News

Reinvestment Fund recently closed on a loan to First Step Staffing, Inc., the nation’s largest nonprofit social enterprise staffing company. The $3 million loan is led by Reinvestment Fund, with participations from Atlanta Emerging Markets, Inc. (AEMI) and Access to Capital for Entrepreneurs (ACE).

“First Step is doing the critical work of providing economic opportunity for individuals facing challenges to employment and stability,” said Christina Szczepanski, Managing Director for the Southeast at Reinvestment Fund. “We are pleased to be able to support the sustainability and growth of this nonprofit enterprise whose efforts so closely align with our own mission to create stronger, more equitable communities.”

First Step Staffing, Inc., (FSS) is an Atlanta-based staffing agency that finds temporary employment in factories, distribution centers and hospitality businesses for men and women with significant barriers to workforce entry and re-entry. Most of FSS’s clients have recently experienced either homelessness or incarceration. Many are veterans who have faced difficulties readjusting to civilian life.

This week, the House and Senate cleared the fiscal year 2020 spending bills. The legislative packages include increased investment in the United States Department of Agriculture’s Healthy Food Financing Initiative (HFFI). HFFI is administered by Reinvestment Fund on behalf of USDA Rural Development to improve access to healthy food in underserved areas.  The bills now await the President’s signature. Read our full statement.

Reinvestment Fund announced three initiatives in memory of its founding Executive Director, Jeremy Nowak. Jeremy led Reinvestment Fund for 26 years, establishing a powerful vision for strong, equitable communities. The initiatives honor key aspects of Jeremy’s life work.

“We at Reinvestment Fund were fortunate to have witnessed and learned from Jeremy’s genius for so many years,” Don Hinkle-Brown, President and CEO of Reinvestment Fund. “In designing these initiatives, we want to memorialize his legacy and encourage work that advances his life’s pursuits.”

The Philadelphia Department of Public Health has announced the launch of the Philadelphia Food Justice Initiative, an exciting new program in partnership with the Reinvestment Fund to support community-driven projects to advance food justice. As part of the launch, the initiative announced the selection of six projects for a total of $180,000 in funding support.

Reinvestment Fund today announced $1.8 million in financial and technical assistance awards to 23 projects through the Healthy Food Financing Initiative (HFFI) inaugural grants program. Funding for the HFFI grants program is provided by the United States Department of Agriculture (USDA), authorized by the 2014 Farm Bill. Ten projects received a total of $1.4 million in financial assistance and another 13 projects received a total of $400,000 in technical assistance awards.

Reinvestment Fund announced the appointment of Jeff Hebert, Partner at HR&A Advisors to its Policy Advisory Board.

Revitalizing a Community, Helping Kids Eat Better and More
A Transformation in East Baltimore
A. Hoen & Co. was once among the most important lithographers in the US—its iconic prints included early National Geographic maps. At its peak, its complex in East Baltimore employed over 250 people. When the business closed in 1981, it left a dominating vacancy in a neighborhood that has also struggled with vacant homes and unemployment. This year, with financing from Reinvestment Fund, the complex is finally being redeveloped, breathing new life and hope into the neighborhood.

Reinvestment Fund announced Yonina Gray as its new Director of External Relations, responsible for driving national business development objectives to establish new market presence and relationships that pave the way for organizational growth.