The Catalytic Fund is proud to announce Heritage Bank has become its latest investor, committing $1 million to bring the fund’s total capital to more than $19 Million.
Lee Scheben, president of Heritage Bank
The Catalytic Fund focuses on channeling non-traditional growth capital to communities in need of thoughtful investment in underutilized sites and buildings.
The Catalytic Fund, a Community Development Financial Institution (CDFI), is a private sector, nonprofit company whose purpose is to attract quality place-based investments to Northern Kentucky that result in regional economic development and local community development. Its innovative financing products, comprehensive development services, and vibrancy initiatives convert community revitalization plans into completed projects with lasting and measurable impact.
“Heritage Bank was the primary lender for several Catalytic Fund projects, most notably the Bradford on Scott, which was a transformational adaptive re-use of a treasured historic building in downtown Covington,” said Jeanne Schroer, the Catalytic Fund’s president and CEO. “As a true community bank, Heritage’s strong commitment to our shared values makes them an excellent partner to create even more positive impact on our region.”
“Heritage Bank exists to improve the communities we serve and to improve the lives of people who call those communities home,” said Lee Scheben, President of Heritage Bank.
“The Catalytic Fund’s work aligns with our mission and priorities. As we continue to grow, investing in Greater Cincinnati development through larger direct relationships and participation in nonprofit efforts to unlock development opportunities throughout the region is a top-of-mind priority.”
Bradford on Scott, a Catalytic Fund project
