On March 16, American Banker reported on the newly released Administration’s FY18 budget proposal. John Heltman and Ian McKendry of American Banker interviewed several CDFI industry representatives and bankers, including OFN’s Lisa Mensah.
“…Lisa Mensah, president and CEO of the Opportunity Finance Network, a group that represents nearly 240 CDFIs, said the program helps provide incentives to coax private investment into areas that might otherwise be neglected.
‘This is the flagship federal program that provides these kinds of equity grants that really leverage,’ Mensah said. ‘For every dollar that a CDFI gets from the fund they use that to get 10 other dollars from other sources, most of those private. This is really the yeast that allows the whole tank to grow.’…”
Read more here.