In August 2018, OFN and HSBC Bank USA established the Good to Grow CDFI Investment Fund (G2G Fund) to expand the flow of capital to small businesses, affordable housing, and community facilities nationwide through equity equivalent (EQ2) investments in OFN member CDFIs. In March 2020, OFN and HSBC Bank fully deployed the $25 million G2G Fund.
In total, 22 OFN member CDFIs active in HSBC Bank’s national retail network each received EQ2 investments of up to $2 million. Cumulatively, the 22 G2G Fund recipients provided financing to more than 345,000 small businesses and microenterprises and helped to create or maintain more than 380,000 jobs, with about 90 percent of clients served considered low-income.
Featured Program Impact
Shelly Marshall is a client of Accompany Capital and co-owner of Brooklyn-based Island Pops ice cream shop with her husband Khalil Hamid. Specializing in Caribbean flavors from her native Trinidad, like sorrel rum, coconut, and honey roasted peanut, Island Pops has become a popular destination after rave reviews in the local press and New York Times.
Learn more about Good to Grow CDFI Investment Fund recipients:
Business Center for New Americans
Community Capital New York
Community First Fund
Community Health Center Capital Fund
Community Loan Fund of New Jersey
(New Jersey Community Capital)
Florida Community Loan Fund
Genesis LA Economic Growth Corporation
Grow America Fund
Leviticus 25:23 Alternative Fund
Main Street Launch
Mercy Loan Fund
PIDC Community Capital
Primary Care Development Corporation
Self-Help Ventures Fund
The Disability Opportunity Fund
Learn about OFN’s past initiatives aimed to help CDFIs increase their impact.