Healthcare Georgia Foundation and OFN have launched an exciting program to build the capacity of CDFIs in Georgia. Offered by OFN with support from Healthcare Georgia Foundation, the Building the Capacity of CDFIs in Georgia program includes technical assistance with capital and operating grants for CDFIs working to strengthen community development and health in rural communities in Georgia.
The program strengthens the ecosystem of CDFIs and partners that are ready and able to deploy capital into areas of need throughout Georgia, particularly in deeply underserved rural areas and areas of persistent poverty. The program includes opportunities to share challenges, lessons learned, and build connections with partners in the health and community development ecosystem.
Diverse types of CDFIs are participating in the program, including loan funds, credit unions, and banks, all of which provide financial and development services related to social determinants of health in Georgia.
Opportunity Finance Network (OFN) awarded eight recipients with grant funds under the Building the Capacity of CDFIs in Georgia program. Developed with support from Healthcare Georgia Foundation, the program awarded capital and technical assistance grants to CDFIs (community development financial institutions) that provide financial and development services to improve the health and well-being of rural Georgians. CDFIs finance social determinants of health such as community facilities, healthy food options, affordable housing, small business and microloans, consumer financial products and services, transportation and transit development, and technology access.
The eight CDFIs who received grants are:
- Albany Community Together (ACT!), Albany, GA: To provide workshops in rural areas to strengthen credit readiness
- Carver Financial Corporation/Carver State Bank, Savannah, GA: To develop a strategic plan for Catalyst Development Corporation, a nonprofit affiliate
- Community Health Center Capital Fund, Inc., Boston, MA: To complete Performance Evaluation Profiles for Federally Qualified Health Centers in Georgia
- Georgia Cities Foundation, Atlanta, GA: To develop Georgia Placemaking Collaborative pilot program
- LiftFund, San Antonio, TX: To implement marketing and expansion in Georgia
- National Federation of Community Development Credit Unions, New York, NY: To expand financial education into rural areas, in partnership with Peach State FCU
- Neighborhood Lending Partners, Tampa, FL: To support expansion into Georgia
- Southwest Georgia United Empowerment Zone, Inc., Cordele, GA: To develop a sustainability plan and strengthen lending technology