The Field Empowerment Fund provides flexible funds to members of the National Community Reinvestment Coalition (NCRC) to respond to the economic impacts of the Coronavirus pandemic.
Our goal is to help start and scale-up innovative... Read more
PAYCHECK PROTECTION PROGRAM FIRST DRAW LOANS
SBA is reopening the Paycheck Protection Program (PPP) for First Draw Loans the week of January 11, 2021. First Draw PPP Loans can be used to help fund payroll costs, including... Read more
The 2020 Financial Literacy Annual Report details the Bureau’s financial literacy strategy and activities to improve the financial literacy of consumers. Congress specifically charged the Bureau with conducting financial education programs and... Read more
After months of partisan wrangling, on December 20, 2020, Congressional negotiators finally agreed on a new $900 billion Covid relief package, which includes an additional $284 billion for the Paycheck Protection Program (PPP) for small... Read more
The legacy of systemic racism means many companies still start from behind when competing for financing.
Securing capital is a big challenge for many Black- and other minority-owned businesses. Whether through outright discrimination or... Read more
On December 22, Congress passed a massive $900 billion FY2021 Omnibus Appropriations and COVID-19 Relief Bill that included historic funding for community development financial institutions (CDFIs). President Trump signed this legislation on... Read more
This past July, philanthropist MacKenzie Scott shared an update on her pledge to donate a majority of her wealth. She listed 116 nonprofit organizations – including seven OFN member CDFIs - that her pledge had supported, totaling $1.7 billion.... Read more
Martin Muoto, mutual fund manager and developer in Los Angeles, plans to raise $ 1 billion to invest in black and colored communities in major urban markets.
After the summer, businesses and investors across all segments of commercial real... Read more
GLOVERSVILLE — Housing developers are currently working on construction plans for a single-family home on Forest Street as part of a state affordable housing pilot program that may be expanded into other areas of the city and the state if... Read more
L+M Development Partners, Type A Projects, BronxWorks, and the City of New York have closed on $349 million financing package to complete phase one of Bronx Point, a new mixed-use affordable housing complex in the South Bronx. As a public-private... Read more