Investment collaboration plans $100M impact in Chicago

CHICAGO (AP) - A new collaboration among philanthropic organization hopes to make investments of $100 million in Chicago nonprofit organizations and social enterprises.

The Chicago Community Trust, MacArthur and Calvert Foundation announced the project, called Benefit Chicago, on Monday.

Benefit Chicago will provide low-interest loans and other investments to help organizations working on education, child care, access to healthy food, quality affordable housing, energy conservation and job creation.

Loans will be granted for construction, expansion, launching new businesses, buying equipment and bridging financing gaps.

MacArthur President Julia Stasch says the goal is to allow investors make a meaningful impact in the city.

Investments can be made for as little as $20 online or through a brokerage account with a minimum investment of $1,000.

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Online: http://benefitchi.org/