The Change Company, America’s Community Development Financial Institution (CDFI), and its affiliates have raised $88 million of cumulative, perpetual preferred equity membership interests (Preferred Equity) through two private placement offerings.
The Change Company and its affiliates have successfully raised over $400 million over the past eighteen months to expand access to capital to low-income borrowers and communities.
The Offerings – which received investment grade ratings from Egan Jones – were completed through issuances of cumulative, preferred equity at both The Change Company and its subsidiary, Change Lending, LLC.
Performance Trust Capital Partners served as the exclusive financial advisor to The Change Company and sole placement agent in the Offerings. Gaynor Law Group, P.C. and Michelman & Robinson, LLP served as The Change Company’s legal counsel in the Offerings. Windels Marx Lane & Mittendorf, LLP served as legal counsel to Performance Trust.
