
OVERVIEW
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:
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have the hardest time attracting resources from public and private sources of funding;
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are more vulnerable, with less operating and capital liquidity in hand than larger CDFIs;
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serve low-income, low-wealth, or traditionally under-resourced communities and populations
The COVID-19 CDFI Grant Program is generously supported by Morgan Stanley.
Terms
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.
Eligibility
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Charitable 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. -
Total Assets
The applicant reports less than $20 million in total assets from their FY 2018 audited financial statements.
Application Process
The application period is now closed.
Questions
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
Learn about eligibility and benefits, and submit an application here. Please email Anthony Wilder Puzzuoli with any questions.