Through these investments in local small businesses, Charter will positively impact financially underserved communities by providing growth capital, creating jobs and strengthening businesses.
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.
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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.
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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.
- Pursuit Community Finance (New York)$1 million
- PeopleFund (Texas)$1 million
- The Economic and Community Development Institute (Ohio)$1 million
- Wisconsin Women's Business Initiative Corp. (Wisconsin)$1 million
- National Asian American Coalition (California)$1 million
- Justine PETERSEN (Missouri)$1 million
- Carolina Small Business Development Fund (North Carolina)$1 million
- CommunityWorks (South Carolina)$1 million
- Financial Access Federal Credit Union (Florida)$1 million
- HOPE Enterprise Corp. (Kentucky, Alabama, and Tennessee)$3 million
- NUL's Urban Empowerment Fund$3 million
- Carver Bancorp. Inc. - in Partnership with National Action Network (New York)$1.5 million
- TruFund Financial Services - in Partnership with National Action Network (TX, LA, AL, and GA)$1.5 million
- Raza Development Fund (UNIDOS) (Florida, Ohio, Texas and California)$3 Million
Community Loan Fund News
- Press Release
Charter Communications and Hope Credit Union Announce $3 Million Investment to Help Small Businesses Whose Goods and Services Meet Core Needs in Underserved Communities
Read this articleCharter Communications, Inc., which operates the Spectrum brand, today announced its Spectrum Community Investment Loan Fund will invest $3 million in the Hope Enterprise Corporation (HOPE), a certified community development financial institution (CDFI) .
- Press Release
Charter Invests $1 Million in the Carolina Small Business Development Fund to Provide Small Business Loans in Underserved North Carolina Communities
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- Press Release
Charter Invests $10 Million with National Urban League and National Action Network to Assist Black-Owned Small Businesses in Underserved Communities
Read this articleCharter Communications, Inc. today announced the company will invest $10 million in partnership with both the National Urban League (NUL) and National Action Network (NAN) to support Black and other minority-owned small businesses in underserved communities.
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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.
