Cabrera Advises Charter Communications on Launch of Spectrum Community Investment Loan Fund

Monday, 02. March 2020 20:00

Chicago, Illinois--(Newsfile Corp. - March 2, 2020) - Cabrera Capital Markets LLC ("Cabrera"), an investment bank and institutional brokerage firm, has acted as a financial advisor to Charter Communications, Inc. (NASDAQ: CHTR) and its Spectrum Community Investment Loan Fund for the purpose of investing in various community development financial institutions (CDFIs) within Charter's 41-state operating footprint. CDFIs are organizations that specialize in lending money at competitive rates to small businesses in underserved communities.

"Our experienced and talented team worked diligently with all the players involved in the transaction to achieve the desired results for our client," said Martin Cabrera, Chairman and CEO of Cabrera. "We understand and embrace the mission of CDFIs as they contribute to job creation, improve quality of education, build infrastructure and strengthen the economy of many underserved communities throughout our country."

The first two investments of the Fund were deployed last week to a New York-based CDFI, Pursuit Community Finance (formerly known as Excelsior Growth Fund), and PeopleFund, a CDFI based in Austin, Texas. The Loan Fund also expects to invest $1 million in an Ohio-based CDFI later this year. Charter is committed to the communities where its customers and employees live and work, and through these investments in local small businesses, Charter will positively impact financially underserved communities by providing growth capital, creating new jobs and strengthening businesses.

"Spectrum's initial $3 million investment in New York, Texas and Ohio is expected to be combined with more than $12 million in total capital from other sources and lead to the creation of hundreds of new jobs in underserved communities throughout those states," said Jeffrey Buller, Vice President and head of the project for Charter Communications. "Each Loan Fund investment will be coupled with a grant to the CDFI to fund small business education and provide technical assistance to local entrepreneurs."

Santino Bibbo, Managing Director and Head of Corporate Investment Banking at Cabrera, remarked on the teamwork illustrated by Cabrera, "We appreciate the opportunity to consult and advise Charter on this transaction. Cabrera has further developed its expertise related to CDFIs and their modus operandi, and we look forward to continuing our collaboration with Charter and other corporations with similar objectives."

About Charter

Charter Communications, Inc. (NASDAQ: CHTR) is a leading broadband communications company and the second-largest cable operator in the United States. Charter provides a full range of advanced residential broadband services, including Spectrum TV® programming, Spectrum Internet®, Spectrum Voice®, and Spectrum Mobile™. Under the Spectrum Business® brand, Charter provides scalable, and cost-effective broadband communications solutions to small and medium-sized business organizations, including Internet access, business telephone, and TV services. Through the Spectrum Enterprise brand, Charter is a national provider of scalable, fiber-based technology solutions serving many of America's largest businesses and communications service providers. Charter's advertising sales and production services are sold under the Spectrum Reach® brand. Charter's news and sports networks are operated under the Spectrum Networks brand. More information about Charter can be found at corporate.charter.com.

About Cabrera

​Cabrera Capital Markets LLC - founded in 2001 - provides investment banking and full-service institutional brokerage services worldwide to a substantial and diversified client base that includes corporations, municipalities, financial institutions, federal agencies, unions, foundations and endowments. More information about Cabrera can be found at www.cabreracapital.com/contact.

About Pursuit

At Pursuit, our mission is simple: to provide businesses with affordable loans and resources so that they can reach higher, transform and grow. Pursuit is a community-focused lender where businesses can access more than 15 loan programs that provide financing from $10,000 to $5.5 million with affordable rates and terms. Last year alone, Pursuit provided more than $234 million in funding through 488 business loans, creating more than 2,900 jobs. Pursuit is a nationally recognized organization that focuses on serving businesses and lending partners in New Jersey, New York, and Pennsylvania. Pursuit Community Finance is the nonprofit, CDFI affiliate of Pursuit. Learn more at www.pursuitlending.com.

About PeopleFund​

PeopleFund is a registered 501(c)(3) nonprofit organization established in 1994. It is a U.S. Treasury certified Community Development Financial Institution (CDFI) and SBA certified lender. PeopleFund provides business loans up to $350,000 to Texas businesses that do not qualify for bank loans. It also provides client business assistance and education. 97% of loans are to target market of minority, women, and veteran business owners and those residing in low to moderate income census tracts. 59% of current loans are to startups and nonprofit organizations. It also makes SBA 504 loans up to $5 million and closes multiple high impact new market tax credit transactions. Through access to capital and educational opportunities, PeopleFund creates economic opportunity and financial stability for underserved people to build healthy small businesses. PeopleFund inspires, educates, funds, and elevates entrepreneurs on the path to prosperity and the American dream. More information can be found at www.peoplefund.org.​​​

Media Contact:
info@cabreracapital.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53032

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