Investment enables SELF to expand the scope and scale of lending for disability home improvements
October 14th, 2022 – SELF has received a $2 million investment through CNote, an impact platform on a mission to close the wealth gap through financial inclusion. SELF will use the funds to expand its inclusive and accessible financing for disability improvements in low- and moderate-income (LMI) communities. The funds received through CNote are part of a custom note created by Netflix to support under-resourced communities, including developing more equitable resources among those with disabilities.
The funds will be used for disability improvements, such as bathroom retrofits, wheelchair ramps, lift systems, door widening, and home automation, which are often too costly for disabled LMI homeowners who have insufficient savings or they cannot access traditional financing due to poor credit scores. This financial gap causes many disabled homeowners to endure hardships and negative health impacts or they have to resort to predatory lenders to access financing for these projects. SELF’s inclusive underwriting policies focus on the applicant’s ability to pay, rather than credit scores, and therefore enable disabled homeowners to complete these much-needed home modification projects, which improves their health, quality of life, and well-being, while also rebuilding their credit scores.
Duanne Andrade, SELF Chief Strategic and Financial Officer, said: “This investment from CNote is a great example of how SELF continues to diversify our capital sources to meet the various needs of the communities we serve. Disability improvements are essential to our mission of providing inclusive financing that makes the home safe, affordable, and efficient.”
“CNote is thrilled to partner with SELF. We have been so inspired by their work providing financing to create climate resiliency in communities disproportionately affected by climate change, which are often low-income communities of color. We look forward to supporting their initiatives across the Southeast,” shared Yulia Tarasava, CNote COO and co-founder.
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About SELF
SELF is a non-profit, certified Community Development Financial Institution (CDFI) and America’s First Local Green Bank. SELF’s mission to rebuild and empower communities by providing access to affordable and equitable capital to homeowners, landlords, developers, contractors and small BIPOC businesses to help transition communities towards an inclusive clean energy economy. For more information or to arrange an interview, contact SELF’s Marketing Director Jake Sanders at 772-971-6367 or jakes@solarenergyloanfund.org.
About CNote
CNote is a women-led impact platform on a mission to close the wealth gap through financial innovation. Using the power of technology and a community-first framework, CNote enables corporations and individuals to efficiently invest at scale in fixed income and time deposit products that advance economic equality, racial justice, gender equity and climate change initiatives. Platform users can track their impact via CNote’s quarterly reporting on the social benefits of their deposits and investments. A Certified B Corporation, CNote was a B Lab “Best for the World” honoree in 2019 and was named “Best Women-Owned Business” by the U.N. Women’s Empowerment Principles program in 2020.