U.S. Bank, Enterprise Issue First Racial Equity Bond

U.S. Bank and Enterprise announced the issuance of an innovative racial equity bond. Issued by Enterprise Community Loan Fund, the $30 million bond will support issuing loans to Black, Indigenous and people of color (BIPOC) housing developers under Enterprise’s Equitable Path Forward initiative. The bond, which is the first racial equity bond issued by a Community Development Financial Institution (CDFI), will enable U.S. Bank to help advance racial equity in underserved communities of color. Additionally, Enterprise will use the bond proceeds to finance capital for BIPOC-led community-based nonprofit organizations and mission-aligned for-profit developers, which will be primarily used to finance the development of multifamily housing and community facilities.