Despite the calamitous economic and health impacts of COVID throughout the fiscal year, Capital for Change (C4C) continued to deliver on its mission to provide capital and services that create more equitable and sustainable communities. That mission is more important than ever in the wake of COVID and its racially disparate impacts. C4C responded quickly to COVID’s economic impacts by working closely with the borrowers we serve to help preserve the health of their financial condition by offering online payment deferrals, as needed.

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While our direct lending activity declined due to market conditions, we pivoted quickly and helped develop and administer several urban programs that delivered millions of dollars in emergency grant funding to small businesses, largely BIPOC and women-owned in low- and moderate-income communities, and then assisted the state providing grants to landlords on behalf of renters to help avoid evictions and foreclosures. At the same time, we revisited these roots and rededicated our focus on racial and equity inclusion (RE&I) by holding retreats for board and staff in 2020 to open the conversation. This year we are diving deeper and reviewing all aspects of the company with a RE&I lens and the goal of improving our impact in this critical area.