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

COVID-19 CDFI Grant Program

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.


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
  • 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
  • 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


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