Grant Program Funded by Google.org

Overview

OFN launched this grant program with funding from Google.org to provide critically needed funds to CDFIs lending to businesses in the most financially underserved communities across America. These grants enabled member CDFIs to offer lower cost, more flexible loan products, and build capacity to support both the short-term recovery and long-term financing needs of the small businesses they serve, including nonprofits.

OFN awarded $8.5 million in grants on a rolling basis to member CDFIs in conjunction with a new loan or loan renewal from OFN. Awardees used grant proceeds for operations, loan capital, loan loss reserves, capacity building, or other purposes that supported the objectives of the grant programs.

Are you a small business looking for funding? Visit About CDFIs for Prospective Clients to learn more about finding and working with a CDFI that fits your needs.

Featured Program Impact

Clara Hoyos and Cesarfina Cardona, CommunityWorks clients

Sisters Clara Hoyos and Cesarfina Cardona

Raised in Colombia, sisters Clara Hoyos and Cesarfina Cardona have been serving South Carolina’s Upstate as seamstresses through their local alterations stores for nearly two decades. When the sisters needed funding to keep their businesses afloat amid COVID-19, they each received a PPP loan from CommunityWorks, which allowed them to keep their doors open.

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Awardees

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