Through its foundation, Dallas-based financial services group ORIX USA Corp. will provide $250,000 in capital to Good Returns, a Dallas-based hybrid social enterprise that makes loans to impact organizations.
Good Returns will use the funds to help organizations scale sustainable programs that align with the ORIX Foundation’s main focus areas of basic needs, children, education, empowerment, health, and veterans, according to a release.
“This partnership will establish a new and effective way for companies and corporate foundations to mobilize more of their resources for doing good in their communities,” Good Returns President Kyle Lukianuk said.
GOOD RETURNS’ FUNDING IS A ONE-YEAR, INTEREST-FREE LOAN
The funding comes in the form of a one-year, interest free loan, called a “cycle”— the first-ever cycle for Good Returns from a multinational corporation.
“In-line with the values established by ORIX, our foundation seeks financially innovative models that maximize the impact we create in our local communities—something we’ve certainly found in Good Returns,” ORIX Foundation Director Carol Greene said in the release. “Our partnership in this new program will empower other companies and corporate foundations to do the same.”
Good Returns has built infrastructure to facilitate bigger investments from larger companies after four years of successful Cycle programs with its partner organizations.
“Our partnership in this new program will empower other companies and corporate foundations to do the same.”
It sought out the ORIX Foundation because of what Good Returns said is a mutual dedication to increasing social impact through innovative solutions to pressing community challenges.
So far, the ORIX Foundation has invested more than $12 million in solutions to complex community issues. Good Returns uses corporate capital to make interest-free and fully guaranteed loans to the most-promising impact organizations that are aligned with the participating company’s impact priorities, the release sad.
In addition to funds, the Cycle also provides a way in which customers, employees, and other company stakeholders share the stories of “impact-growing awareness and creating action,” the release said.
The selection of recipient impact organizations for the ORIX/Good Returns Cycle is being finalized, the release said, and it will be announced in coming weeks.
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