The Spectrum Community Investment Loan Fund is committed to providing loans through community development financial institutions (CDFIs) to small businesses whose goods and services help meet core needs in underserved communities within Charter’s 41-state footprint. These long-term investments in financially underserved business communities positively impact the local economy with growth capital, new job creation, and stronger businesses. To date, the Loan Fund has committed more than $29 million in loan capital, capacity grant donations, and in-kind contributions to 15 CDFIs covering 15 states.
The Spectrum Community Investment Loan Fund provides capital to small businesses through intermediary organizations and helps small businesses grow and positively impact the local economies where they operate.
Spectrum has committed to $3.2 million to the Raza Development Fund which plans to support small business loans to Latino-owned local businesses in financially underserved areas in California, Texas, Ohio and Florida.
The Spectrum Community Investment Loan Fund has committed to invest $1 million in CommunityWorks, a South Carolina statewide nonprofit lending institution and community development financial institution (CDFI) which will provide low-interest loans to small businesses.
Charter Communications, Inc., which operates the Spectrum brand, today announced its Spectrum Community Investment Loan Fund will invest $3 million in the Hope Enterprise Corporation (HOPE), a certified community development financial institution (CDFI) .
The Spectrum Community Investment Loan Fund is providing support that will enable the National Urban League’s Urban Empowerment Fund to become a certified community development financial institution (CDFI). This, in turn, will bolster the Fund’s ability to deliver vital capital to minority-owned small businesses in urban communities.
