Financing from RSF gives social enterprises the capital they need to scale, innovate, and deepen their impact. This latest round of financing is supporting investments in renewable energy and affordable housing.
Halo Funding: Powering the transition to renewable energy
Halo Funding’s mission is to give homeowners a choice in how they power their lives. When households go solar, they have more reliable power that costs less and is better for the environment. Halo removes the financial burden of going solar by integrating a simple financing option with the nation’s top solar installers. This allows them to incorporate metrics beyond just credit score to assess the value of solar, and ensure that households who could benefit from going solar have the option to finance the cost of their solar system.
Halo sought out RSF to help meet their growing homeowner demand. The partnership will finance hundreds of solar installations and change the way those households are powered over the next 25 years. RSF’s $5 million capital commitment will finance roughly 1.8 megawatts of installed power, built by local solar installation companies across hundreds of households. The household benefit is estimated to be $45,000 of savings – per home – over the life of their solar system, in addition to the comfort of clean reliable energy.
“Halo’s work to make solar simple and accessible depends on values-aligned financing partners like RSF,” says Kevin Conroy, President and Founder of Halo Funding. “We’re excited to partner with RSF to change solar finance and extend the number of households who are able to realize the benefits of powering their homes with solar. Each solar installation is one step towards our collective goal of a world run on renewable energy.”
Green Power Ventures: Extending solar power to Black-owned businesses
Green Power’s mission is to lower the energy costs and carbon footprint of historically Black colleges, faith-based institutions, and multi-family facilities. They recognize that Black communities and Black-led institutions have largely been left out of the transition to clean, low-cost solar power. In response, they intentionally seek out Black-led organizations for their solar developments, ensuring that Black communities can both access clean sources of power and reap the rewards of solar’s long-term cost savings.
RSF’s $1.3 million loan will support two solar installations built by Green Power at Hype Athletics, a community focused recreation center providing space for fitness and team athletics in the Detroit Metro area. Having steady access to mission-aligned capital from RSF ensures that Green Power can keep existing solar installations running smoothly while it expands solar to new community-focused institutions.
Hogar Hispano: Affordable housing for the communities that need it most
Hogar Hispano’s mission is to create and preserve affordable housing for low- and moderate-income people. As a result of decades of discriminatory policy, people of color disproportionately face barriers to accessing safe, high-quality housing that they can afford. In response, Hogar Hispano has organized itself as an organization built by and for people of color, prioritizing communities of color in their work to expand housing access. Since 2011, Hogar Hispano has purchased over $400MM worth of single-family homes, helping to create or preserve homeownership of more than 3,800 homes nationally.
Offered in participation with Mission-Driven Finance, a fellow impact investor that is co-managing a housing fund with Hogar Hispano, RSF’s $3 million commitment will help Hogar Hispano acquire distressed mortgages and transform them into affordable housing. We’re proud to invest in this proven solution that expands access to safe and affordable homes and helps low-income families generate wealth.
HHI has a proven track record of preserving safe, high-quality, and affordable housing in communities where gentrification and displacement are major issues. “We’re proud to partner with mission-aligned lenders like RSF to support their critical work and help ensure housing remains a fundamental right for underserved families across the country.” — Marcos Morales, Executive Director, Hogar Hispano Inc.
Could your social enterprise benefit from mission-aligned financing? Learn more about RSF’s financing for mission-driven organizations.
