Investing for community impact.
As a public foundation, Comox Valley Community Foundation exists to advance our mission and vision in the interest of the public good and in support of our donors’ intentions. We are challenging the premise that our investments are only a means to create income to fund granting and operations of the Foundation. Instead we are exploring new ways to invest our capital for local, community impact.
To that end, CVCF recently established a program to provide debt financing to registered charities within the Comox Valley. Investments chosen will provide both a financial return and a social or environmental benefit to our community.
A community loan offers CVCF a mechanism to invest a portion of its assets in a way that can generate a blended value return that can significantly multiply the impact we have on the local community, while at the same time generating a financial return with an acceptable risk profile.
Up to 5% of CVCF’s assets will be made available for impact investing purposes. The community loans will continue to be endowed with interest earned available for granting purposes.
Community loans will be provided by way of loan, interim financing, mortgages or guarantees. Applications for operating lines of credit, loans to individuals, or investments and loans to non-qualified donees will not be considered.
CVCF’s community loan program has been established to:
- Augment investments from traditional financial institutions, or
- Provide investments to organizations with credit capacity, but who are unable to secure financing from a bank or other financial institution.
Each potential application will be considered individually, and CVCF will offer flexible terms and repayment plans at rates proportional to risk. A legal agreement will be prepared and signed by all parties involved in the transaction.
Market rates will normally be sought, but we will also accept some below-market returns on investments with clearly attractive social or environmental benefits with a community focus.