Spectrum Community Investment Loan Fund
The Spectrum Community Investment Loan Fund is committed to providing loans through community development financial institutions (CDFIs) to small businesses whose goods and services help meet core needs in underserved communities within Charter’s 41-state footprint. These long-term investments in financially underserved business communities positively impact the local economy with growth capital, new job creation, and stronger businesses. To date, the Loan Fund has committed $21 million in loans and expects to have this capital fully deployed in 2022.
~ Tom Rutledge, Chairman and CEO of Charter Communications
Charter Invests $1 Million in CommunityWorks to Provide Small Business Loans in Underserved South Carolina Communities
The Spectrum Community Investment Loan Fund has committed to invest $1 million in CommunityWorks, a South Carolina statewide nonprofit lending institution and community development financial institution (CDFI) which will provide low-interest loans to small businesses.
Charter Designated Founding Partner of the Urban Empowerment Fund by the National Urban League
The Spectrum Community Investment Loan Fund is providing support that will enable the National Urban League’s Urban Empowerment Fund to become a certified community development financial institution (CDFI). This, in turn, will bolster the Fund’s ability to deliver vital capital to minority-owned small businesses in urban communities.
Community Loan Fund News
Investing in Underserved Communities
The Spectrum Community Investment Loan Fund launched in February 2020 with an initial commitment of $10 million which will be distributed to small businesses that provide goods and services that help improve the quality of life in underserved communities. Pursuit in New York and PeopleFund in Texas are the first CDFIs to receive investments of $1 million each.
