Enterprise Community Partners has launched the Enterprise Community Impact Note, a new product that will raise money from individuals and organizations to build or preserve affordable housing and community projects.
The financial returns rival those of traditional CDs, according to Enterprise.
Investment terms range from two to 10 years and include annual interest payments to investors in the 2 percent to 3.5 percent range, with a minimum investment of $5,000, said Enterprise.
The principal is returned at the end of the term. Investors of $500,000 or more can select target geographies or the type of investment Enterprise will pursue with their funds.
“The Enterprise Community Impact Note is an innovative financial product open to everyone,” said Terri Ludwig, president and CEO of Enterprise Community Partners, in a statement. “It allows people to invest in the future of America’s communities while receiving competitive financial returns with measurable social impacts.”
The note is offered in 26 states and the District of Columbia by the Enterprise Community Loan Fund.
For more information, visit www.enterprisecommunity.org/impactnote.