Portfolio Partner Profile
UP Community Fund
UP Community Fund is a partnership between Urban Advisors and Progress Investment Management Company, a manager of emerging investment managers. The Fund was created in response to continuing racial tensions in American cities partially driven by unequal access to economic opportunity and lack of upward mobility. The Fund represents an attempt to leverage the mission, experience and leadership of sponsoring organizations to address the critical capital access gaps that exist in communities of color. The place-based loan fund provides commercial loans to small businesses, focusing on borrowers that may not have access to traditional financing. UPCF strives to address financing disparities by seeking qualified entrepreneurs of color who – with access to affordable credit – can grow their businesses and expand income and wealth building opportunities for their employees and communities.
UP Community Fund provides both capital and technical assistance to help borrowers become attractive traditional capital borrowers. It also actively seeks opportunities for borrowers to create impact within their communities, including job creation, hiring local employees, workforce development and profit sharing. Socially-oriented and mission-focused investors represent UP Community Fund's initial funders and they all believe in making concentrated efforts to create positive economic change. Calvert Impact Capital acted as the lead arranger and is serving as the administrative agent for this deal.