Lending, grant, and social capital to scale up lending to diverse small businesses
Philadelphia, PA, April 14, 2016 (CDFI Connect)—This month, JPMorgan Chase & Co. launched Partnerships for Raising Opportunity in Neighborhoods (PRO Neighborhoods), a $125 million, five-year initiative to identify and support solutions for creating economic opportunity in distressed neighborhoods around the country.
Philadelphia, PA, April 13, 2016 (CDFI Connect)—The Kresge Foundation recently announced Kresge Community Finance, a $30 million program-related investment (PRI) finance offering to certified Community Development Finance Institutions (CDFI) and quasi-public and private Development Finance Authorities (DFA) expanding opportunities in America’s cities. The foundation will select applications through a competitive Request for Proposals (RFP). Successful nonprofit applicants also will receive an equity grant, equivalent to five percent of the amount of PRI financing disbursed. Information on how to apply can be found below.
DETROIT, November 11,105 (CDFI Connect) At the 2015 Wells Fargo NEXT Awards for Opportunity Finance celebration during Opportunity Finance Network’s Annual Conference in Detroit, Kimberley Ostrowski, Senior Program Director-Corporate Giving/Prudential Foundation of Prudential, a NEXT Awards partner, announced that the Awards will again focus on innovation in consumer financial services and products for 2016.
Detroit, MI, November 12, 2015 (CDFI Connect)—Today, Opportunity Finance Network (OFN) honored Moises Loza, executive director of Housing Assistance Council (HAC), with its 2015 Ned Gramlich Award for Responsible Finance at the annual OFN Conference. Loza is a longtime advocate of justice and social equality with extensive experience serving populations with a high need for affordable housing in regions such as Indian country, the Mississippi Delta, the Southwest border Colonias, and Appalachia.