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 multistate securities offering for the 2025–2026 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 applicable state. The 2025-2026 offering of Enterprise Community Impact Notes commenced on July 31, 2025 and terminated on July 30, 2026.
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 communities by providing access to good jobs, schools, transportation and healthy living environments. Capital raised through the offering will primarily support loans to community-based, nonprofit and mission-aligned for-profit borrowers developing affordable housing and community and commercial facilities, along with other activities aligned with Enterprise Community Loan Fund’s mission to build opportunity in communities nationwide.
"Warner’s deep experience, practical judgment and responsive guidance were invaluable throughout this offering,” said Anna Smukowski, ECLF Managing Director, Business Development & Impact Investing. “Their team brought clarity and a collaborative, solutions-oriented approach at every stage of our offering process, and we are grateful to have them as trusted partners in advancing our mission."
The Warner transaction team was led by Corinne Curtis and included Lauren Maliszewski, Dana Dawe, Alex Rey, and Sherri VanEck.
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 30 years representing nonprofit organizations in securities offerings ranging 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 on 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 law exemptions available to charitable organizations while complying with complex securities law requirements in all 50 states, Washington, D.C., and the U.S. territories. With our help, clients are well positioned to raise the capital they need to serve the greater good.
