BACKDROP AND PURPOSE
Compassion Capital Fund (CCI fund) is an emerging community development financial institution (CDFI) aimed at providing access to capital and support services to the small entrepreneurs in the U.S. Mid-Atlantic region.
The fund was created in part as a self-help response to the enormous socioeconomic challenges facing the African Diaspora. Although they are endowed with high academic achievement and entrepreneurial spirit, most African immigrants are new arrivals fleeing civil conflicts, political prosecutions and economic hardships in their native homelands in Africa. With the appropriate enabling mechanism, the African Diaspora could become an important “force for good” in the United States, as well as between the United States and Africa.
As a hybrid fund comprised of with a loan and (eventually) a community development venture capital components, the CCI fund extends loans, equity or near-equity financing and technical assistance to individuals and small enterprises across various sectors. Personal loans are primarily aimed at reducing payday and other predatory loans targeting vulnerable populations.
As an emerging Trans-Atlantic CDFI, the CCI fund will gradually build the necessary infrastructure aimed at linking small US-based, Diaspora-owned companies with trade and economic opportunities in Africa. As a member fund, CCI is sensitive and responsive to the needs of the people we serve.
The CCI fund is differentiated from others in the financial services industry: First, by our commitment to moving individuals and families into the middle class through entrepreneurship. We combine targeted financing with innovative support services aimed at assisting small entrepreneurs. Second, by our dedication to sound business practices: Our people are first and foremost Christians—dedicated to Christian principles by doing the right things the right way. They possess the relevant backgrounds necessary for sound business judgment and long-term sustainability. We employ simple but Christ-like methodology to inform and guide our work. And finally, our ultimate goal is to transfer ownership of credit and economic decision-making to local communities - thereby enabling them to manage their own socioeconomic mobility; hence, giving them equity-stakes in the mainstream economy.