OFN announced the launch of the new Finance Justice Fund on November 12 during the final day of the 2020 OFN Conference. The Finance Justice Fund is a socially responsible investment that aims to bring $1 billion in capital from corporate and philanthropic partners to individuals and communities underserved by mainstream finance across America.
OFN also announced the Fund’s first corporate investor: Twitter! Ned Segal, CFO for Twitter, joined Lisa Mensah, OFN president and CEO, for a conversation during last week’s OFN Conference. Watch their conversation to hear what motivated Twitter to invest in the Fund.
Twitter is committing $100 million to the Fund for long-term, low cost loans and making a $1 million grant and ongoing contributions to support the Fund and the disbursement of loans. The Finance Justice Fund will help address long-standing disinvestment issues, the racial wealth gap, and persistent poverty in America.
The Finance Justice Fund will accept applications from OFN member CDFIs starting in December. Please contact Amir Kirkwood, OFN’s chief lending and investment officer, if you have any immediate questions. However, OFN will provide more details to our membership once we are ready to accept applications.