The communities we serve are feeling the deep financial and social impacts of COVID-19. At Reinvestment Fund, we have been reaching out personally to our borrowers and partners and learning about the specific challenges they face. We’ve also heard from our community of investors that they want to help in a meaningful way.
We are financially strong and the diversity of our portfolio is a powerful asset at this time. For example, the grocery stores in our portfolio are seeing increased business, but our arts and culture projects that support the social fabric of communities are deeply affected. Our approach has been to connect and listen as we tailor solutions for every borrower.
Our goal is to alleviate as many of the immediate financial pressures as we can in order to preserve these community assets. We have many tools in our arsenal including deferral and forbearance but most of all, we bring patience and flexibility.
Support our borrowers through our core loan fund
Many of you have reached out asking about ways to help. The following are some ways to support our borrowers through our core loan fund, 100% of which is directed to community projects and will support some of the approaches outlined above:
Existing investors have a few more options. Contact us at firstname.lastname@example.org or 215-574-5819 if you would like to:
Support the business of our borrowers
You can also support the business of our borrowers who are struggling to remain operational. Learn more about how to do so and the response activities they are implementing.
Support the cities we serve
Finally, there are a growing number of emergency relief funds that have been established in our major markets:
Resource: Use PolicyMap to see where cases of COVID-19 are rising the most rapidly in the new COVID-19 section of the tool’s “Health” menu.
News: The Community Reinvestment Act is essential to the work of CDFIs and its impact is substantial. We support the need to suspend the rule making process during the pandemic.
News: The Philadelphia Emergency Fund for Stabilization of Early Education (PEFSEE) is offering grants of up to $20,000 to support immediate relief for early childhood education providers.
Resource: The home-based child care sector is playing a critical role during the COVID-19 crisis. Explore the Home-Based Child Care Emergency Fund toolkit, for action funders can take now to support this essential service.