Detroit was one of five cities, along with Atlanta, Chicago, Houston and Philadelphia, that was selected to award $10,000 grants to 100 local businesses from the Comcast RISE Investment Fund, for a total of $5 million across 500 businesses. Grant recipients range from Latino Press, which offers publications aimed at serving the Hispanic community, to the tattoo shop Detroit Ink Spot, to a provider of in-home care services, called Covenant Connections Home Care.
Source: Detroit Free Press
Over the past five years, CDFIs developed community investment products based on guidance from retail investors and their financial advisors. Today, financial advisors may explore CDFI products across multiple asset classes for their clients’ consideration. Through cash and cash-equivalent products, fixed income products, and equity products, financial advisors can offer a plethora of investment opportunities for their clients who have interest in community investing, social justice, and environmental justice.
Source: Wealth Management
Highlighting FNB’s commitment is a $5 million investment in the launch of its new, proprietary Hill District Gap Lending Program, which is designed to address financing gaps for real estate projects in the community. FNB will provide loans of up to $400,000 and flexible lending parameters for local businesses that require additional funding to complete a capital structure so they can move forward with developing or redeveloping community assets.
Source: Yahoo Finance