NewsOFN Members Receive $110.5 Million from the CDFI FundOn September 24, the Community Development Financial Institutions Fund (CDFI Fund) awarded $204.1 million in grants and loans to 397 community development… September 24, 2020
NewsFederal Reserve Releases Community Reinvestment Act Reform ProposalOn September 21, the Federal Reserve Board of Governors voted unanimously to release their proposal to reform the Community Reinvestment Act (CRA) regulations. While… September 24, 2020
NewsOFN President Addresses CDFI Fund Community Advisory BoardOn August 27, the CDFI Fund’s Community Advisory Board held a virtual meeting where OFN President and CEO Lisa Mensah spoke to the group, joining leaders… September 1, 2020
NewsMembers of Congress Champion CDFIs as COVID Relief Talks StallOFN is very disappointed that COVID relief negotiations between Congressional leaders and the Trump Administration have broken down, especially as the health… August 10, 2020
NewsSBA Announces New Community Advantage Recovery Loan ProgramThe Small Business Administration (SBA) recently announced a new COVID-19 recovery program, the Community Advantage (CA) Recovery Loan Program, that allows eligible CA Lenders… July 22, 2020
News$3.5 billion in New Markets Tax Credit Allocations AnnouncedOn July 15, the CDFI Fund announced $3.5 billion in New Markets Tax Credit (NMTC) allocations through the 2019 allocation round to 76 community… July 15, 2020
NewsHouse Subcommittee Approves $273.5 Million for CDFI Fund in FY 2021On July 8, the House Appropriations Financial Services and General Government (FSGG) Subcommittee approved its FY 2021 appropriations bill which includes $273.5 million for the… July 8, 2020
NewsCDFIs Outperform Other Paycheck Protection Program (PPP) LendersUpdated July 8, 2020 August 8 is the new deadline for lenders to submit Paycheck Protection Program (PPP) applications on behalf of… June 29, 2020
NewsPennsylvania CDFIs to Administer $225 Million in Grants to Small Businesses Impacted by COVID-19On June 8, Pennsylvania Governor Tom Wolf announced a $225 million statewide grant program to support small businesses impacted by the COVID-19… June 9, 2020