October 30, 2018
ORIX Corporation USA and Good Returns Announce Funding for Organizations that Promote Economic Empowerment
Dallas, TX – October 30, 2018 – Good Returns, in partnership with ORIX Corporation USA (ORIX USA) and its foundation, announced today that three Texas-based impact organizations received funding to scale their work in helping underserved communities. The capital, which is being deployed as part of a new program the two partner companies launched earlier this month, comes to each organization in the form of a one-year, interest-free loan. With a focus on economic empowerment in the Dallas area, this funding is expected to develop employment opportunities for members of the community that each organization serves.
Through its unique Cycle program, Good Returns utilizes corporate capital to lend – interest-free and fully guaranteed – to the most promising impact organizations that align with a participating company’s social priorities. This new philanthropic model enables companies and corporate foundations, such as ORIX USA, to mobilize their resources more effectively while in turn maximizing the impact on their communities.
This particular Cycle, which has a total investment amount of $250,000, will support the following impact organizations and help scale their sustainable models for addressing community challenges:
Female Empowerment: Funding provided to Akola Project, Inc. will help 50 women in Dallas receive vocational training and access to work programs in order to achieve self-sufficiency and the ability to support their families.
Reintegration for the Formerly Incarcerated: Funding provided to Miles of Freedom will be used to expand its land maintenance and lawn care social enterprise as well as provide employment for two individuals participating in the organization's workforce re-entry program.
Veteran Entrepreneurs: Funding provided to PeopleFund will enable 30 Texas-based veterans to receive capital and business training to grow their small businesses. In addition to providing more than 900 hours of free training, this program will create or retain 25 jobs, which will bring about long-term stability for recipients.
Once the Cycle loan is repaid after one year, ORIX USA may reinvest the funds into future Cycles, creating an impact multiplier, which will enable the foundation to sustainably help more organizations fulfill their missions.
“Through our partnership with Good Returns, we are able to participate in a new way to leverage the financial resources of our foundation and our skillset as a financial services company to do more for our community," said Carol Greene, ORIX Foundation Director. "We are excited to be supporting these innovative organizations in creating economic opportunities for struggling communities."
In addition to providing a financial guarantee and completed due diligence, Good Returns helps cycling companies create and share powerful stories of how their Cycles have generated positive impact. Through film, photos and narrative, Good Returns is able to raise awareness of social initiatives and increase participation by the public in the important work of each impact organization.
“We are honored to be investing in Akola Project, Miles of Freedom and PeopleFund to help them grow and change more lives,” said Kyle Lukianuk, President of Good Returns. “Now that we've disbursed this important growth capital, we look forward to documenting and sharing the stories of these amazing organizations to help raise awareness about the causes they are addressing and the effective way in which they do it."
Capital was deployed to all three organizations in September of 2018.