Solomon Hess SBA Loan Fund One of First Investment Funds to Undergo New Aeris Impact Management Assessment
FALLS CHURCH, Va. and PHILADELPHIA, Sept. 4, 2019 — Solomon Hess Capital Management, an investment adviser founded to create value for investors through community development funds, and Aeris Insight, a leading rating and information service, announced today that the Solomon Hess SBA Loan Fund became one of the first investment funds to undergo an Impact Management Assessment Certification by Aeris. Aeris has certified that Solomon Hess has the appropriate impact management practices to deliver impact consistent with the SBA Loan Fund’s mission.
Said Paige Chapel, President and CEO of Aeris Insight, “In an increasingly crowded space, managers need to distinguish themselves by demonstrating their capacity to achieve positive social and environmental impact. Solomon Hess put their fund through our rigorous process to get an independent assessment of their policies, practices, and approach.”
The SBA Loan Fund was established in 2004 as a community development investment fund for banks seeking targeted Community Reinvestment Act (CRA) credit. The Fund’s mission is to “promote permanent job creation, retention, and/or improvement for low- or moderate-income persons who are employed by small businesses by creating greater financial liquidity and a lower cost of capital within the Small Business Administration 7(a) secondary market.” As of June 30, 2019, the Fund had $415 million in equity from 122 investors nationwide. Investors have the ability to target their investments by geography, community impact or business impact metric.
Solomon Hess Founding Partner Bill Einstein said, “We are proud to be one of the first companies to undergo this assessment by Aeris. This verification reinforces the commitment we have to provide investors with impactful community development investments in the communities they care about.”
The Aeris Impact Management Assessment of Solomon Hess’ SBA Loan Fund can be viewed here.
About Solomon Hess Capital Management
Solomon Hess is an investment adviser headquartered in Falls Church, Virginia, and registered with the Securities and Exchange Commission. Since inception in 2004, Solomon Hess has invested over $2.0 billion in Small Business Association (SBA) and U.S. Department of Agriculture (USDA) program loans and associated servicing assets in the secondary market. As of June 30, 2019, Solomon Hess managed gross assets of $751 million on behalf of over 180 institutional and accredited investors. Solomon Hess is Fund Manager to the SBA Loan Fund. More information is available at www.SolomonHess.com. Press contact: Michelle Lai, [email protected].
Aeris is a rating and information service built on the belief that capital will flow to good more quickly when investors have confidence in the accountability, standards, and transparency of impact investments. Since 2004, Aeris’ due diligence and data have helped investors source, underwrite, and monitor investments that meet their risk parameters and impact goals. Aeris’ clients range from large financial institutions with Community Reinvestment Act (CRA) obligations, mission-driven charitable foundations, government, private wealth managers, and impact fund managers. Learn more at aerisinsight.com. Press contact: Jody Lowe, [email protected].