icon-search icon-programRelatedInvestments icon-missionRelatedInvestments icon-lowIncomeHousingTaxCredit icon-technology icon-placeBased icon-loanGuarantee icon-minority icon-equityInvestments icon-close calendar chevron-thin-up chevron-thin-down chevron-thin-right chevron-thin-left icon-facebook icon-linkedin icon-twitter icon-youtube icon-caret icon-lock icon-star-in-circle heart-icon home-icon dashboard-icon messages-icon user-icon

Congressional Hunger Center and Nonprofit Finance Fund - Working Capital Line of Credit for $500M

Success Story
Asset ClassWorking Capital
GeographyDistrict of Columbia
CityWashington, DC
Amount$500,000
Financing TypeWorking Capital or Line of Credit
Direct to BorrowerYes
Interest Areas
Food
Urban

Congressional Hunger Center (CHC) faced a tough situation due to the uneven timing of funding from the US government, its primary source of revenue.  In order to ensure a continuity of operations, it was critical to have a working capital line of a credit in place.  The organization reached out to a loan fund for assistance, however the request did not fit within their geography.  The loan fund suggested that CHC contact Partners for the Common Good and place the opportunity on CapNexus.  In September 2015, CHC posted the opportunity on the website in hopes of making a connection.   

Nonprofit Finance Fund received notification of the posting from CapNexus, and reached out to Shannon Maynard, Executive Director of CHC.  In addition, Dana Weinstein, Director of Innovation and Impact at PCG, reached out to Shannon to encourage a conversation between the two organizations.

Once CHC and NFF spoke with each other, they realized that there was a lending opportunity worth exploring further.  Claude Rosen completed the underwriting for a line of credit up to $500,000 on behalf of NFF, and shared that both the underwriting and closing process were a smooth transaction.  Claude further stated that CHC was great to work with and the process was seamless. 

NFF staff believes they have found a great new partner in Congressional Hunger Center, and look forward to their continued lending relationship.

The Congressional Hunger Center is a 501(c )3 nonprofit that works to trains and inspires leader who work to end hunger and advocates public policies that create a food secure world. This is done primarily through their leadership development programs: the Bill Emerson National Hunger Fellows Program and the Mickey Leland International Hunger Fellows Program.  Since its inception in 1993, the Congressional Hunger Center has created a community of 500 anti-hunger leaders who act as change agents, bridging the gap between grassroots efforts and national and international public policy to provide access to nutritious, affordable, and culturally appropriate food.

Founded in 1980, Nonprofit Finance Fund, helps organizations connect money to mission effectively, and supports innovations such as growth capital campaigns, cross-sector economic recovery initiatives and impact investing. A leading community development financial institution (CDFI) with over $300 million in assets under management, NFF has provided $575 million in financing and access to additional capital in support of over $1.5 billion in projects for thousands of organizations nationwide. In partnership with others, we've also supported the provision of more than $120 million in grants to nonprofits for recovery, capital and planning grants and reserves. NFF is headquartered in New York City and serves clients from five offices across the country.

 “We are grateful for CapNexus’ matching service, which helped us connect with a mission-driven partner and put our financing to good use,” said Shawn Luther, NFF’s Chief Credit Officer. “As we look to grow our loan portfolio, we see CapNexus as an important resource.” 

Non-Metropolitan County Status and NMTC Eligibility: 
Not Eligible or Not Non-Metropolitan

Data provided by

CDFI Fund New Markets Tax Credit Eligibility

% of Area Median Income: 
125.81%
Poverty Rate: 
13.90%
Unemployment Rate: 
5.20%
SBA HUBZone: 
Redesignated HUBZone Until December 2021
Medically Underserved Area: 
Medically Underserved Population

CDFI Fund Investment Areas

High Population Loss: 
Low Population Loss (Metro & Non-Metro)
Total Population: 
2,882
% of Area Median Income: 
125.82%
Unemployment Rate: 
5.2%
Poverty Rate: 
13.9%

CRA Eligibility

CRA Eligibility: 
Not Eligible
% of Area Median Income: 
127.44%
Minority Population: 
1,065

BEA Distressed Communities

BEA Distressed Community: 
Not a Distressed Community