Over the past 10 years, Capital Impact Partners has invested more than $300 million to foster equitable and inclusive Detroit communities, and we are committed to achieving that vision with the city’s residents. To celebrate our 10th anniversary of working side-by-side with Detroiters, we look back at what worked and the work that remains in a video series with our staff and partners. Watch all the videos in our series here!
A Decade of Change: Capital Impact Partners in Detroit
“Detroit chose us. Detroiters are very proud of their city and it was clear that we had to earn their trust and their respect, and that really required us to be present. We want to be additive to what the community needs, and we need a broad array of tools for the basic needs that every community desires, but also provide opportunities to thrive and prosper and build wealth.”
-Ellis Carr, President and CEO, Capital Impact Partners and CDC Small Business Finance
Watch Ellis’ Reflections
“My hope for Detroit is that more people throughout the city of Detroit have opportunities where they can start a new business, where they have a safe, productive neighborhood, and a house that they call home that they are proud of.”
-Ellis Carr, President and CEO, Capital Impact Partners and CDC Small Business Finance
Watch Ian’s Reflections
“We’ve always had a focus on local ownership, on community ownership, and community control.”
-Ian Wiesner, Director of Business Development at Capital Impact Partners
Watch Melinda’s Reflections
“What’s spectacular about Capital Impact Partners is that they balance risk with reward. They’re able to get deals done, particularly in neighborhoods that need catalytic capital to spur growth.”
-Melinda Clemons, VP & Detroit Market Leader, Enterprise Community Partners, Inc.
Watch Scott’s Reflections
“It takes time to build partnerships and to really know what’s going on on the ground…in the neighborhoods that you’re trying to serve.”
-Scott Sporte, former Chief Lending Officer with Capital Impact Partners
Watch Aaron’s Reflections
“We will see CDFIs continue to innovate from a capital tool perspective. They’re going to be that leading edge of where finance meets community need. That’s what Capital Impact is doing today.”
-Aaron Seybert, Managing Director of the Social Investment Practice, Kresge Foundation
Watch Cliff’s Reflections
“When you have historical instances where you have populations of people who, for a number of reasons, have not been allowed to really build or have not been able to build their balance sheet, you need institutions that are going to say ‘Let me take a look at your deal first, let me look at your character, and then let’s look at your balance sheet. CDFIs do a wonderful job of helping developers get to a space where they can get experience.”
-Cliff Brown, Managing Partner, Woodborn Partners
Watch Elizabeth’s Reflections
“[Equitable Development Initiative] program participants would say building network is the level of relationships that are needed to be successful.”
-Elizabeth Luther, Director of the Detroit Program, Capital Impact Partners
Watch Ed’s Reflections
“The thing about the Diversity in Development Fund is that Capital Impact was willing to work with developers of color that may not meet the typical equity requirements that a typical bank may ask for. I’m not able to go to a bank or knock on my uncle’s door and say ‘can you loan me half a million dollars for this project?’ Capital Impact is willing to say ‘let’s see what you have with regard to the amount of equity you can bring to the table.”
-Ed Carrington, Detroit developer and graduate of Capital Impact Partners’ Equitable Development Initiative
