The COVID-19 CDFI Grant Program focuses on providing crucial flexible funds to the smaller CDFIs in OFN’s membership. These funds are intended to help smaller CDFIs withstand the COVID-19 crisis.
Priority is given to CDFIs that:
have the hardest time attracting resources from public and private sources of funding;
are more vulnerable, with less operating and capital liquidity in hand than larger CDFIs;
serve low-income, low-wealth, or traditionally under-resourced communities and populations
The COVID-19 CDFI Grant Program is generously supported by Morgan Stanley.
The COVID-19 CDFI Grant Program will award a total of $4.9 million in unrestricted grants. Applicants must have had less than $20 million in total assets documented on their FY 2018 audited financial statements. Awards will range from $50,000–$150,000. Grant funds can be used for operations, loan capital, loan loss reserve, or any other purpose.
The applicant is a US tax-exempt organization with a current 501(c)(3) determination letter from the Internal Revenue Service. If an organization did not have this tax status, it may be eligible if it is a U.S. Treasury CDFI Fund certified CDFI.
Be an OFN Member
The applicant must be an OFN member.
The applicant reports less than $20 million in total assets from their FY 2018 audited financial statements.
The application period is now closed.
If you have questions about the application process for the COVID-19 Grant Program, please email Seth Julyan or call 202.868.6920.
Become an OFN Member