In July 2017, the University of New Hampshire (UNH) Foundation invested $3.06 million investment into the Community Loan Fund. This was the UNH Foundation’s first impact investment, and its first investment directly into a New Hampshire organization or business. This total investment was one of the largest investments ever in the Community Loan Fund, and the UNH Foundation has since grown that commitment to $4.3 million. The Foundation’s Treasurer, Erik Gross, said the convergence of several factors made it happen. UNH has a proud history in the field of sustainability, which includes its Sustainability Institute, several related majors, renowned work on climate research, a student-led trash-to-treasure program, and a University-wide commitment to earn the Platinum-level STARS (Sustainability Tracking, Assessment & Rating System) rating achieved later in 2017. At the same time, students encouraged UNH to divest its investments from fossil fuel companies and one student suggested making an investment in the New Hampshire Community Loan Fund. The Foundation’s investment advisor analyzed the Community Loan Fund and approved it as an impact investment, not only for UNH, but for many of its clients. “It’s a natural fit,” says Erik. “New Hampshire is part and parcel of what UNH is,” he says. “The fact that (the investment) fits within our portfolio as a prudent investment is very important, but after that, it’s a great way to be able to help the people of New Hampshire.”
Case Study
Hope Enterprise Corporation, with a commitment from Goldman Sachs, partnered with seven cities and nine historically Black colleges and universities to launch the Deep South Economic Mobility Collaborative (DSEMC). These include Alabama State University, Miles College, Philander Smith College, Southern University and A&M College, Dillard University, Xavier University of Louisiana, Jackson State University, Tougaloo College, and LeMoyne-Owen College. This collaborative formed to stabilize and strengthen businesses and communities devastated by the economic crisis. DSEMC invests in small businesses and entrepreneurs in the Deep South, particularly those from underserved and under-resourced communities. As a member of this collaborative, Alabama State University will expand its work to provide more technical assistance, business support and procurement opportunities to local businesses. The ASU Small Business Development Center (SBDC) has helped to launch and support hundreds of small and minority-owned businesses and its involvement in DSEMC allows the SBDC to continue to build their capacity to support the growth and advancement of community businesses.