The Manistee County Community Foundation’s Impact Investing Program is a new tool in our toolbox that can help increase, expand, and broaden our impact across Manistee County.
MCCF’s two initial investments were in Community Development Financial Institutions (CDFIs) which are responsible for deploying the funds through loans to small businesses located within Manistee County. As loans are repaid they may be redeployed, further expanding their impact.
CDFIs are tax-exempt public charities and financial institutions whose primary mission is to increase access to affordable capital by providing financial products and services to underserved communities and people who have typically experienced challenges accessing credit, although they provide services to a wide range of businesses. They are certified by the US Dept. of Treasury and possess knowledge, tools, and experience needed to make investments. By investing in a third party who conducts due diligence and administers the loans to local businesses, MCCF leverages expertise and minimizes its administrative burden and risk.
Learn more about our impact investments below, including our first loan to a local nonprofit, and stay tuned for additional updates as the program continues to unfold. We look forward to sharing stories of how local investments are helping area businesses and enhancing quality of life across our Manistee County community.
