A SAGE Loan, A Smart Move
By Frank Altman, President and CEO
Great story in Monday’s Minneapolis Star Tribune about SAGE Electrochromics and its “green” window technology!
It’s even better when you know that four years ago, CRF and its lending partner, Minnesota Community Capital Fund, gave SAGE a $225,000 gap loan, which helped them get a jump-start on their $4.8 million office and plant expansion.
Keep in mind this was long before the state and city stepped up to offer them grants, loans and tax incentives, before the federal government offered SAGE a guaranteed loan and millions in tax credits and before big electric coops came offering low-interest loans.
Our SAGE loan sure was a smart move.
Thanks to the loan, SAGE was able to build its new offices and plant and improve its “smart glass” technology. This technology, which is manufactured only by a handful of companies worldwide, features electronically controlled tinting that cuts harmful sun rays and reduces energy (i.e. air conditioning) costs.
Since CRF and MCCF gave SAGE its initial loan, they have attracted millions in capital from private investors. They also enjoy business subsidies from government agencies that offer incentives to help boost employment and energy conservation. (The SAGE technology is seen as a boon to the nation's power grid because it could dramatically reduce air-conditioning needs when electrical demand is highest.)
SAGE doesn't yet make a profit, but SAGE’s founder and CEO expects they will join the list of successful Minnesota window and glass companies like Marvin Windows and Andersen Windows.
We believed in the sagacity of their strategy back then. We believe in them still.
Only now, we have a lot more company.
Tuesday, November 30, 2010
Wednesday, November 17, 2010
Thanks for Giving to the Max
By Frank Altman
President and CEO
Thank you to everyone who gave to CRF on “Give to the Max Day.”
As a result of your generous support, CRF raised $9,675 that we will use to help create jobs and build stronger communities.
Thanks to you, we can help small business owners access the finances they need to expand and grow, hire new employees and succeed.
Since 1988, CRF has helped businesses create or retain more than 44,000 jobs in low- and moderate-income communities. More jobs means thriving communities and a better quality of life for everyone.
Thank you again for your donation that will help us change people's lives for the better.
By Frank Altman
President and CEO
Thank you to everyone who gave to CRF on “Give to the Max Day.”
As a result of your generous support, CRF raised $9,675 that we will use to help create jobs and build stronger communities.
Thanks to you, we can help small business owners access the finances they need to expand and grow, hire new employees and succeed.
Since 1988, CRF has helped businesses create or retain more than 44,000 jobs in low- and moderate-income communities. More jobs means thriving communities and a better quality of life for everyone.
Thank you again for your donation that will help us change people's lives for the better.
Tuesday, November 16, 2010
The Economic Recovery Starts with YOU
The Economic Recovery Starts with YOU
Support CRF Today on “Give to the Max Day”
Today is “Give to the Max Day,” when your donated dollars to CRF go even further. Here’s a link to CRF’s page: http://givemn.razoo.com/story/Community-Reinvestment-Fund-Usa.
When you give to CRF today, we have a chance to win an additional $10,000 or $20,000 that we can use to help create jobs and build stronger communities. Plus, one donor will be randomly chosen every hour throughout the day and their chosen charity will win an additional $1,000 grant.
Times have been tough for small business owners – this recession has hit them hard. Most simply can’t access the funds they need to grow, make needed updates or hire new employees.
You can make a difference. Supporting CRF helps create jobs, ensuring long-term growth and stability for communities in need. The economy recovery starts right here, right now, with YOU!
Here’s what a couple of our donors have said about why they give to CRF:
“CRF brings capital to communities in need and gives small business loans to people who can’t get them from conventional lenders. For me, it all comes down to strengthening communities by creating jobs and helping people help themselves.”
Cate Hillesheim, Financial Analyst, Tornier
“I give to CRF because I believe in the mission. It moves me. They literally change people's lives. They transform the whole of a community. Their ROI (return-on-investment) as a philanthropic organization is in a class of its own.”
Alicia Phillips, President, Redwood Philanthropic Advisors
Please share this with friends who share your concern for job creation and building stronger communities.
Thank you for your support!
