B Generous and Grays Peak Private Credit Launch the Impact Credit Fund (ICF) -- The Nation's First Private Credit Fund Dedicated to Nonprofit Lending

NEW YORK, Jan. 28, 2026 /PRNewswire/ -- B Generous, a venture-backed FinTech company that built the world's largest lending and depository marketplace for nonprofits, today announced the official launch of the Impact Credit Fund (ICF) in partnership with Grays Peak Private Credit. The ICF is the first and only private credit fund in the United States exclusively dedicated to lending to nonprofits, offering market-rate returns to investors while driving measurable social impact across the country.

This launch marks a historic milestone for both finance and philanthropy. The ICF opens an entirely new asset class: institutional-grade nonprofit credit—a sector long overlooked despite representing over $14 trillion in assets, 15% of U.S. GDP, and 10% of the U.S. workforce.

"This fund is the culmination of years of execution and innovation," said Dominic Kalms, Founder and CEO of B Generous. "For decades, fewer than 4% of banks have lent to nonprofits—not because these organizations are risky, but because they fall outside conventional underwriting models. The Impact Credit Fund changes that forever. We're proving that investors can earn strong, market-based returns while financing organizations that strengthen communities across America."

A Partnership of Institutional Strength

The Impact Credit Fund is managed in partnership with Grays Peak Private Credit, a leading institutional credit manager with deep expertise in structured finance, special situations, and middle-market lending. Grays Peak brings an institutional-grade governance framework and credit discipline, ensuring robust investor confidence. Scott Stevens (CEO) leads the Grays Peak team, bringing decades of experience managing multi-billion-dollar investment portfolios.

"This partnership combines Grays Peak's private credit expertise with B Generous' unmatched origination and technology platform," said Scott Stevens, CEO of Grays Peak. "In a market where nonprofits are searching for liquidity amid declining donations and federal funding cuts, the ICF offers a blue-ocean opportunity: stable yields from resilient borrowers, diversified revenue streams, and lower default rates than traditional commercial loans. It's impact investing at its finest—profitable, scalable, and transformative."

The First and Only Private Credit Fund of Its Kind

Unlike traditional social impact funds that sacrifice returns for mission, the Impact Credit Fund is not concessionary. It targets market-level yields comparable to conventional private credit vehicles while generating measurable community outcomes. This combination of strong financial performance and verifiable impact makes the ICF the only fund of its kind in the U.S. private credit landscape.

The Fund focuses on senior secured loans and structured credit facilities to nonprofits, backed by verifiable revenue streams such as government grants, multi-year pledges, and earned income, as well as other forms of collateral including real estate, endowment assets, equipment, and investment accounts. With no direct competition in this vertical, the ICF taps into an estimated $900 billion in outstanding nonprofit debt, where only the top 3-5% of organizations currently access credit—leaving 1.6 million nonprofits without viable borrowing options.

AI and Technology Driven Credit Excellence

At the heart of the ICF Fund is B Generous's proprietary credit algorithm, The B Generous SmartScore™, the first machine-learning model designed specifically for nonprofit underwriting. Built using data from almost two million nonprofits and approximately 950 million nonprofit data points, the B Generous SmartScore™ has achieved 97% historical accuracy in predicting loan defaults, an industry first.

Traditional commercial lending models typically achieve accuracy rates in the 75-90% range, making the B Generous SmartScore™ a significant advancement in credit risk assessment.

"We built the SmartScore™ simply solve one of the biggest inefficiencies in American finance," said Kalms. "Nonprofits drive enormous social and economic value, yet they've historically struggled to access credit simply because lenders haven't had a way to underwrite them correctly. We're changing that."

Nonprofits are frequently denied loans for reasons that have little to do with financial soundness. Popular wisdom suggests that nonprofits derive much of their revenue from donations, but that is simply not the case. In fact, only about 8% of nonprofit revenue comes from donations by the American public, while 81% of nonprofit revenue actually comes from earned income, just like a private business.

"The reality is that most nonprofits in the US are run like private businesses and generate their income like businesses, but they cannot borrow like businesses" Kalms explains. Nonprofits also bring in revenue from government grants and donations, making their income streams even more diversified. Some of these streams of revenue may not fit cleanly into conventional underwriting models, but B Generous and Grays Peak solve these issues by using a proprietary underwriting technology and a data-driven process that translates a nonprofit's social, financial, and operational health into clear credit indicators.

The Impact Credit Fund leverages predictive analytics, AI, and credit modeling to identify and price risk with unmatched precision. To date, B Generous' lending marketplace has approved over $50 million in nonprofit loans, maintaining a 0% default rate on loans that meet its current credit criteria.

Momentum and Mission

The ICF has already secured its first investor commitments, and has closed its first several nonprofit loans, with more closings anticipated this month, marking the transition from concept to capital deployment.

"We're not just creating another fund," added Kalms. "We're creating a permanent capital engine for good, one that delivers consistent returns to investors while empowering nonprofits that feed families, house veterans, educate children, and protect the environment."

The ICF launch comes amid surging demand: 71% of nonprofits report record-high service needs, while charitable giving from the American public is nearing a 28-year low. By enabling nonprofits to borrow against predictable revenues, the Fund fills a critical financing gap, helping organizations continue serving communities when they are needed most.

About B Generous

B Generous is a venture-backed financial technology company that has built the world's largest integrated lending and deposit marketplace for nonprofits. Leveraging advanced AI-driven underwriting through its proprietary B Generous SmartScore™, B Generous connects mission-driven organizations with capital and financial services, while enabling institutional investors to participate in high-performing, impact-driven credit assets. Recognized by Fast Company as one of the world's most innovative companies, B Generous has also received the FinTech Futures PayTech for Good Award and Product Awards' Best FinTech Product distinction, and has been featured in the Washington Post, Associated Press (AP), Nasdaq, Axios, LA Weekly, American Banker, NBC News, CBS News and was recently featured on the front cover of Great Lakes Banker Magazine.

About Grays Peak Capital

Grays Peak Capital (https://grayspeakcapital.com/) is a global investment firm focused on venture capital, private equity and private credit. The firm provides strategic and structured capital solutions across the capital stack, leveraging technology, data science and AI to identify business trends and investment opportunities across a variety of industries. The firm has multiple strategic partnerships and investments and is actively pursuing additional partnerships and strategic growth opportunities. The Grays Peak team brings deep experience from leading Wall Street firms and government related institutions, with long-standing relationships across DoD, DoT, DoC, USDA, and other agencies.

Press Contact:

Scott Stevens
212-506-7050
[email protected]
https://grayspeakcapital.com/

SOURCE Grays Peak Capital