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 $16 million in loans and expects to have this capital fully deployed in 2021.
~ Tom Rutledge, Chairman and CEO of Charter Communications
Investing in Underserved Communities
The Spectrum Community Investment Loan Fund launched in February 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.
Support for Black and Minority-Owned Small Businesses in Underserved Communities
Charter's $10 million investment with the National Urban League and National Action Network strives to strengthen black and minority-owned small businesses and help foster long-term economic impact.
Helping Small Businesses in Ohio
The Spectrum Community Investment Loan Fund has invested $1 million in the Economic and Community Development Institute (ECDI), a community development financial institution (CDFI) based in Columbus, Ohio, to lend to small businesses within Charter’s Ohio footprint.
Charter Invests $1 Million in the Wisconsin Women’s Business Initiative Corp
The Wisconsin Women’s Business Initiative Corp has received a $1 million investment from the Spectrum Community Investment Loan Fund which it will lend to individuals starting or expanding a small business within Charter’s Wisconsin service area.