P.S. Do you have a Facebook, LinkedIn or Twitter account? Please update your status with one of these suggested “tweets:”
I'm giving to CRF-USA on "Give to the Max Day” because CRF is about creating jobs http://bit.ly/azg0hZ
I have friends out of work – who doesn’t? That’s why I’m supporting CRF on “Give to the Max Day.” http://bit.ly/azg0hZ
CRF gets my donation on “Give to the Max Day” because they are helping create American jobs http://bit.ly/azg0hZ
Support CRF Today on “Give to the Max Day”
Today is “Give to the Max Day,” when your donated dollars to CRF go even further. Here’s a link to CRF’s page: http://givemn.razoo.com/story/Community-Reinvestment-Fund-Usa.
When you give to CRF today, we have a chance to win an additional $10,000 or $20,000 that we can use to help create jobs and build stronger communities. Plus, one donor will be randomly chosen every hour throughout the day and their chosen charity will win an additional $1,000 grant.
Times have been tough for small business owners – this recession has hit them hard. Most simply can’t access the funds they need to grow, make needed updates or hire new employees.
You can make a difference. Supporting CRF helps create jobs, ensuring long-term growth and stability for communities in need. The economy recovery starts right here, right now, with YOU!
Here’s what a couple of our donors have said about why they give to CRF:
“CRF brings capital to communities in need and gives small business loans to people who can’t get them from conventional lenders. For me, it all comes down to strengthening communities by creating jobs and helping people help themselves.”
Cate Hillesheim, Financial Analyst, Tornier
“I give to CRF because I believe in the mission. It moves me. They literally change people's lives. They transform the whole of a community. Their ROI (return-on-investment) as a philanthropic organization is in a class of its own.”
Alicia Phillips, President, Redwood Philanthropic Advisors
Please share this with friends who share your concern for job creation and building stronger communities.
Thank you for your support!
P.S. Do you have a Facebook, LinkedIn or Twitter account? Please update your status with one of these suggested “tweets:”
I'm giving to CRF-USA on "Give to the Max Day” because CRF is about creating jobs http://bit.ly/azg0hZ
I have friends out of work – who doesn’t? That’s why I’m supporting CRF on “Give to the Max Day.” http://bit.ly/azg0hZ
CRF gets my donation on “Give to the Max Day” because they are helping create American jobs http://bit.ly/azg0hZ
Monday, November 15, 2010
Why I Give to CRF: Because They Make Dreams Come True
By Cate Hillesheim, Financial Analyst, Tornier
I interned at CRF back in 2008 working in development, where I helped with prospecting and grant writing. During the year I was there, I wrote a lot of the success stories about CRF’s clients, particularly those in Minneapolis.
[Note: CRF employs several interns during the summer months and throughout the school year.]
My favorite story was about La Perla Tortilleria, which is right down the street from where I lived in South Minneapolis. What particularly struck me was the dedication and persistence of La Perla’s owner, Jose Payan. With CRF’s help, he was able to secure the financing he needed to really grow his business and transform La Perla Tortilleria into a thriving wholesale operation, selling tortillas to restaurants, grocers and large wholesalers throughout the state.
CRF’s loan allowed him to purchase a new building, new equipment, and make necessary property improvements. In addition, as part of the expansion, Jose was able to hire new employees.
I can now find La Perla tortillas at my local grocery store!
My experience at CRF helped develop my interests and career path. Working in development at CRF allowed me to see the huge impact CRF has on communities all across the U.S. I heard firsthand the stories of individuals who were able to make their dreams come true.
CRF brings capital to communities in need and gives small business loans to people who can’t get them from conventional lenders. For me, it all comes down to strengthening communities by creating jobs and helping people help themselves.
I hope that anyone who’s reading this will join me in giving to CRF on Tues., Nov. 16 during “Give to the Max Day,” when you can stretch your dollars to make an even greater impact on communities and helping people’s dreams come true.
By Cate Hillesheim, Financial Analyst, Tornier
I interned at CRF back in 2008 working in development, where I helped with prospecting and grant writing. During the year I was there, I wrote a lot of the success stories about CRF’s clients, particularly those in Minneapolis.
[Note: CRF employs several interns during the summer months and throughout the school year.]
My favorite story was about La Perla Tortilleria, which is right down the street from where I lived in South Minneapolis. What particularly struck me was the dedication and persistence of La Perla’s owner, Jose Payan. With CRF’s help, he was able to secure the financing he needed to really grow his business and transform La Perla Tortilleria into a thriving wholesale operation, selling tortillas to restaurants, grocers and large wholesalers throughout the state.
