For the second year in a row the US Treasury Community Development Financial Institution (CDFI) Fund has made an award to the Cooperative Fund. This year’s award will help capitalize and deploy the Cooperative Capital Fund (CCF) and provide technical assistance funds for CFNE’s launch and marketing of the new patient capital, equity-like loan product called the Cooperative Capital Fund. For more information on CCF see www.coopcapital.coop.
The CDFI Fund invests in certified CDFIs that demonstrate they have the financial and managerial capacity to: 1) provide affordable and appropriate financial products and services that positively impact their communities; 2) be viable financial institutions; and 3) use and leverage CDFI Fund dollars effectively. Only 68 organizations nationwide received the $27 million allocated.
For more information on the award see www.cdfifund.gov.