On May 6th, 2020, Community Capital Management (CCM) announced an initiative to invest $100 million in COVID-19 relief efforts. CCM is a Green Business Network member and a leader in fixed income impact investing.
CCM’s core strategy looks to invest in high-quality, well-researched bonds that have positive societal impacts. Their new COVID-19 relief initiative will raise funds to invest in market-rate bonds covering a variety of sectors. CCM anticipates that many of its existing investment offerings will align with the initiative’s focus on disaster recovery, resilience, and remediation, as well as affordable health and rehab care, and enterprise development and jobs.
“With underserved communities and individuals being hard hit from COVID-19, we are most excited to be able to invest our clients’ capital into bonds financing a variety of much-needed community development activities including economic recovery programs, small businesses, and affordable housing,” says Alyssa Greenspan, CFA, President, and COO.
The full spectrum of bonds includes:
- Agency mortgage-backed securities (MBS) financing loans to low- and moderate-income (LMI) borrowers
- Agency commercial mortgage-backed securities (CMBS) financing affordable rental housing properties, many of which are helping with COVID-19 relief efforts
- Taxable municipal bonds financing economic development initiatives, predominately in LMI communities
- Corporate bonds financing COVID-19 relief efforts
- Asset-backed securities (ABS) financing small businesses, job creation, and economic inclusion opportunities.
David Sand, the chief impact strategist, said in Tuesday’s press release, “All of us have a role to play in the recovery of this widespread health emergency. We have already seen some examples of market-rate investments supporting relief efforts and we hope to see many more. We will also look to incorporate new areas of focus such as neighborhoods hardest hit by COVID-19 job losses.”
Learn more about CCM’s COVID-19 relief initiative at www.ccminvests.com.