A New Gig for Thiru Vignarajah (Maryland Matters)

Summary

Maryland Matters story by Josh Kurtz, dated August 31, 2021, reports that Thiru Vignarajah, a former federal and state prosecutor, would become the new CEO of Capital Plus Financial, a community development financial institution (CDFI) and subsidiary of Crossroads Systems, Inc. Eric Donnelly, the former Capital Plus Financial CEO, will remain CEO of the holding company. The company said its loan portfolio balance grew to more than $130 million over the past year. It also said it approved nearly 480,000 federal Paycheck Protection Program loans amounting to $7.6 billion, more than 80% of which went directly to companies and independent contractors of color.

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A New Gig for Thiru Vignarajah

By Josh Kurtz - August 31, 2021 6:45 am

Thiru Vignarajah, the former federal and state prosecutor who has run high-profile campaigns for mayor of Baltimore and Baltimore City state’s attorney in recent years, is moving on to the financial services industry.

Capital Plus Financial, a community development financial institution (CDFI) and subsidiary of Crossroads Systems, Inc., a publicly traded investment company, announced Monday that Vignarajah would become its new CEO.

Thiru Vignarajah. Mayoral campaign photo.

“Thiru’s personal journey and record of leadership and service embody the values that define Capital Plus,” said former Capital Plus Financial CEO Eric Donnelly, who will remain CEO of the holding company, Crossroads Systems, Inc. “It is hard to imagine a better person to help write the next chapter of our remarkable story.”

Capital Plus bills itself as a company dedicated to closing the wealth gap in the U.S.

The company said its loan portfolio balance grew to more than $130 million over the past year, and that it helped small businesses survive the pandemic by approving nearly 480,000 federal Paycheck Protection Program loans amounting to $7.6 billion, more than 80% of which went directly to companies and independent contractors of color.

“Capital Plus has emerged as a national leader in tackling the barriers that fuel the racial wealth gap, from access to capital and low financial literacy to discrimination in mortgage lending and lack of credit history,” Vignarajah said in a statement. “This is a pioneering community financial institution that is not just talking about these longstanding problems, but finding ways to solve them. I am honored by the opportunity to build on this success and continue this mission-driven work.”

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