This program-related investment loan will support IFF and its real estate company, IFF Holdings LLC, as it serves as the development company for up to three early childhood centers in Detroit. Kresge’s commitment will support development costs. View Website

This guarantee will collateralize three loans within the City of Detroit’s HUD Section 108 Guarantee Loan Program portfolio. By satisfying HUD’s requirement for securitization of its guaranteed debt, the City of Detroit can reactivate the program as a financing source for affordable housing and neighborhood development projects. Kresge’s support of the Section 108 program helps unlock tens of millions of low-cost, long-term, flexible federal funding that will finance development in low-wealth neighborhoods. View Website

This equity investment supports MoCaFi, a financial services platform with a philosophy of "financial services as infrastructure," to proliferate cost-effective tools for municipalities and enhance direct support and fund deployment to un/under-banked communities. The investment supports the Health Program's Community Health Ecosystems strategy, which focuses on increasing access to local, community-centered health-promoting services, providers, and opportunities. View Website

The Equitable Prosperity Fund's (EPF) mission is to provide growth capital that is more accessible to BIPOC entrepreneurs and less extractive than alternative sources. EPF investments are designed to help these businesses scale, build owner wealth, and pathways to capital. This fund is managed by Capital Impact Partners, under the umbrella of Momentus Capital. View Website

The Chicago Trend Real Estate Fund (TREF) is a close-ended fund established to build wealth for BIPOC communities and community voice via the acquisition of community based, service-oriented shopping centers, retail corridors and new real estate across the United States with particular focus in the Midwest, Mid-Atlantic, and Southeastern regions. View Website

This investment supports TruFund’s Impact Developers Fund (IMD), which was established to support BIPOC and women-owned housing developers across the U.S. who lack access to affordable capital and support from conventional sources. IDF aims to build and support the ecosystem of BIPOC and women-owned housing developers by providing critical balance sheet equity capital and technical assistance. View Website

This subsidiary of Urban Ingenuity will receive a $1.1 million program-related investment loan to bring community solar to environmental justice groups and affordable housing developments. View Website

This guarantee supports long-term debt financing from a traditional banking institution via a 20% credit enhancement. RE-volv will use the loan from a credit provider benefiting from the proposed guarantee as long-term debt which, together with tax equity, will provide the permanent take-out financing for projects developed with Kresge's related PRI capital. View Website

This program-related investment loan will provide predevelopment and construction financing for solar systems primarily for houses of worship, especially those in partnership with the Department of Energy, Green the Church (a membership organization of Black churches focused on power building and promoting sustainable practices), and Interfaith Power & Light. View Website

This guarantee will provide credit enhancement to Capital Fund, a CDFI that specializes in providing financing to community health centers. A loan from Capital Fund will provide Collective Energy with long-term debt, which will help to provide the permanent/take-out financing for projects developed with Kresge's related PRI capital. View Website

This loan aims to enable Collective Energy to finance predevelopment and construction activities for solar+storage projects at community health centers. View Website

This guarantee supports a line of credit to be used to complete construction on the Liberal Arts building, which houses the Marygrove middle and high school classes. It also covers costs to begin construction on the Immaculata building, which will house the elementary program. View Website

This loan will allow Michigan Saves to carry out a project lending directly to homeowners, small businesses and nonprofits located in low- and moderate-income areas of Detroit for energy retrofitting, building electrification and solar panel installation. The loan will allow Michigan Saves to address a critical market gap, as areas of Detroit and other low-to-moderate income areas of the state do not get their fair share of lending capital for this purpose. View Website

This guarantee supports BlocPower’s goals of increasing energy retrofitting and “electrification” (elimination of on-site fossil fuel combustion) in the most disinvested city neighborhoods by supporting its ability to attract significant capital market investment. The guarantee also will support the first “whole-of-city” approach to these issues through BlocPower’s partnership with Ithaca, New York . View Website

A CDFI, Seed Commons specializes in financing worker-owned cooperatives via non-extractive financing. This program-related investment loan will allow them to expand lending capacity. Seed Commons operates akin to a “fund of funds” model wherein it provides capital for mission-aligned loans made by a network of local community organizations. View Website

Edquity addresses the ongoing issue of students dropping out of college due to a financial emergency of less than $500 by offering the only end-to-end emergency aid platform in the market. It provides colleges and universities a way to increase the retention of their most at-need students by improving the efficacy of emergency cash assistance programs. View Website

Invest Detroit Foundation will partner with Kresge to build a new $11 million fund that will focus on providing minority-led development firms with the balance sheet equity needed to build their development firms. The Fund will also provide technical assistance to accelerate a developer’s ability to scale and create greater economic impact in the City of Detroit. View Website

The Memphis Medical District Investment Fund seeks to remedy the appraisal gap in mixed-use commercial real estate in the market by forward-committing permanent financing based on a loan-to-cost ratio paired with a flexible construction loan. The goal is to pull forward what would be15-20 years of development in the district into the next 5-7 years. View Website

This guarantee helped to facilitate the flow of rental assistance to qualifying Detroit households to ensure more Detroiters are able to access the Federal COVID-response funding and stay in their homes. View Website

This guarantee will support, in part, a pooled fund that will provide Detroit CDFIs with liquidity that enables them to initiate new lending. Detroit Small Business Recovery Fund (DSBRF) is a new emergency response loan program designed to support Detroit small businesses and nonprofits as they reopen, stabilize, and grow after COVID-19. The program leverages and combines existing infrastructure, networks, and relationships within Detroit’s CDFI community to build a scalable source of financing for participating partners. View Website