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US Bank Renews $1 million Investment in Impact Capital

SEATTLE, WA - July 8, 2009 - US Bank, a long-time supporter of Impact Capital, has extended its $1 Million Equity Investment until 2015. This funding will be used to provide bridge loans for housing and community facilities around the state.

"Through our investment in Impact Capital, U.S. Bank is committed to investing in nonprofits throughout the State of Washington that continue to support affordable housing and community services," Says Sharon Hughes, Vice President of Community Development at U.S. Bank. "The successful work of Impact Capital in combination with the strong leadership of Heyward Watson, CEO/President of Impact Capital, has lead to our continued support of the EQ2 investment opportunities. We encourage other lenders to get involved. It truly makes a difference."

Impact Capital leveraged funds to provide sixty-six loans totaling over $43 million dollars from US Bank's original one million dollar investment. These sixty-six loans were made in seventeen counties throughout Washington State, with the bulk of the loans made in the Puget Sound region. "We have seen the wide-spread community impact of our original loan to Impact Capital and are happy with the management of our investment. It's been a strong partnership that we are excited to continue it into the future," says Ann Melone of US Bank, who also serves on Impact Capital's Board of Directors.

The repayment rate on these loans has remained at 100%, thanks to the high-touch lending and technical assistance borrowers receive from Impact Capital. "These loans helped create 1,944 affordable rental units and 324 affordable homeownership units," says Heyward Watson, Impact Capital's CEO. "That's why US Bank is confident in their investment. They are seeing results -- not just for their financial institution, but for the entire Washington community."

Impact Capital provides strategic financial support to non-profits, housing authorities, and tribal entities in Washington State. The organization works to strengthen nonprofits as they work with residents to turn their dreams for their neighborhood into a reality; decreasing crime, creating parks and community space, and building affordable housing and commercial corridors "While we have made excellent progress over the years, our work is more important now than ever. As credit becomes scarce, nonprofits and communities need our unique programs to survive in this challenging environment," says Mr. Watson. "Our flexible financial tools funded in part by US Bank's loan commitment, help make affordable housing and community development projects a reality."

Impact Capital helps build and sustain vibrant neighborhoods in underserved communities throughout Washington.