OFN Response to COVID-19

  • OFN Response to COVID-19

OVERVIEW

The economic impact of COVID-19 is devastating for millions of Americans, particularly low-income and low-wealth communities. Individuals and families are experiencing deep, shocking effects as small businesses close indefinitely.

OFN & THE CDFI COMMUNITY

CDFIs are resilient, with decades of experience lending in all economic conditions. In the face of COVID-19 and its uncertainties, OFN and CDFIs will continue to do what we do best: We will ensure that credit continues to flow in rural, urban, and Native communities nationwide. We will help small businesses, nonprofit service providers, and affordable housing providers get through this economic downturn.

NEW PARTNERSHIP ANNOUNCEMENT

OFN is pleased to announce a new partner: Google. OFN is working with Google to launch the Grow with Google Small Business Fund to support small businesses impacted by the COVID-19 crisis.

SMALL BUSINESS OWNERS: FIND A CDFI

To access responsible finance for your small business, find a CDFI here.

ADVOCATE FOR AND CONNECT WITH CDFIS

Join OFN in working proactively to support CDFIs:

  • Advocate for federal funding of CDFIs to help support our communities.
  • Subscribe to our blog digest.
  • Follow us on TwitterInstagramFacebook, and LinkedIn.
  • If you are an OFN member CDFI, access the members-only resource center in our online community CDFI Connect.
  • Encourage CDFI stakeholders to continue to support CDFIs. CDFIs need flexible funding for emergency response now and for the long-term recovery of their borrowers and communities.

MESSAGE FROM OUR PRESIDENT AND CEO: #KeepCDFIsStrong

Lisa Mensah recently posted this message on the OFN Blog:


“In these uncertain days, CDFIs are stalwarts. This crisis makes CDFIs and our work more relevant, not less. We are of and in the communities left behind by mainstream finance. We can authentically say to people who feel marginalized in the best of times: 'We see you. We know your struggles. We are here to help.' Our network of CDFIs is doing everything possible to #KeepCDFIsStrong. Let’s fight together for America’s low-income, low-wealth communities. Thank you for joining us on this common mission.”


Now, more than ever, CDFIs lend where it counts.