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A brief summary of Contact Fund's activity as of Feb 2013.
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Two new loans added to our portfolio this fall! Learn more about WHEDCo and Hospital Audiences.
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| Home > About Us > History |
Throughout business school and a career in banking, Contact Fund founder Mark Reed remained intrigued by his earlier experience in community development. He believed community development organizations provided real opportunity for self-sufficiency with their focus on affordable housing, job training and capital for small businesses. A family business liquidity event in 2005 provided the capital to establish a fund dedicated to NYC community development.
Using his capital as equity and borrowing against it from friends and family, Mark employed traditional credit analysis methods to lend to NYC community development organizations. Use of debt requires a financial discipline that can foster a level of organizational sustainability.
Ultimately, Contact Fund is based on a very straightforward concept: private investors would be willing to invest their capital in local NYC neighborhoods while also receiving a financing return if there was a simple, low risk way to do it. Contact Fund is committed to fostering a community of private investors who share similar values.
Click here to find out how to join our investor community.
Since 2005, Contact Fund has raised more than $2,300,000 in additional capital from individual investors. Contact Fund made its first loan to Acción - New York in 2005 and has since made 13 other loans. To date, Acción - New York, Asian Americans for Equality (AAFE) – Community Development Fund, Women's Housing and Economic Development Corporation, Local Initiatives Support Corporation NYC and the Disability Opportunity Fund have repaid their loans in full.
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