NFF Receives $2.3 Million from the Community Development Financial Institutions Fund
NEW YORK, October 10, 2024 – Nonprofit Finance Fund (NFF) has received $2.3 million from the US Dept of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
NFF will use this Financial Assistance (FA) Award to provide capital to nonprofits including those that provide job training, affordable housing, human services, healthcare, education, and more.
“CDFIs are a vital force for economic development and social progress,” said Aisha Benson, President and CEO of NFF. “We are on the ground in communities across the country, where nonprofits depend on us so they have the financial resilience they need to meet their missions.”
NFF’s work includes providing loans and consulting to nonprofits in communities that have been excluded from mainstream financial systems. Many of these nonprofits are led by and serve people of color. Loans allow nonprofits to weather government payment delays; pursue mission opportunities; and build, buy, improve, or renovate facilities so they can deliver programs that meet community needs. NFF’s relationship-driven approach and consulting expertise help nonprofits make the most of these loans to build long-term financial stability and meet community needs and aspirations.
This is NFF’s 18th award from the CDFI Fund. Previous awards have helped NFF build lending capacity, expand into new regions underserved by mainstream banks, and develop new products to meet the needs of community nonprofits.
“We appreciate the CDFI Fund’s ongoing commitment to CDFIs, like NFF, that provide flexible and responsive capital to disinvested neighborhoods and support community wealth-building,” said Jennifer Kawar, NFF’s Vice President of Investor Relations.
About Nonprofit Finance Fund
Nonprofit Finance Fund®️ (NFF®️) is a nonprofit lender, consultant, and advocate. For more than 40 years, we’ve worked to strengthen nonprofit organizations and improve the way money flows to social good. We believe that alongside others we must build a more equitable and just social sector, and are committed to helping community-centered organizations led by and serving people of color access the money and resources they need to realize their communities’ aspirations. As a community development financial institution (CDFI) NFF manages a portfolio of over $375 million. Since 1980, we have provided over $1.2 billion in financing and access to additional capital in support of nearly $4 billion in projects for thousands of organizations nationwide. To learn more, visit https://nff.org.