Equitable Path Forward

Equitable Path Forward is sponsored by Enterprise Community Partners. Provides grants to nonprofit affordable-housing organizations serving communities of color to eliminate racism in housing.

Equitable Path Forward | Enterprise Community Partners Equitable Path Forward is a five-year, $3. 5 billion nationwide initiative to help economically and socially disadvantaged developers gain access to capital and resources. It’s time to invest in housing providers who are deeply engaged in their own communities.

We pave an equitable path forward for economically and socially disadvantaged housing providers by: Filling the capital gap created by a lack of access to capital Strengthening providers through advisory services and other nonfinancial support Creating new career pathways to broaden leadership in real estate Investing in our communities aligns with our core values of service, expertise and integrity.

We have a long history of partnering with Enterprise and are excited to be part of this intentional approach. Darius A. Gill, Northern Trust Our neighborhoods bear the scars of decades of discriminatory policies and practices , including redlining and race-based federal mortgage programs, restrictive deed covenants based on skin color, predatory lending, and discriminatory property tax collection.

All of these policies and practices have led to: Homeownership rates almost twice as high for white than Black Americans A widening wealth gap where the median net worth of a white household is nearly eight times that of a Black household Deteriorating housing stock in rural communities The real estate industry itself where only 2% of development companies are Black-led Inequity for minority-led real estate firms — they control only 1.

5% of real estate assets that are under management One of the main causes for this disparity: socially and economically disadvantaged housing providers lack access to sufficient capital. It's impossible to grow their operations or real estate portfolios when equity and debt are out of reach. We're here to change that.

We’re helping people overcome the barriers that keep them from the table so they can build the future they envision for themselves and the communities they love. Lori Chatman, President, Capital Division Closing the Gap with Three Main Pillars Equitable Path Forward Growth Fund The $350 million Growth Fund aims to attract an additional $3. 1 billion in financing from loans, investments, and grants.

This capital will support both organizations and individual projects. Enterprise has contributed $10 million of our own funds to seed the initiative. The Growth Fund products include: Entity-level lending is provided through the Enterprise Community Loan Fund, our nationally recognized Community Development Financial Institution (CDFI) .

This includes unsecured lines of credit —one of the hardest types of capital to access. Due to wealth disparities, many developers lack access to "friends and family" growth capital. That changes with our unsecured lines of credit.

Entity-level grants are available through Enterprise’s Solutions division, which raises and deploys philanthropic capital. Includes support for organizational growth. Project-level equity is provided through our Housing Credit , Preservation Equity , New Markets Tax Credit and Opportunity Zones products, among other sources.

Project-level debt is available through Enterprise’s CDFI , among other sources. To make this capital go further, Enterprise has created a first-of-its kind Standby Guaranty Facility. This credit enhancement tool creates access to new sources of investments for developers whose balance sheets don't meet traditional investor requirements.

It also allows these developers to avoid third-party co-guarantor requirements. That way, we level the playing field for socially and economically disadvantaged developers so they can hold on to more of their profits and growth potential.

Equitable Path Forward Developer Advisory Service This $15 million program delivers consulting services, networking opportunities, business services, and evaluation support, helping organizations expand their capacity and invest and leverage capital.

Equitable Path Forward Leadership Program This $10 million, two-year rotational program is for future leaders in real estate and is modeled after distinguished programs at major industrial and financial firms. Read Our 2024 Annual Impact Report Read about the foundational success of Equitable Path Forward in our 2024 Annual Impact Report .

New Orleans Restoration Properties The Irons family, the owners and operators of New Orleans Restoration Properties, have called the Hollygrove neighborhood home for generations.

With the help of our Equitable Path Forward Investment, the city of New Orleans and the Louisiana Housing Corporation (LHC), the Irons family will create and preserve critically needed affordable housing in Hollygrove, and bring investment to a community that has historically seen minimal funding for new development. Learn more about their story. What best describes your role?

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