Closing the Gap with Three Main Pillars
Equitable Path Forward Growth Fund
A $350 million Growth Fund that will attract an additional $3.1 billion of debt, equity and grants. This capital provides entity- and project-level capital. Enterprise has seeded this fund with $10 million of our own capital. Our Growth Fund products include:
- Entity-level lending: Through Enterprise Community Loan Fund, our nationally recognized Community Development Financial Institution (CDFI). Includes unsecured lines of credit—among the hardest-to-access capital. Due to wealth disparities, many developers of color lack access to "friends and family" growth capital. That changes with our unsecured lines of credit.
- Entity-level grants: Through Enterprise’s Solutions division, which raises and deploys philanthropic capital. Includes support for organizational growth.
- Project-level equity: Through our Housing Credit, Preservation Equity, New Markets Tax Credit and Opportunity Zones products, among other sources.
- Project-level debt: Through Enterprise’s CDFI, among other sources.
To make this capital go further, Enterprise has created a first-of-its kind Standby Guaranty Facility. This credit enhancement tool creates access to new sources of investments for developers whose balance sheets don't meet traditional investor requirements. It also allows these developers to avoid third-party co-guarantor requirements. That way, we level the playing field for developers of color so they can hold on to more of their profits and growth potential.
Equitable Path Forward Developer Advisory Service
A $15 million program to deliver consulting, networking, business services and evaluation support. This will help BIPOC organizations expand their capacity and invest and leverage capital.
Equitable Path Forward Leadership Program
A $10 million, two-year rotational program for future BIPOC leaders in real estate. This program is modeled after distinguished programs at major industrial and financial firms.
Read our 2021 Annual Impact Report
Read about the foundational success of Equitable Path Forward in our inaugural Annual Impact Report.