Supported by the Annie E. Casey Foundation
Atlanta and its residents have been hit hard by complex economic realities. The quality of housing in its poorest neighborhoods is among the worst in the U.S. and affordable financing opportunities are virtually non-existent, the result of more bank failures in Georgia than in any other state in the country.
To help bolster the role of CDFIs in Atlanta and strengthen their individual and collective abilities to provide more opportunity in this underserved area, during 2012 OFN designed and facilitated Teaming Up Atlanta, an initiative that brought together CDFIs based in or serving the Atlanta area. As a group, they worked together to continue to improve the quality of life in the city.
Through Teaming Up Atlanta the group identified three top priorities for the initiative:
- Create a formalized referral network to promote collaboration among CDFIs serving Atlanta;
- Build the capacity of small business lenders; and
- Develop a capitalization strategy focused on bringing more capital to Atlanta.
Collectively, the group created a Profile Book that outlines the products and services, target markets, and organizational missions of the CDFIs and CDFI partners serving Atlanta. The book was designed to act as a resource to educate borrowers about CDFIs, as a referral resource for other CDFIs, and also to inform banking, government, and philanthropic partners about CDFIs in Atlanta.
Read more about Teaming Up Atlanta in this article that summarizes the initiative.
Thank you to the following CDFIs for your commitment to this effort: Credit Union of Atlanta; Access to Capital for Entrepreneurs (ACE); Atlanta Micro Fund; Enterprise; NCB Capital Impact; Self-Help; Center for Financial Independence and Innovation; and NeighborWorks.
In addition, Teaming Up Atlanta has benefited from the active involvement of the Federal Reserve Bank of Atlanta and Sustainable Neighborhood Development.