OFN Members and Allies Receive More Than $100 Million from CDFI Fund
Dafina Williams
On November 19, the Community Development Financial Institutions Fund (CDFI Fund) awarded $188.7 million in grants and loans to 284 community development financial institutions (CDFIs) through its fiscal year (FY) 2019 round of the CDFI Program and Native American CDFI Assistance Program (NACA) Program.
Through the CDFI Program, the CDFI Fund awarded $132 million in Financial Assistance (FA) to 261 organizations in 45 states, the District of Columbia, and Puerto Rico. The CDFI Fund also awarded $18.2 million in PPC-FA awards to 125 CDFIs that specifically serve Persistent Poverty Counties nationwide.
The CDFI Fund awarded $22 million to 14 CDFIs through the Healthy Food Financing Initiative Financial Assistance (HFFI-FA) and $3 million to 16 CDFIs through the Disability Funds Financial Assistance Awards (DF-FA), a supplemental program designed to help CDFIs finance projects and services to assist individuals with disabilities.
In September, the CDFI Fund awarded $9.16 million in Technical Assistance to 73 CDFIs: $7.24 million went to 60 CDFI Program Technical Assistance awardees and $1.92 million to 13 organizations through the NACA program. This funding provides much-needed capital to CDFIs that will allow them to deepen their reach into underserved communities by financing more businesses, building more homes, and creating more jobs.
OFN congratulates all recipients, especially our 143 members and allies who received more than 55 percent, or more than $100 million, of the total dollars awarded in the FY 2019 funding round.
Additionally, 11 OFN members received $6.44 million and two OFN allies received $850,000 through the NACA program. Ten OFN members received $16.15 million through the Healthy Food Financing Initiative Financial Assistance awards and 14 OFN members received nearly $2.7 million through the Disability Funds Financial Assistance awards.
The success of our members in this funding round demonstrates our network’s proven ability to deploy capital in rural, urban, and Native communities across the country.
OFN is also pleased to receive a $565,000 CDFI Financial Assistance award this year, which will increase our capacity to offer low-cost loans to our members.
To learn more about the awards, see the links below:
- Complete list of OFN members and allies receiving awards
- CDFI Fund press release