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OFN Awards 70 COVID-19 Grants to Smaller Member CDFIs

Category: Uncategorized

November 2, 2020 / Newswire

OFN is pleased to announce 70 awardees of the COVID-19 CDFI Grant Program, totaling $4.9 million in funding. Generously supported by Morgan Stanley, this program aims to deliver critically-needed flexible funds to smaller CDFIs in OFN’s membership with under $20 million in total assets.  

“We continue to fight for small businesses, nonprofits, and community-based organizations that have been hit hardest by the economic impact of COVID-19 and for communities that continue to struggle against persistent racial and economic inequality,” said Lisa Mensah, president and CEO of OFN in a recent press release. “With its generous grant, Morgan Stanley is empowering our member lenders that specialize in serving these communities to grow and remain strong in these uncertain times.” 

Of the awardees, 19 percent are Native CDFIs and 56 percent are led by people of color. In addition, more than half the client base of 73 percent of awardees are people of color or living in persistent poverty or rural communities.

Here are the COVID-19 CDFI Grant Program awardees:   

  1. Beaufort County Black Chamber of Commerce ($150,000)  
  2. Harlem Entrepreneurial Fund, LLC ($150,000)  
  3. Legacy Redevelopment Corporation ($150,000)  
  4. ACT! Albany Community Together, Inc. ($100,000)  
  5. AEDC (Arcata Economic Development Corporation) ($100,000)  
  6. Akiptan ($100,000) 
  7. ASSETS ($100,000)  
  8. Chicago Neighborhood Initiatives Micro Finance Group, Inc. ($100,000) 
  9. Children’s Investment Fund ($100,000) 
  10. Corporacion para el Financiamiento Empresarial del Comercio y de las Comunidades ($100,000) 
  11. JARI Growth Fund, Inc. ($100,000) 
  12. La Fuerza Community Development Corporation ($100,000)  
  13. Lake Superior Community Development Corp ($100,000)  
  14. Landmarks Community Capital Corporation ($100,000) 
  15. Lummi Community Development Financial Institution ($100,000) 
  16. NHS of San Antonio ($100,000)  
  17. Northwest Native Development Fund (NNDF) ($100,000) 
  18. People Trust ($100,000) 
  19. People, Inc. Financial Services ($100,000) 
  20. Redbud Financial Alternatives, Inc. ($100,000) 
  21. Solita’s House Inc. ($100,000) 
  22. Southwest Georgia United Empowerment Zone, Inc. ($100,000) 
  23. Wind River Development Fund ($100,000)  
  24. Wisconsin Native Loan Fund, Inc. ($100,000)  
  25. Woodlands Community Lenders ($100,000)  
  26. AAFE Community Development Fund, Inc. ($50,000)  
  27. Access Plus Capital ($50,000)  
  28. African Development Center ($50,000) 
  29. African Economic Development Solutions ($50,000)  
  30. Appalachian Community Capital Corporation ($50,000)   
  31. Baltimore Community Lending ($50,000) 
  32. Brazos Valley CDC, Inc. ($50,000) 
  33. Bridge Investment Community Development Corporation ($50,000)  
  34. Chi Ishobak, Inc. ($50,000) 
  35. Enterprise Development Fund of Erie County ($50,000)  
  36. Entrepreneur Works ($50,000) 
  37. First Children’s Finance ($50,000)   
  38. FORGE Community Loan Fund ($50,000)   
  39. Four Bands Community Fund ($50,000)   
  40. Four Directions Development Corporation ($50,000)   
  41. Hartford Community Loan Fund, Inc. ($50,000)   
  42. Hmong Wisconsin Chamber of Commerce, Inc. ($50,000)   
  43. IMPACTO Fund, Inc. ($50,000)   
  44. Just Community ($50,000)   
  45. Kentucky Habitat for Humanity ($50,000)   
  46. Latino Economic Development Center (MN) ($50,000)   
  47. Lei Hoolaha ($50,000)   
  48. LHOME CDFI ($50,000)   
  49. Local Enterprise Assistance Fund ($50,000)   
  50. Maryland Capital Enterprises, Inc. ($50,000)   
  51. Micro Enterprise Services of Oregon ($50,000)   
  52. NACDC Financial Services, Inc. ($50,000)   
  53. Nakoda-Aaniiih Credit Agency ($50,000)   
  54. Native360 Loan Fund, Inc. ($50,000)   
  55. Neighborhood Development Center ($50,000)   
  56. Northside Community Development Fund ($50,000)   
  57. Opportunity Resource Fund ($50,000)   
  58. Pennsylvania Assistive Technology Foundation (PATF) ($50,000)   
  59. Rising Tide Community Loan Fund ($50,000)   
  60. River City Capital Investment Corporation ($50,000)   
  61. Rural Investment Corporation ($50,000)   
  62. Shared Capital Cooperative ($50,000)   
  63. Southern Mutual Financial Services, Inc. ($50,000)   
  64. Triple Bottom Line Foundation (TBL Fund) ($50,000)   
  65. True Access Capital Corporation ($50,000)   
  66. Utica Industrial Development Corporation ($50,000)   
  67. Venture North Funding & Development ($50,000)   
  68. Westminster Economic Development Initiative, Inc. (WEDI) ($50,000)   
  69. Women’s Economic Ventures ($50,000)   
  70. Working Solutions ($50,000)