OFN and HSBC Bank USA, N.A. have agreed to jointly create an investment fund, Good to Grow CDFI Investment Fund LLC, (the “G2G Fund”) that will make long-term, flexible equity equivalent investments to CDFIs that are active in certain geographic markets, outlined below. OFN and HSBC Bank will capitalize the G2G Fund, initially totaling, $25 million. OFN will manage the origination, underwriting and closing of long-term, flexible equity equivalent loans to approved CDFIs.
HSBC Bank USA, N.A., the American subsidiary of HSBC, one of the largest banking organizations in the world, is committed to providing flexible, cost effective capital to CDFIs. It has teamed up with OFN because of OFN’s strong connection with its member network and because of OFN’s expertise in quickly, efficiently and prudently lending to CDFIs.
The G2G Fund will provide equity equivalent investment to CDFIs financing community development projects, affordable housing, community facilities, and small businesses in HSBC Bank's 11-state retail market. The target geographic markets includes the following: California, Connecticut, Delaware, District of Columbia, Florida, Maryland, New Jersey, New York, Pennsylvania, Virginia, and Washington.
Interested? Complete an Expression of Interest Form
The G2G Fund intends to make 10-year, equity equivalent investments to CDFIs that are active in the Fund’s target geographic markets listed above. To increase the impact of this flexible capital on low-income and under-served communities, the Fund is providing individual investments of up to $2,000,000.
Click on the button below and complete a brief information form on your organization. OFN will review expressions of interest on a rolling basis and contact each of the interested parties to formally accept applications based on portfolio and timing considerations.
Can I access HSBC Bank USA, N.A.'s and OFN’s other credit products?
Participation in the G2G Fund does not preclude any CDFI from pursuing any other credit product or financial service offered by HSBC Bank USA, N.A. or OFN. CDFIs are encouraged to explore the other attractive financial services and products offered by both of these institutions. You should contact any of the following people regarding HSBC Bank USA, N.A. or OFN’s other financial services, respectively:
HSBC Bank USA, N.A. Contact:
Opportunity Finance Network Contacts:
To learn more about HSBC Bank USA, N.A. click here.