $3 million loan to PosiGen

04/21/2017
Blog Affordable Housing on the Gulf Coast

Affordable Housing on the Gulf Coast

Calvert Foundation is pleased to announce our closure of a loan to Gulf Coast Housing Partnership (GCHP) that will finance the construction of affordable housing throughout the Gulf Coast region

02/10/2017
Blog Supporting Artists Through Affordable Housing

Supporting Artists Through Affordable Housing

Calvert Foundation is pleased to announce the closure of a loan to Artspace, a national leader in developing artist-focused, non-profit affordable housing in the U.S.

12/21/2016
Blog Recycling for People and Planet

Recycling for People and Planet

Calvert Foundation's commitment to impact extends beyond the social - we also seek to make loans that positively impact our environment

12/15/2016
Blog Leveraging Microfinance for Agricultural Lending

Leveraging Microfinance for Agricultural Lending

Calvert Foundation has approved a new $4 million loan to MCE Social Capital (MCE)

11/14/2016 | By Songbae Lee
Blog Financing Affordable Housing for Veterans

Financing Affordable Housing for Veterans

Affirmed Housing Group is acquiring an existing 102-room motel to be converted into an 85-unit supportive housing complex for formerly homeless veterans

11/08/2016
Blog Celebrating Indian Independence and Economic Growth

Celebrating Indian Independence and Economic Growth

Over the last 18 months, the Calvert Foundation’s India Investment Initiative has given Indian Americans and anyone who loves India another option to celebrate India

08/12/2016
Blog Trekking Around India to Track Our Impact

Trekking Around India to Track Our Impact

We recently returned from a trip to India, where we had the privilege of visiting some of Calvert Foundation’s current and past borrowers

06/10/2016
Blog Increasing Access to Healthy Foods in West Philly

Increasing Access to Healthy Foods in West Philly

Through our Age Strong initiative in partnership with AARP Foundation, Capital Impact Partners recently completed a $3.6 million loan to Brown's Parkside

02/01/2016
Blog Global Health Strategy in Action: A new loan to expand the Medical Credit Fund

Global Health Strategy in Action: A new loan to expand the Medical Credit Fund

Today, Calvert Foundation completed a $3.4 million loan to grow our relationship with the Medical Credit Fund, an innovative financing vehicle initiated by the PharmAccess Foundation

12/15/2015
Blog Meet our partner: Envirofit

Meet our partner: Envirofit

Meet Calvert Foundation partner Envirofit – a producer and distributor of clean cook stoves and solar lighting products for impoverished communities in developing countries

03/07/2013

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Phone: 800-248-0337
Fax: 301-576-8444
info@calvertimpact.org
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Calvert Impact Capital, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Community Investment Note. Calvert Impact Climate, Inc., a 501(c)(3) nonprofit and a subsidiary of Calvert Impact, Inc., offers the Cut Carbon Note. The Community Investment Note and Cut Carbon Note are subject to certain risks, are not mutual funds, are not FDIC or SIPC insured, and should not be confused with any Calvert Research and Management-sponsored investment product. The Community Investment Notes and the Cut Carbon Notes are debt securities subject to the terms, conditions and risks described in the current prospectus, prospectus supplement(s) and pricing supplements, as applicable, including risk of possible loss of the amount invested. Payment is dependent on the issuer’s financial condition at the time payment is due. Any decision to invest in these securities through this Site should only be made after reading the applicable prospectus, prospectus supplement(s) and pricing supplement or by calling 800-248-0337.

This is not an offer to sell you our securities and we are not soliciting you to buy our securities. The offering is made solely by the Prospectus. We will offer and sell our securities only in states where authorized.

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