The Weinberg Foundation recently announced $7.5 million in grants to three Community Development Financial Institutions (CDFIs) as part of the Foundation’s long-term COVID-19 response, which is focused on meeting the increased demand by direct services nonprofits for accessible and affordable loan funds.
There are many communities, particularly communities of color, whose residents’ aspirations cannot be fully realized due to systemic, long-term disinvestment. CDFIs provide loans and financial services tailored to these communities where conventional financing is typically unavailable or unaffordable. These institutions are critical to supporting economic opportunity by investing in nonprofit organizations such as local health centers, schools, and community centers; supporting Black, Indigenous and People of Color (BIPOC)-owned businesses; and expanding affordable housing options.
To learn more about this new grantmaking space, click here.
Learn more about how the Foundation and CDFIs are accelerating new ways of lending, financing, and investing in Hawai‘i in this Hawai‘i Business Magazine story.
