CNote , a women-led neighborhood financial investment platform with an objective of closing the wealth space, today commemorates its 5th year in operation. CNote partners with Community Development Financial Institutions (CDFIs) and mission-driven deposit organizations, which are high-impact regional loan providers committed to providing funds to underserved neighborhoods. Dollars transferred and invested on the CNote platform are released with these frontline lending institutions to money females- and BIPOC-owned small companies, cost effective real estate advancement, and even more racial justice and financial advancement throughout the United States.
Investments on CNote’s platform have actually developed or preserved over 4,000 tasks. In the previous 12 months, over 40% of recently released capital has actually gone to women-led companies and over 50% to BIPOC customers. CNote brochures the on-the-ground effect of its neighborhood financial investments with routine quantitative effect reporting and by profiling the small companies, individuals, and companies that are favorably affected.
CNote’s long-lasting dedication to racial and gender equity investing made it the Best Women-Owned Business Award from the U.N. Women’s Empowerment Principles and the company has actually been acknowledged on the ImpactAssets 50 list showcasing leading effect fund supervisors for 2 successive years. CNote is a Certified B Corporation, which suggests it satisfies strenuous social, ecological, governance, and neighborhood efficiency requirements.
In 2016, CNote introduced The Flagship Fund , the very first 100% CDFI-focused financial investment car offered to all financiers without any minimum. Ever since, CNote has actually presented 2 brand-new items: The Wisdom Fund , a financial investment lorry for certified financiers created to increase capital gain access to and loaning for ladies of color; and the Promise Account , a federally insured money management service that provides corporations and institutional financiers a streamlined method to provide on DEI dedications by transferring money for competitive returns and favorable social effect.
After releasing with a retail item, CNote has actually transferred to serve structures and other institutional financiers and, most just recently, to assist corporations set in motion money deposits and financial investments to enhance their efficiency on ESG procedures. In October of 2020, Mastercard broadened its relationship with CNote by dedicating $ 20 million to the Promise Account to money underserved neighborhoods and assist ladies- and BIPOC-owned companies.
CNote CEO Catherine Berman stated, “I’m happy of the group for what we’ve achieved over these last 5 years however, provided how tough 2020 was for low-income individuals and neighborhoods of color, our objective of closing the wealth space is more immediate than ever.”
Berman included, “We’re most happy to state we’re lined up with CDFIs, which have actually functioned as financial very first responders throughout the pandemic. They are important to getting financier capital authentically lined up behind neighborhood advancement that results in long lasting modification. We anticipate supporting the CDFI market and underserved neighborhoods for several years to come.”
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