CDFIs are invited to complete an expression of interest form for the new joint venture between OFN and Woodforest National Bank: the CDFI Community Investment Fund, LLC. Funded by Woodforest and managed by OFN, the fund provides cost effective, flexible, subordinate long-term loan capital for CDFIs that finance community development projects and small businesses within the following 17 states: TX, NC, VA, WV, MD, IL, IN, PA, OH, NY, AL, KY, SC, LA, MS, GA, and FL.
At OFN Conference 2016, when the fund was first announced, Woodforest’s Cathy Nash shared why infusing this kind of capital into CDFIs was so important for the communities Woodforest serves: “Our partnership with organizations like yours help us to fulfill our dream, to be a part of the fabric of our local communities. By growing jobs, we grow sustainable communities.”
With an initial funding commitment of $5.5 million—and an option to increase the commitment up to $22 million over the next four years—the Fund is targeting individual investments of between $250,000 and $750,000.
Complete a short expression of interest form and an OFN representative will contact you to discuss the investment in detail and discuss the application process in greater detail
OFN is also hosting an information call on March 1 at 1:00 PM EST to review application qualifications and take questions from interested Members.