Earlier this week, CCM announced the launch of its new $100 million initiative to invest in COVID-19 relief efforts. Monies raised will look to invest in market-rate bonds financing a variety of community development activities including economic recovery programs, small businesses, and affordable housing. The $100 million initiative is not a new Fund, but rather an opportunity to raise capital to invest in COVID-19 relief and follows in line with other initiatives CCM has launched over its 20-year history for small businesses, rural community development, and disaster recovery relief.
Underserved communities and individuals are likely to be hardest hit so CCM’s mandate to provide needed capital to low- and moderate-income communities and families is more important than ever. The goal is to offer organizations that wish to contribute to the long-term recovery efforts of COVID-19 a way to complement their philanthropic and volunteer efforts through a seasoned fixed income strategy. Investments can be made in a separate account or through CCM’s CRA Qualified Investment Fund (institutional ticker: CRANX).
More details on the initiative, including types and examples of COVID-19 relief investments, can be found here. If you have any questions, please email David Sand, CCM’s chief impact strategist, at firstname.lastname@example.org.