C3 Fund: Renovo’s Community Development Lending Solutions
Our passion for transformation goes beyond individual renovation projects. As a local lender, our activities are intricately meshed with the neighborhoods where our customers and their employees live and work. We understand
the vital role private investment plays in building strong communities and creating economic opportunities, and we are committed to helping local entrepreneurs focus on revitalizing their own neighborhoods.
The distinction between outside development, and the local grassroots efforts of residents and firms focused on revitalizing their own neighborhoods, is measured by much more than ROI. As Renovo’s local clients are able to create sustainable wealth and financial independence, they serve as anchors in their communities, stabilizing and enabling continued growth through rising property values that catalyze further investment.
Community Development Financial Institution (“CDFI”) certification from the U.S. Department of Treasury enables Renovo to go even further in supporting these local entrepreneurs in their efforts to generate transformational wealth and neighborhood revitalization. As a CDFI, who dedicates time, energy and resources to supporting efforts that bring economic and cultural vibrancy to the communities in which we operate, Renovo can now play a greater role in supporting those invested in revitalizing their own neighborhoods. Providing access to affordable capital to the individuals and businesses of communities who are generally overlooked by traditional financial institutions will not only change the communities, it will transform lives and enable economic freedom.
Derek Walvoord, Program Director of the C3 Fund, discusses the mission of C3, Renovo’s new CDFI. Serving as a conduit to deliver capital from large institutional lenders to local real estate entrepreneurs investing in their own communities, C3 enables redevelopment and new construction; providing clean, safe and affordable housing in historically underserved communities .