CRF’s loan allowed him to purchase a new building, new equipment, and make necessary property improvements. In addition, as part of the expansion, Jose was able to hire new employees.
I can now find La Perla tortillas at my local grocery store!
My experience at CRF helped develop my interests and career path. Working in development at CRF allowed me to see the huge impact CRF has on communities all across the U.S. I heard firsthand the stories of individuals who were able to make their dreams come true.
CRF brings capital to communities in need and gives small business loans to people who can’t get them from conventional lenders. For me, it all comes down to strengthening communities by creating jobs and helping people help themselves.
I hope that anyone who’s reading this will join me in giving to CRF on Tues., Nov. 16 during “Give to the Max Day,” when you can stretch your dollars to make an even greater impact on communities and helping people’s dreams come true.
Thursday, November 11, 2010
Why I Give to CRF: Because They Change People’s Lives
Why I Give to CRF: Because They Change People’s Lives
By Alicia Phillips
President, Redwood Philanthropic Advisors
I give to CRF because I believe in the mission. It moves me. They literally change people's lives. They transform the whole of a community. Their ROI (return-on-investment) as a philanthropic organization is in a class of its own.
I first learned about CRF and the great work they’re doing several years ago after my husband heard Frank (Frank Altman, CRF president) speak.
CRF is able to impact a community’s entire “ecosystem” which includes jobs, plus affordable housing, childcare centers, schools, community centers and health care clinics. These core assets are lacking in many poor communities. CRF is needed all across the country to make a difference in low-income urban and rural environments.
CRF and their lending partners can leverage the heck out of a dollar. Taking $20 million in donations over 20 years and turning it into $1.2 billion in loans to urban and rural communities across the country is phenomenal.
They get things done that “move the needle.” A CRF loan is a gift that keeps giving, because their gift stays in circulation – usually an entrepreneur who can use that loan to grow, expand, add more employees and become a successful contributor to the community.
I’m thinking about several loans they’ve made: to the La Perla Tortilleria or Morningstar Coffee & Tea for example. It all adds up to jobs. Jobs keep the community throbbing. And every job represents a family who lives and works in the community.
I hope that anyone who’s reading this will join me in giving to CRF on Tues., Nov. 16 during “Give to the Max Day,” when you can stretch your dollars to make an even greater impact on job creation and successful community “eco-systems.”
By Alicia Phillips
President, Redwood Philanthropic Advisors
I give to CRF because I believe in the mission. It moves me. They literally change people's lives. They transform the whole of a community. Their ROI (return-on-investment) as a philanthropic organization is in a class of its own.
I first learned about CRF and the great work they’re doing several years ago after my husband heard Frank (Frank Altman, CRF president) speak.
CRF is able to impact a community’s entire “ecosystem” which includes jobs, plus affordable housing, childcare centers, schools, community centers and health care clinics. These core assets are lacking in many poor communities. CRF is needed all across the country to make a difference in low-income urban and rural environments.
CRF and their lending partners can leverage the heck out of a dollar. Taking $20 million in donations over 20 years and turning it into $1.2 billion in loans to urban and rural communities across the country is phenomenal.
They get things done that “move the needle.” A CRF loan is a gift that keeps giving, because their gift stays in circulation – usually an entrepreneur who can use that loan to grow, expand, add more employees and become a successful contributor to the community.
I’m thinking about several loans they’ve made: to the La Perla Tortilleria or Morningstar Coffee & Tea for example. It all adds up to jobs. Jobs keep the community throbbing. And every job represents a family who lives and works in the community.
I hope that anyone who’s reading this will join me in giving to CRF on Tues., Nov. 16 during “Give to the Max Day,” when you can stretch your dollars to make an even greater impact on job creation and successful community “eco-systems.”
Wednesday, November 10, 2010
Support CRF on “Give to the Max Day” Nov. 16 and S – t – r – e – t – c – h Your Dollars
Support CRF on “Give to the Max Day” Nov. 16 and S – t – r – e – t – c – h Your Dollars
This coming Tues., Nov. 16 is “Give to the Max Day,” when tens of thousands of individuals will donate money to their favorite charities.
The best part? On this day, you s – t – r – e – t – c – h your donation to CRF and enable us to win even more money that can be used to help create jobs and build stronger communities.
