This section features articles posted by our Members and other opportunity finance practitioners, as well as publications of interest to the opportunity finance industry. The contents and opinions of these articles are solely the responsibility of the article authors. We encourage submissions about industry news, milestones, and upcoming events. OFN reserves the right to decline a posting.
FIELD at the Aspen Insititue, in partnership with Justine PETERSEN and with support from the Citi Foundation, is launching the Asset Building through Credit pilot program. Five microenterprise organizations, selected for their experience in delivering credit-building products and services, will test the effectiveness of secured credit cards in building entrepreneurs' credit and connecting them to the formal financial system.
A long-time challenge facing microenterprise programs is how to reach larger numbers of entrepreneurs efficiently despite the distance to a program office. In order to bridge the distance gap, more and more practitioners are providing distance based business development services. The greater availability of computers with high-speed Internet access, and the prevalence of hand-held devices, even among the disadvantaged have facilitated the quick ramping up of these services. And, practitioners are using a range of strategies-from phone and web-based webinar technology to podcasts and social networking.
On August 24, CDFI Fund Director Donna Gambrell joined Senate Appropriations Chairman Daniel Inouye (D-HI) and Representative Colleen Hanabusa (D-HI) at the 10th Annual Native Hawaiian Convention to announce $11.85 million in awards under the Native American CDFI Assistance Program (NACA Program). The 35 Native Community Development Financial Institutions receiving awards are headquartered in 17 states and serve mostly rural communities.
Mark Pinsky will be moderating a roundtable discussion on how community-based financial institutions are an important driver for urban business growth and could be an important way to resolve the challenges that small businesses face in accessing capital. How have Chicago CDFIs helped to grow Chicago’s urban businesses and what can be learned about the future of community-based capital for small business growth
In an announcement ceremony today at the White House, First Lady Michelle Obama announced an innovative healthy food financing initiative – the California FreshWorks Fund. A project of The California Endowment and an all-star team of partners, FreshWorks is a $200 million public-private partnership loan fund created to increase access to healthy, affordable food in underserved communities, spur economic development, and inspire innovation in healthy food retailing.
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund announced on Monday that it will award New Jersey Community Capital (NJCC) $1.5 million in financial assistance to foster revitalization in New Jersey's underserved communities. The Community Loan Fund of New Jersey, Inc.—NJCC's first and largest loan fund—was among 155 CDFIs selected for funding, and was one of three New Jersey organizations to receive an award. 2011 marks the fourth consecutive year in which NJCC has received critical funding from the CDFI Fund.
First Nations Oweesta Corporation and Opportunity Finance Network (OFN) are proud to announce the Sixth Annual Native CDFI Awards, which recognize excellence in the Native CDFI industry.
Oweesta and OFN are accepting nominations for the two award categories, and the application deadline is Friday, July 29, 2011. You may nominate any Native CDFI or individual that meets the eligibility criteria.
The Fedral Reserve Bank of Philadelphia has published audio and video recordings as well as presentations from The Future of the Disability Housing Market conference. The conference was designed for professionals in the community development and disability sectors looking for state-of-the-art tools and approaches to raising capital and developing housing for disabled individuals.
Opportunity Fund CEO Eric Weaver is in Chicago, participating in the first-ever Clinton Global Initiative (CGI) America convening dedicated to helping America's economy and creating jobs. Eric will show how microlending is scaling & producing jobs in California.
Even with the economy looking up, executives at Alle-Kiski Industries worry that 10 years down the line they may face another problem entirely: a shortage of workers.
Tucked away in Leechburg, Alle-Kiski Industries is a thriving machining and fabrication shop that shows a revival in manufacturing since the financial downturn and a success story for the Small Business Administration, which has provided numerous loans to the company.
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