CNote announces new CDFI partner committed to housing affordability and community resilience, Renaissance Community Loan Fund
Innovative fintech platform inks deal to become new capital source for Mississippi lender committed to economic development.
OAKLAND, Calif., November 6, 2019 – CNote has entered into a partnership with Renaissance Community Loan Fund to serve as a new capital source, supporting their mission to increase homeownership and support small businesses and local economic development in Mississippi. Founded in the wake of Hurricane Katrina’s devastation, Renaissance Community Loan Fund (Renaissance) has had a significant impact since its 2006 founding.
With a strong focus on economic empowerment, wealth building, and homeownership, Renaissance Community Loan Fund is a natural partner in CNote’s mission of closing the wealth gap in America.
CNote leverages technology to enable impact investing at scale, allowing investors of any size to invest in a diverse pool of stellar Community Development Financial Institutions (CDFIs) like Renaissance. CDFIs are community-focused lenders that provide funding for small businesses, affordable housing development, and other projects in communities that often lack adequate access to financial resources. With a growing nationwide network of CDFI partners, CNote is helping to build a more inclusive economy for everyone by offering competitive financial products that drive positive social change and build more economically resilient communities across America.
Yuliya Tarasava, CNote’s Co-Founder, notes “CNote is honored to partner with Renaissance Community Loan Fund. We’ve been impressed by their history of supporting and revitalizing the communities they serve, especially in the face of devastating natural disasters. We strongly believe in their ability to leverage new investment capital to create great economic outcomes in the communities they support across Mississippi.”
Since 2006, Renaissance Community Loan Fund has been dedicated to revitalizing underserved communities throughout Mississippi. Renaissance’s success is driven by their ability to understand the specific needs of the communities they serve, having a highly qualified team to address those needs, and developing a customized and thoughtful approach to program implementation. To date, Renaissance has helped over 2,300 families achieve the dream of homeownership, provided personal financial counseling to over 3,500 clients, and created $88.7 million in economic impact from new homeowners.
Kimberly LaRosa, President & CEO of Renaissance Community Loan Fund, remarked, “Our focus has always been on achieving positive results for our community. That is why we are excited about partnering with an innovative capital source like CNote, who’s capital will allow us the opportunity to drive more results for the Mississippi communities that need it most.”
CNote is an award-winning, first-of-its-kind financial platform that allows anyone to make money investing in causes and communities they care about. With the mission of closing the wealth gap, CNote directs every dollar invested toward funding female- and minority-led small businesses, affordable housing and economic development through its nationwide network of CDFI community lenders.
About Renaissance Community Loan Fund
Renaissance Community Loan Fund was created by The Gulf Coast Business Council in 2006 to help rebuild the community in the aftermath of Hurricane Katrina. Today, Renaissance provides support through financial assistance and development services which help provide safe, quality housing for the residents of Mississippi and providing economic resources for small business owners to add or retain jobs in the community.