So please join us on Nov. 16 by logging in to CRF’s GiveMN page and donating. No amount is too small! There’s no better day than Nov. 16 to make your donation really count.
Your donation helps us continue to touch the lives of families, business owners and communities across the country. CRF provides funding for small business owners and entrepreneurs to expand their businesses and add employees.
Last year, CRF raised more than $15,000 on Give to the Max Day. This year, CRF hopes to raise $20,000. Just think of what that could do for our neighborhoods and communities!
Throughout Give to the Max Day, an individual donor will be randomly chosen every hour to have an additional $1,000 given to the charity that received the donor's original donation. That could be you! In addition, GiveMN is awarding $20,000 and $10,000 grants to the two nonprofits that attract the largest number of individual donors on Give to the Max Day.
Remember to share this with any of your friends who share your concern for job creation and building stronger communities. Log onto CRF’s GiveMN page on Nov. 16 and donate any amount. Thank you for donating any amount – and we promise to s – t – r – e – t – c – h your dollars as far as they will go!
This coming Tues., Nov. 16 is “Give to the Max Day,” when tens of thousands of individuals will donate money to their favorite charities.
The best part? On this day, you s – t – r – e – t – c – h your donation to CRF and enable us to win even more money that can be used to help create jobs and build stronger communities.
So please join us on Nov. 16 by logging in to CRF’s GiveMN page and donating. No amount is too small! There’s no better day than Nov. 16 to make your donation really count.
Your donation helps us continue to touch the lives of families, business owners and communities across the country. CRF provides funding for small business owners and entrepreneurs to expand their businesses and add employees.
Last year, CRF raised more than $15,000 on Give to the Max Day. This year, CRF hopes to raise $20,000. Just think of what that could do for our neighborhoods and communities!
Throughout Give to the Max Day, an individual donor will be randomly chosen every hour to have an additional $1,000 given to the charity that received the donor's original donation. That could be you! In addition, GiveMN is awarding $20,000 and $10,000 grants to the two nonprofits that attract the largest number of individual donors on Give to the Max Day.
Remember to share this with any of your friends who share your concern for job creation and building stronger communities. Log onto CRF’s GiveMN page on Nov. 16 and donate any amount. Thank you for donating any amount – and we promise to s – t – r – e – t – c – h your dollars as far as they will go!
Monday, November 8, 2010
The Power’s On at Keller ElectricalBy Warren McLean, VP of Development
Aren’t grand openings just grand?
They are especially when we get to play a major role, like we did in the grand opening of Project High Voltage, a new $15.9 million, 106,000 square-foot facility built by Keller Electrical Industries of Phoenix, Ariz.
The grand opening took place on Nov. 5, when Keller Electrical showed off its new 106,000 square-foot facility. They currently have about 100 employees, but the new facility means they can add 125 new jobs by 2015, all within a redeveloping low-income neighborhood near the Sky Harbor Airport. The attractive new facility is a welcome addition to this area, where 38% of the residents live below the poverty line and the median family income is nearly half that of neighboring communities.
The Southwest’s leading provider of industrial motor repair, manufacturing and installation services, Keller Electrical has been serving its community for over 25 years. Proportionally, small businesses like Keller Electrical pay more for energy than large firms, making them more vulnerable to price increases. Keller Electrical realized the key to its future success lay in controlling costs through green building improvements, and thus set in motion the plans for this this new facility.
Project High Voltage was a complex project involving land acquisition, equipment purchases and facility construction to replace the company’s current leased location. All of Keller Electrical’s operations, manufacturing, repair, engineering, design and distribution needs were moved to the new facility, which also features 270 kilowatts of rooftop solar power generation that could cut the company’s power usage by half.
When Keller Electrical sought financing for Project High Voltage, they faced a gap between the sum needed – nearly $16 million – and what banks were willing to loan. Their primary lender, Colorado Business Bank, explored supplemental financing to complete the deal.
Because the property Keller Electrical was eying for this facility was located in a low-income community, the project qualified for New Markets Tax Credit (NMTC) financing. Colorado Business Bank was able to finance approximately $8.8 million of the project, and U.S. Bank invested NMTC equity to complete project sources. CRF helped bring the project to fruition by offering NMTCs to equity investors.
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