Portfolio Partner Profile
Capital for Change
Capital for Change (C4C) is the largest full-service Community Development Financial Institution (CDFI) in Connecticut. With support from community-minded investors and partners, C4C serves individuals, non-profits, small businesses, and public institutions across the state. Their high impact programs and products broaden access to affordable housing, energy efficiency and job opportunities for underserved communities. C4C’s mission is to provide flexible, creative and responsive financial products and services that support an inclusive and sustainable economy.
C4C’s work falls into four main product lines: 1. Loans to support affordable housing development and make housing more energy efficient 2. Programming that supports homeowners 3. Loans to small businesses and community building nonprofit organizations 4. Cost-effective, comprehensive loan servicing and loan administration. Calvert Impact Capital’s loan to C4C supports their commercial lending activity, primarily funding construction loans for affordable housing development.
C4C offers capital solutions that seek to create and sustain lasting, positive change to low-income communities, including broadened social and economic participation, economic growth and environmental sustainability. Since its’ inception through a 2016 merger of three CDFI’s, C4C has provided 125 loans totaling more than $58 million. These loans have helped create or maintain 2,550 housing units. Historically C4C has served Connecticut for more than fifty years and invested more than $425 million in mission-driven capital across our state.
Featured Impact Story

Impact Story
Financing housing and reducing emissions
Capital for Change (C4C’s) lending and investment is helping to revive a historic Bridgeport neighborhood. C4C has financed three separate loans impacting Great Oaks Charter School. Great Oaks is a college-focused secondary school providing tutoring to ensure the academic success of 425 students in grades 6 to 11. The school is located in Bridgeport’s historic West End, once the site of many abandoned factories.
In addition, developers purchased the property in 2015 with a predevelopment loan provided by Community Capital, one of three CDFI’s that merged in 2016 to form Capital for Change. A three-building complex was built here through a team of three community-focused lenders; CT Housing Finance Authority (Cherry St. Loft apartments), BlueHub Capital (Great Oaks Charter School) and C4C, who financed 17 units of tutor housing for the school’s AmeriCorps program. Lastly, C4C financed the $3.5M purchase and installation of a 440-kilowat fuel cell that was closed in 2019 and placed into operation in September 2020 that promises to spare Great Oaks Charter School, the tutor housing, and Cherry St. Lofts significant energy costs for the foreseeable future. The estimated annual savings in pounds of C02 Emitted is 5,690,120.
Photo by Firebelly Productions