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Fresh Start Fund

*For a more detailed look at the Fresh Start Fund, consider reading this in-depth summary.*

Goal: IRC’s Center for Economic Opportunity seeks to raise $10 million in loan capital for on-lending to refugees, including Afghans and Ukrainians. The Fresh Start Fund is the first round of a multi-year plan to deploy over $50 million in low-interest financing coupled with credit education to refugees between 2023-2028.

Why Invest? CEO loans help clients build assets and learn about the credit system while offering alternatives to extractive financial products. Refugees arrive in the U.S. with no credit or employment history and no understanding of the complex U.S. financial system. Many come from primarily cash economies. The primary financing options available to refugees are typically predatory, which can have negative long-term consequences, hampering self-sufficiency. An investment into the Fresh Start Fund is an investment in a refugee’s journey in the United States, accelerating their economic integration.

Impact & Reach: Investor funds will be used to make low-interest consumer, auto and business loans strengthened by linguistically appropriate credit education and 1:1 financial coaching. The program will be delivered across 16+ states through our 29 referring partners. Fresh Start Fund loans will be targeted to borrowers that entered the U.S. as a refugee or other humanitarian status. 100% of borrowers will participate in linguistically appropriate credit education. CEO projects deploying 90% of loans to low-income refugee households while maintaining a 95% repayment rate.

Case Study: One of CEO's first impact investors, Baltimore Community Foundation, highlighted their investment in CEO through this video.

Quarterly Impact Reporting: Investors will receive quarterly reports on borrower demographics, loan activity, portfolio performance, and notable trends.

Track Record: IRC’s Center for Economic Opportunity (CEO) is a national CDFI Loan Fund and a subsidiary of the International Rescue Committee. Since 2015, CEO has made over 6,000 loans totaling $20 million, primarily to low-income, credit-thin refugees and immigrants, while maintaining a 98% repayment rate. Watch this video to learn more.

To Learn More and Support Our Work: Contact Josh Geary at support@irc-ceo.org for more detailed financial information and projections about the organization and how you can support our critical work.

*This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction, nor shall there be any offer to sell or the solicitation of an offer to buy any securities in any state or jurisdiction in which such an offer or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction*

Photo of Mohammed, founder of RED Samboussas, serving customers at a San Diego farmer’s market. Mohammed came to the U.S. as a refugee and started his business with a CEO loan.

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