The Weinberg Foundation launched an initiative in 2021 with three community development financial institutions (CDFIs) to help nonprofits quickly access the working capital needed to meet the needs of their communities during the COVID-19 pandemic. In the first year of the Foundation’s investment, these partners served 29 nonprofits (90% led by people of color) and leveraged their grants to provide an additional $27 million in capital to support projects in communities historically excluded from financing.
Program Officer Anne Allen reflects on what these CDFIs have achieved, as well as what we learned along the way.
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