Opportunity Finance Network

❗Last day to save on registration for ! Join us to celebrate our industry’s past, reflect on four decades of growth, change, and impact, and prepare for the future. https://bit.ly/3Mz7mZ1

The 2024 OFN Conference

OFN member, Community Health Center Capital Fund Capital Fund, played a pivotal role in helping San Fernando Community Health Center transition to solar energy. This project not only lowers energy costs but also ensures that healthcare providers in underserved communities can continue delivering essential services sustainably.

Learn more about the impact: https://www.ofn.org/impact-stories/california-primary-care-center-promotes-environmental-health-with-cdfi-support/

California Primary Care Center Promotes Environmental Health With CDFI Support Learn how a California health center mitigates its climate impact and promotes environmental health through innovative energy solutions.

Missed our recent CCIA 101 webinar? No worries! We’ve got all the insights you need on GGRF and our upcoming initiatives. Catch up with our updated FAQs and resources to stay informed. https://www.ofn.org/blog/ofn-announced-final-ggrf-award-whats-next/

Are you going to be at ?

Don't miss Thursday's afternoon plenary, "Narrative Revolution: Paving Paths to Prosperity." OFN President and CEO Harold Pettigrew, Black Bird Strategy Group CEO Latresa McLawhorn Ryan, and Justice for Migrant Women Founder and President Monica Ramirez will discuss the power of narrative change in advancing economic mobility and explore how storytelling can reshape perceptions, dismantle barriers, and drive systemic change.

Hope to see you there!

kicks off today! 🚀Join us and our inspiring speakers over the next three days to engage in meaningful discussions as we work collectively to create opportunities for financial stability, wealth, and prosperity for everyone.

will bring together 2,500 community development finance practitioners and partners from across the country, October 21-24. Register now! https://www.ofnconference.org/event/2024/summary

As we honor the contributions of workers this Labor Day, it's crucial to also reflect on the quality of jobs being created. At OFN, we believe that small businesses are key to strong local economies, but we must also focus on ensuring that the jobs created offer fair wages, growth opportunities, and a sense of purpose. CDFIs work with business owners to elevate job quality and advance equity in our communities. Together, let's build an economy where every worker thrives.

As OFN builds the infrastructure we need to deepen our impact and scale the community development finance industry in the years ahead, we invite you to apply for open OFN positions. This is an opportunity to be part of our growing, diverse, and collaborative team. If you're excited about any of these opportunities, we can't wait to hear from you!

https://www.ofn.org/blog/were-hiring-climate-finance-jobs-and-more-apply-now/

With a new Congress comes new opportunities for the CDFI industry! 74 seats are up for grabs in the Senate and House this election cycle. As we welcome new policymakers, advocacy is more important than ever to highlight the impact of in communities across the nation. Let's get ready to build strong relationships and drive positive change!

https://www.ofn.org/blog/look-ahead-what-119th-congress-could-mean-for-cdfis/

Look Ahead: What the 119th Congress Could Mean for CDFIs As state, local, and national elections loom, OFN takes a look at how shifts in the political landscape could impact CDFIs nationwide.

Securing pre-development financing is a critical challenge for underrepresented developers. Foya Development Group, led by Adenah Bayoh, overcame this hurdle with support from Low Income Investment Fund’s Black Developer Capital Initiative. This capital not only accelerated project timelines but also empowered Adenah to explore new, innovative housing solutions.

Learn how like LIIF are leveling the playing field for the next generation of Black developers. https://www.ofn.org/impact-stories/nj-developer-offers-affordable-housing-solutions-with-cdfi/

Join us as we celebrate Mill Cities Community Investments + Foundation for Business Equity during and explore Glynn Lloyd’s insights on the future of community development.

https://www.ofn.org/blog/massachusetts-cdfi-tackles-wealth-gap-through-access-to-capital/

You’ve likely heard the exciting news—OFN was officially awarded a $2.29 billion grant under the U.S. Environmental Protection Agency (EPA) CCIA program, part of the GGRF. This historic capital will revolutionize community development finance for clean energy. Learn more about our journey and what's next! https://www.ofn.org/blog/ofn-announced-final-ggrf-award-whats-next/

Dafina Williams, OFN’s Executive VP, Chief Public Policy Officer and Head of Government Affairs, applauds the Senate’s funding proposal, highlighting the essential role play in supporting small businesses, affordable housing, and local investments. Let's continue to support economic growth and opportunities for all! Learn more:

Senate Appropriations Committee Recommends Increased Budget for CDFI Fund Members of the Senate continue to advocate for the CDFI Fund, passing a fiscal year 2025 spending bill that allocates the Fund $354 million.

