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July 16, 2001

Calvert Foundation Invests In Small Business Lenders
By Calvert Foundation

The Calvert Social Investment Foundation made $1.28 million in below-market interest rate loans to seven nonprofit community organizations benefiting impoverished communities domestically and internationally.

SocialFunds.com -- The Calvert Social Investment Foundation made $1.28 million in below-market interest rate loans to seven nonprofit community organizations benefiting impoverished communities domestically and internationally.

Of the $1.28 million lent to community organizations, $500,000 was directed towards Coastal Enterprises, Inc. (ME), Community Loan Fund of SW Pennsylvania (PA) and The Reinvestment Fund (PA), which provide capital and technical assistance to small businesses in both urban and rural communities. By employing comprehensive programs that not only strengthen the financial structure of small businesses but also provide development services to local entrepreneurs these organizations are sparking a chain reaction within the community, promoting local wealth, creating jobs and transforming lives.

“The support of local small businesses is crucial to the development and stabilization of economically distressed areas,” said Shari Berenbach, Executive Director of Calvert Foundation. “The Calvert Foundation and its investors are dedicated to fostering commercially viable solutions that promote self-reliance and sustainable communities.”

© Calvert Foundation

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