COVID-19 CDFI Grant Program
Overview
Supported by Morgan Stanley, the COVID-19 CDFI Grant Program focused on providing crucial flexible funds to the smaller CDFIs in OFN’s membership. These funds were intended to help smaller CDFIs withstand the COVID-19 crisis.
Priority was given to CDFIs that:
- Had the hardest time attracting resources from public and private sources of funding
- Were more vulnerable, with less operating and capital liquidity in hand than larger CDFIs
- Served low-income, low-wealth, or traditionally under-resourced communities and populations
Grant Terms
The COVID-19 CDFI Grant Program awarded a total of $4.9 million in unrestricted grants. Applicants had to have 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 could be used for operations, loan capital, loan loss reserve, or any other purpose.
Awardees
The list of awardees is:
- AAFE Community Development Fund, Inc.
- Access Plus Capital
- ACT! Albany Community Together, Inc.
- AEDC
- African Development Center
- African Economic Development Solutions
- Akiptan
- Appalachian Community Capital Corporation
- ASSETS
- Baltimore Community Lending
- Beaufort County Black Chamber of Commerce
- Brazos Valley CDC, Inc.
- Bridge Investment Community Development Corporation
- Greenwood Archer Capital
- Chi Ishobak, Inc.
- Children’s Investment Fund
- Corporacion para el Financiamiento Empresarial del Comercio y de las Comunidades
- Enterprise Development Fund of Erie County
- Entrepreneur Works
- First Children’s Finance
- FORGE Community Loan Fund
- Four Bands Community Fund
- Four Directions Development Corporation
- Harlem Entrepreneurial Fund, LLC
- Hartford Community Loan Fund, Inc.
- Hmong Wisconsin Chamber of Commerce, Inc.
- IMPACTO Fund, Inc.
- JARI Growth Fund, Inc.
- Just Community
- Kentucky Habitat for Humanity
- La Fuerza Community Development Corporation
- Lake Superior Community Development Corp
- Landmarks Community Capital Corporation
- Latino Economic Development Center (MN)
- Legacy Redevelopment Corporation
- Lei Hoolaha
- LHOME CDFI
- Local Enterprise Assistance Fund
- Lummi Community Development Financial Institution
- Maryland Capital Enterprises, Inc.
- Micro Enterprise Services of Oregon
- NACDC Financial Services, Inc.
- Nakoda-Aaniiih Credit Agency
- Native360 Loan Fund, Inc.
- Neighborhood Development Center
- Neighborhood Housing Services of San Antonio
- Northside Community Development Fund
- Northwest Native Development Fund (NNDF)
- Opportunity Resource Fund
- Pennsylvania Assistive Technology Foundation (PATF)
- People, Inc. Financial Services
- People Trust
- Redbud Financial Alternatives, Inc.
- Rising Tide Community Loan Fund
- River City Capital Investment Corp.
- Center for Rural Affairs Community Capital
- Shared Capital Cooperative
- Solita’s House Inc.
- Southern Mutual Financial Services, Inc.
- Southwest Georgia United Empowerment Zone, Inc.
- Triple Bottom Line Foundation (TBL Fund)
- True Access Capital Corporation
- Utica Industrial Development Corporation
- Venture North Funding & Development
- Westminster Economic Development Initiative, Inc. (WEDI)
- Wind River Development Fund
- Wisconsin Native Loan Fund, Inc.
- Women’s Economic Ventures
- Woodlands Community Lenders
- Working Solutions