OFN is pleased to announce the second round of Grow with Google Small Business Fund loans and Google.org-funded grants. Four CDFIs have received a total of $23 million in loans from the Grow with Google Small Business Fund and one CDFI has received a $125,000 Google.org-funded grant.
OFN announced today that we are working with Google to launch the Grow with Google Small Business Fund. The $125 million fund will deliver responsible financing to CDFIs to help thousands of small businesses hardest hit by the COVID-19 pandemic.
With the support of recent financing from OFN, CDFI Natural Capital Investment Fund (NCIFund) is continuing to strengthen its community development work in underserved rural and urban markets in West Virginia, North Carolina, and other communities in central Appalachia and the Southeast.
The Progress Fund was featured on NPR for their work creating opportunities in former coal towns by financing small business that are creating economic growth for their communities by tapping into the opportunities presented by nature tourism.
The Oregon Impact Fund, a $20MM fund raised by the Oregon Community Foundation, has made its first investments and they are all in CDFIs: