Building Opportunity: Exelon’s Community Impact Capital Fund in Action
Communities
Since her teenage years, Lisa Wainwright dreamed of starting a business dedicated to helping people. In 2020, that dream became a reality when Lisa founded DIY Wellness, a holistic mental wellness coaching and therapy practice. But like many entrepreneurs, Lisa faced unexpected challenges. A six-month permit delay placed some uncertainty around the future of her business and her goal of improving health and wellness access in her community.
That’s when Lisa leaned on Exelon’s Community Impact Capital Fund (CICF) that provided a welcomed boost. The CICF is a $36 million investment initiative launched in partnership with RockCreek, one of the world's largest diverse-owned global investment firms. The CICF was created to expand access to capital for businesses located in historically disenfranchised or socio-economically disadvantaged communities in Exelon’s service areas.
“The CICF allowed me to expand my business from a solo practice to a group practice with a physical location. It has also allowed us to expand the services that we offer,” said Lisa.
With a boost from funding support, DIY Wellness not only survived its start-up phase but is ready to flourish. The CICF allowed Lisa to begin her office remodel and provided enough operational funds to keep the business afloat during the delay. On July 11, Lisa celebrated the grand opening of DIY Wellness, which now employs a dedicated team of eleven highly trained professionals and offers over twenty services.
More than just a wellness center, DIY Wellness is driving local economic development by creating meaningful employment opportunities for community members. It is breaking down social barriers by providing accessible, high-quality mental health services to underserved Baltimore neighborhoods.
The CICF elevated DIY’s reach, allowing Lisa to remain committed to improving the overall health and wellness of her local community. Lisa’s mission is rooted in empowering clients to, “Discover the individual in you,” she says.
Often, businesses founded in historically underserved neighborhoods face significant barriers to accessing and securing the capital they need to grow, create jobs and reinvest in their communities. Many of the areas Exelon serves have disproportionately high unemployment, low-income levels and wage gaps.
Recognizing these challenges, the CICF works to remove some of these hurdles by investing and providing institutional insights and resources – all with the goal of supporting Exelon communities and the businesses that drive them. Initiatives like the CICF are one way we’re championing economic opportunity for people across our service territories.
To learn more about DIY Wellness, you can visit the website here.
Interested businesses can go to the CICF website to learn more, access the application here or contact RockCreek for more information about the program at cicf@therockcreekgroup.com.