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Kresge secures $33.1 million for nationwide loan guarantees backing investments that are public

Kresge secures $33.1 million for nationwide loan guarantees backing investments that are public

The Troy-based Kresge Foundation has guaranteed $33.1 million in commitments from nine U.S. foundations, a nonprofit lender and one wellness system to be involved in a first-of-its kind guarantee pool that assistance community development investments are installment loans legal in rhode island protected cash loans.

The Community Investment Guarantee Pool is “likely to unlock $150 million or more for investment in new affordable housing units, for small businesses to land the seed money they need to get to work and to allow those communities most affected by climate change to access the leading climate mitigation tools,” Kresge President and CEO Rip Rapson said in a release at its current level.