Since its incorporation in 2014, Bridge Investment has originated over $4 million in total loans demonstrating its capacity, experience, and financial strength. This growth is accomplished through member investments, noncash donations, grants, intermediary funding, government grants, interest, and fees.
In 2021, Bridge Investment was able to apply and receive CDFI Fund Rapid Response Program (RRP) funding amounting to $472,000. It was awarded $100,000 in low-cost loan capital by the Doris & Victor Day Foundation to support the Black Business Loan Program, and received a contribution of $20,000 by American Bank & Trust to grow its lending capital. We deployed grant funds awarded in December 2020 by the Opportunity Finance Network (OFN) in the first quarter 2021.
A myriad of Bridge Investment board members and partners came together to capitalize the Black Business Loan Fund last year. In 2021, a great collaboration between Quad City Bank & Trust, BankORION, Sauk Valley Bank and the Doris & Victor Day Foundation came together providing debt capital to Bridge Investment to support its Black-Business Loan Program supporting black-owned businesses like Wholly Grind Coffee House. American Bank & Trust immediately stepped in to provide the TIF loan to the business owners, Darryl and Kim Thompson, to complete the financing transaction. Bridge Investment closed on their small business loan with the Thompsons on Friday, November 12 and all partners helped to break the ground on Monday, November 15, 2021.