IN THIS POST
CONTACT:
Jaclynn Coussa, Director of Marketing & Communications, REDF
jcoussa@redf.org | (415) 510-6027
FOR IMMEDIATE RELEASE
Los Angeles, CA (March 19, 2026) — A collaborative financing effort is mobilizing public and private capital to fuel inclusive economic growth in Leimert Park and beyond. By pairing impact capital with a state-backed loan guarantee, REDF Impact Investing Fund (RIIF), the California Infrastructure and Economic Development Bank (IBank), and Northern California Financial Development Corporation (NorCal FDC) are deploying flexible capital to support local entrepreneurs.
Through this partnership, $400,000 in revenue-based financing will support Our Circle LLC’s pipeline to design and build residential, commercial, and mixed-use projects in Leimert Park Village and across Los Angeles County. Patient capital paired with technical assistance will accelerate this Los Angeles-based enterprise in building economic resilience through construction and small business development.
An 80% loan guarantee provided by IBank under its State Small Business Credit Initiative (SSBCI), intermediated byNorCal FDC, reduces risk. This public/private partnership enables RIIF to extend flexible financing to entrepreneurs who have historically faced barriers to accessing traditional capital.
“Our Circle is building a thriving small business corridor in Leimert Park, and this investment can accelerate the creation of more than 30 quality jobs for people overcoming barriers to work,” said Carrie McKellogg, CEO of RIIF. “By partnering with the team at NorCal FDC on loan structuring and utilizing the IBank guarantee as a critical risk mitigation tool, we’re helping scale a community-led enterprise.”
Sanford Livingston, CEO of Northern California FDC, added, “NorCal FDC is proud to partner on a project that demonstrates how mission-driven capital, when coupled with state-backed guarantees and experienced lending partners, can unlock real opportunity for communities that have historically been underinvested. Our Circle’s work in Leimert Park is a model for inclusive growth and entrepreneurship.”
Our Circle’s vertically integrated ecosystem includes Community Labs, the company’s investment and development platform, and Akin Enterprises, its design-build and construction arm.
“Our Circle is committed to building an economy rooted in ownership, design excellence, and inclusion,” said Prophet Walker, founder and managing director of Our Circle. “This financing allows us to strengthen our leadership team and deliver the next phase of projects that reflect the creativity and resilience of Leimert Park.”
“By providing loan guarantees for small businesses, IBank and Nor-Cal FDC can partner with organizations like RIIF to support small businesses that create jobs, strengthen neighborhoods, and invest in the long-term vitality of communities like Leimert Park,” said Andy Nakahata, IBank executive director and CEO. “This collaboration demonstrates how public financing tools can catalyze private capital to support economic development across California.”
“This financing is a great example of how California is using innovative partnerships to deliver capital where it’s needed most,” said California State Treasurer Fiona Ma. “By combining state-backed credit support with impact investment capital, we’re helping local entrepreneurs like Our Circle create jobs, support small businesses, and strengthen communities across Los Angeles.”
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About REDF Impact Investing Fund (RIIF)
REDF Impact Investing Fund provides flexible, mission-aligned financing to social enterprises that create jobs and economic opportunity for individuals overcoming barriers to work. RIIF is affiliated with REDF, a venture philanthropy that invests in employment social enterprises nationwide. Learn more at redf.org.
About Our Circle LLC
Our Circle LLC is a for-profit enterprise platform advancing place-based community development through real asset investments, construction, and small business incubation. Its integrated ecosystem combines design, construction, hospitality, and workforce development to strengthen Los Angeles neighborhoods. Learn more about communitylabs.co.
About California IBank
The California Infrastructure and Economic Development Bank (IBank) is the state’s financing authority supporting infrastructure, small businesses, and sustainable economic growth.
About Northern California FDC
The Northern California Financial Development Corporation (NorCal FDC) provides loan guarantees and technical assistance to help small and emerging businesses secure financing and create jobs across California.
About the California State Treasurer’s Office
The California State Treasurer’s Office manages California’s finances to fund vital projects that improve lives across the state, including schools, infrastructure, healthcare, housing, clean energy and small business. As the state’s banker, the office oversees state bond sales, manages California’s debt portfolio, and invests public funds to strengthen state and local resources, processing approximately $3 trillion in payments in a typical year. Through fourteen boards, commissions, authorities, and more than thirty bond financing committees chaired by the Treasurer and ten additional boards on which the Treasurer is a member, the Treasurer’s Office serves as the hub of California’s financial ecosystem.
