Warner Norcross + Judd LLP represented Enterprise Community Loan Fund in its offering of $100 million aggregate principal amount of Enterprise Community Impact Notes in a multi-state securities offering for the 2024-2025 offering period.
This offering was made pursuant to federal exemptions from securities registration available for charitable organizations and pursuant to registration or exemption of the securities in each of the applicable states. The 2024-2025 offering of Enterprise Community Impact Notes commenced on July 31, 2024 and terminated on July 30, 2025.
Enterprise Community Loan Fund is a nonprofit community development financial institution focused on building opportunities in communities nationwide. It provides innovative financial products and technical assistance to mission-aligned organizations to acquire, develop and preserve quality affordable housing for low- and moderate-income families. It also works to revitalize their communities by providing access to good jobs, schools, transportation and healthy living environments. It will use capital raised in the offering primarily to provide loans to community-based, nonprofit and mission-aligned for-profit, affordable housing and community and commercial facilities borrowers.
“We leaned heavily on the considerable experience, sound judgment, clear processes and proactive communication that the entire Warner team provided as we prepared for, launched and completed our offering,” ECLF Managing Director of Impact Investing Anna Smukowski stated. “We view our Warner colleagues as integral, collaborative members of our team.”
The Warner transaction team was led by Corinne Curtis and included Christian Rhoades, Dana Dawe, Alex Rey and Sherri Van Eck.
Warner’s Impact Investing Practice Group
As one of the largest and most successful Impact Investing practice groups in the country, we have developed unparalleled expertise over more than thirty years representing nonprofit organizations in securities offerings that range from limited private placements to international public offerings of debt securities. Our impact investment team consists of attorneys, experienced paralegals and seasoned compliance specialists who advise nonprofit clients as to federal and state securities registration and exemption requirements, underwriting arrangements, placement agent engagements, broker-dealer and agent registration issues and marketing and advertising impact investment offerings in compliance with state and federal securities laws. We take pride in helping our clients fully utilize the unique securities laws exemptions available for charitable organizations while complying with the complex securities law requirements in all fifty states, Washington D.C. and the U.S. territories. We know that, with our help, our clients are well positioned to raise the capital they seek to serve the greater good.
