Nonprofit & Not For Profit
A First-of-its-Kind Private Credit Fund Built for Nonprofits, Designed for Market Returns
About Impact Credit Fund (ICF)
The Impact Credit Fund (ICF) is the nation’s first and only private credit strategy dedicated exclusively to lending to nonprofits—delivering institutional underwriting, diversified social outcomes, and market-rate yields. The fund unlocks an overlooked asset class: institutional-grade nonprofit credit in a sector representing $14 Trillion in assets, 15% of U.S. GDP, and 10% of the U.S. workforce. The ICF is the nation’s premier double-bottom-line investment vehicle, designed for investors who demand market-rate private credit performance alongside tangible, verifiable social impact.
Impact Credit Fund (ICF)
Why Now
Nonprofits face record demand for services even as public giving trends lower and government funding tightens. Historically, <4% of U.S. banks lend to nonprofits—not due to excessive risk, but because legacy models weren’t built to underwrite mission-driven cash flows. The ICF closes this structural gap by financing resilient organizations with predictable revenue streams while targeting compelling returns to investors.
What we Finance
ICF focuses on senior secured loans and structured credit facilities to nonprofits, underwritten against verifiable revenues—including earned income, grants, pledges, and reimbursable contracts—creating a diversified, durable collateral framework for lenders and investors.
How we underwrite using AI and Machine Learning
ICF leverages B Generous SmartScore™, the first machine-learning model purpose-built for nonprofit underwriting. Trained on extensive sector data (more than 950 million data points from almost 2 million nonprofits) the B Generous SmartScore™ has demonstrated 97% historical accuracy in predicting defaults, and powers a disciplined, data-driven credit process from screening through monitoring.
Advantages
The ICF is managed in partnership with B Generous, a venture-backed technology company, backed by some of the world’s leading FinTech investors, which has created the world’s leading nonprofit lending and deposit marketplace. This combination pairs institutional governance and credit discipline with proprietary origination and AI-driven underwriting, enabling scalable deployment and rigorous risk control.
ICF targets market-level private credit yields while delivering measurable outcomes across community health, education, housing, workforce, and environmental initiatives. This is not a concessionary strategy; it is a professional, institutional vehicle that aligns competitive risk-adjusted returns with verifiable impact.
