FOR IMMEDIATE RELEASE
Grow America Receives A+ Stable Rating from S&P Global Ratings
New York, NY – February 14, 2025 – Grow America, a national leader in economic and community development, is proud to announce that S&P Global Ratings has assigned the organization an A+ issuer credit rating with a Stable outlook. This rating reflects Grow America’s strong capital adequacy, sound financial management, and continued commitment to fostering economic opportunities in underserved communities.
S&P’s rating highlights Grow America’s very strong capital adequacy, with an equity position of $81.3 million as of fiscal year-end 2023 and a five-year average net equity-to-assets ratio of 18.8%. The organization also maintains sufficient liquidity to cover short-term financial needs, supported by a well-managed portfolio of loans and short-term investments.
“This A+ Stable rating from S&P Global Ratings is a testament to Grow America’s financial strength, disciplined management, and our unwavering mission to drive economic growth in communities that need it most,” said Daniel Marsh, President and Chief Executive Officer of Grow America. “It reinforces our ability to continue expanding access to capital, creating jobs, and developing affordable housing across the country.”
Despite challenges such as higher-than-peer nonperforming asset (NPA) rates, Grow America’s stringent underwriting standards and strategic financial policies have enabled it to maintain a stable financial position. Additionally, the rating reflects the organization’s highly experienced leadership team and multiyear strategic plan, ensuring continued sustainability and impact.
As a nonprofit organization founded in 1969, Grow America works to increase the flow of capital to urban and rural communities, delivering services nationally through its four programs:
- Investments in housing and community development
- Lending and entrepreneurial support
- Advisory support for community and economic development
- Training and professional education
Through its subsidiaries, including the Grow America Fund (GAF) and the Community Impact Loan Fund (CILF), the organization provides critical financing and resources to underserved areas. With this strong rating, Grow America remains well-positioned to continue driving economic growth and supporting communities nationwide.