Catalyst Secures $20MM Line of Credit for Lending Platform
Updated: Sep 12, 2019
Catalyst Community Capital, Inc., a mission-driven lender and impact investment firm, announced today the closing of a $20 million credit facility with a Boston-based commercial bank. The addition of this credit line gives Catalyst increased lending capacity to further advance its goal of providing capital to small business owners, community organizations, and mission-aligned developers.
“We are pleased and excited to have the confidence of this major financial institution,” Mike Maguire, Chief Operating Officer of Catalyst said. “This transaction represents a significant milestone for Catalyst and allows us to grow our balance sheet and further our mission.”
Catalyst will utilize the credit facility to fund commercial loans backed by first mortgages on commercial properties. “This funding gives us the ability to expand our product offering and geographic coverage, and will ultimately result in the creation of jobs and improvement of low- and moderate-income communities,” added Joseph Bonora, President of Catalyst.
Catalyst Community Capital, Inc. is a mission-based nonprofit corporation that specializes in strategies that achieve positive social impact, environmental sustainability, and attractive risk-adjusted returns for its investors and partners. Through managed investment funds and public-private partnerships, Catalyst provides capital, technical assistance and real estate development services to small business owners, nonprofit and community organizations, local governments, and mission-aligned real estate developers.