One Borrower Scored Our Partnership 10/10 🙌

August 2021 recap

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“Working with Mission Driven Finance feels like it’s more of a partnership than a typical lender-borrower relationship. It goes beyond the money. If I had to score how this relationship went, I would score it 10/10.”

—Darren Solomon, co-founder & CEO, Kid Ventures

“It was a dream come true to get a loan with Mission Driven Finance. Getting the funding felt like a feather in our cap because it validated our mission—the special sauce that adds meaning to what we do. It made it that much more real.”

—Kristopher Schlesser, founder, LuckyBolt

Our team was glowing after hearing these words in our interviews with graduating portfolio companies this month. Kid Ventures, LuckyBolt, and Cygenex (formerly Gene Tox Lab Solutions), all successfully repaid their loans ahead of schedule!

This is what we love to see: With our capital and technical assistance, companies in our portfolio grow and do so well that they can qualify for loans with banks and other lending institutions that can offer lower rates because they lend to “less risky” borrowers. (Don’t get us started on perceptions of risk.)

That’s why we have a policy of not charging prepayment penalties. We want portfolio companies to pay off their investments early if that means they’re in a stronger position to support their workers and community. It also means, in the words of our Chief Investment Officer Louie Nguyen, we can increase the velocity of capital in the community—reinvesting principal into another inspiring small business or nonprofit.

The companies in our portfolio should be in a stronger position after our investments. That’s the spirit of our mission closing capital gaps in order to close opportunity gaps.

Speaking of doing our part to close opportunity gaps, we have finalized the next cohort of the Community Finance Fellowship and can’t wait to introduce you to the fellows next month! More to come.

Stay well and take care of each other,

Lauren Grattan
Co-founder & Chief Community Officer

Check our jobs page and follow us on social media for the latest openings.

Share these opportunities with those you know who want to use finance as a tool for change:

WEPOWER St. Louis Elevate/Elevar Capital

We are excited to share WEPOWER St. Louis has launched its $1.5 million fund to invest in Black and Latinx entrepreneurs in North St. Louis. Mission Driven Finance is a founding partner of Elevate/Elevar Capital and will continue to support with fund administration.

See press coverage on this place-based fund here and here.

In photo (L–R): WEPOWER’s Keisha Mabry Haymore, director of entrepreneurship; Charli Cooksey, founder and CEO; and Yoni Blumberg, vice president of community wealth build. Photo credit: Nyara Williams. Location: Apiary @ the Park in Hyde Park, founded by Fatimah Muhammad, a member of the WEPOWER community.

Financing for many kinds of small businesses & nonprofits

Mission Driven Finance supports funds across the U.S. that increase access to education, health, and wealth. The programs below currently have capital available for businesses and nonprofits. With different investor interests, each program has a unique profile.

See if one might fit your needs:

MEET OUR PORTFOLIO COMPANIES

MDF in the headlines:

Expanded Affordable Housing Project Planned [San Diego Business Journal]
St. Louis nonprofit WEPOWER launches $1.5M fund to back Black, Latino entrepreneurs [St. Louis Business Journal]
WEPOWER fund will back diverse founders to build community wealth in St. Louis [ImpactAlpha]
The Pandemic Is In A New Phase But Child Care Centers Still Struggling [KPBS]
How entrepreneurs and investors are reshaping the ‘care’ economy [San Diego Union-Tribune]
SD Mayor Gloria brings diverse voices to city boards, commissions [Del Mar Times]
Jewish Family Service names Shreya Sasaki new senior director of family and community services [Del Mar Times]

SEE PORTFOLIO UPDATES & WHAT ELSE WE'RE READING 📖

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