Healthcare and sustainability go hand in hand. Thanks to the support of OFN member Community Health Center Capital Fund, San Fernando Community Health Center has adopted solar-plus-storage systems, reducing their carbon footprint and enhancing resilience in underserved communities. This is how CDFIs are leading the charge towards a greener, healthier future. 🌱

Learn more: https://www.ofn.org/impact-stories/california-primary-care-center-promotes-environmental-health-with-cdfi-support/

California Primary Care Center Promotes Environmental Health With CDFI Support Learn how a California health center mitigates its climate impact and promotes environmental health through innovative energy solutions.

Adenah Bayoh of Ihop Foya Foods’ journey from emigrating from Liberia to becoming a successful real estate developer in Newark, NJ, is a testament to resilience and community empowerment. Her firm, Foya Development Group, focuses on providing affordable housing to historically excluded communities. With the support of OFN member Low Income Investment Fund's Black Developer Capital Initiative, Foya is scaling its impact in the affordable housing sector.

Read more about how Adenah is transforming communities and fostering economic inclusion.

“Certainly, corporations, philanthropy and other institutions are starting to understand that for impact and economic power, CDFIs are those independent channels they are looking for, especially in recent years,” Harold Pettigrew said. “I think performance matters, right? I think ultimately what you’re seeing is recognition that, as an industry, we know how to get it done.”

Glenn Gamboa's latest AP News article explores the impact and legacy of racial equity pledges over the past decade. Donations surged after the deaths of Michael Brown Jr. (2014) and George Floyd (2020), he reports, but have since dwindled.

With their massive resources, corporations could be champions of racial equity but often waver A Missouri nonprofit founded in 2015 to help address the issues that contributed to the police shooting death of Michael Brown Jr. and the riots that followed has faced the same lament many philanthropies face.

OFN is growing! With an influx of capital and visibility to , we welcome four new executives who will strengthen our leadership. Join us in welcoming Jessel Amin, Tony Berkley, Kevin Fryatt, and Brendon Miller. Check out their Q&A to learn more about their vision for OFN.

https://www.ofn.org/blog/meet-new-executives-ofn-scale-impact-and-shape-future/

As we honor , we turn our focus to Mill Cities Community Investments + Foundation for Business Equity (MCCI), the first Black-led CDFI in Massachusetts. Led by Executive Director Glynn Lloyd, MCCI has been a vital force in providing affordable financing to low-to-moderate-income individuals and communities. Learn more about Lloyd’s vision, the challenges facing the industry, and the opportunities ahead.

https://www.ofn.org/blog/massachusetts-cdfi-tackles-wealth-gap-through-access-to-capital/

Senator Van Hollen and Senator Bill Hagerty emphasize the importance of the CDFI FUND in creating an inclusive economy and securing critical investments. With federal financing set to expire soon, it's crucial to support the Senate's proposed funding level. Contact your representatives today! Learn more:

Senate Appropriations Committee Recommends Increased Budget for CDFI Fund Members of the Senate continue to advocate for the CDFI Fund, passing a fiscal year 2025 spending bill that allocates the Fund $354 million.

Exciting news! OFN was officially awarded a grant for $2.29 billion under the U.S. Environmental Protection Agency's Clean Communities Investment Accelerator program, part of the $27 billion Greenhouse Gas Reduction Fund.

This is the moment that OFN and CDFIs are made for. The responsibility of this initiative has been placed on the shoulders of community lenders, and we look forward to working alongside our network, the EPA, and all awardees to ensure this program is successful.

The GGRF will reduce emissions, build a clean economy, lower energy costs for American households and businesses, create good-paying jobs, and advance environmental justice. This program is essential in ensuring no community is left behind through the clean energy transition. https://bit.ly/46Q4NLB

Opportunity Finance Network Finalizes $2.29 Billion Award to Finance a Clean and Just Energy Transition OFN was officially awarded a grant under the Environmental Protection Agency’s Clean Community Investment Accelerator program.

We are excited to introduce Jessel Amin, Tony Berkley, Kevin Fryatt, and Brendon Miller as the newest executives at OFN! Their diverse backgrounds and commitment to our mission will help drive impact in communities across the country. Read their insights on why they joined OFN and their vision for the future.

https://www.ofn.org/blog/meet-new-executives-ofn-scale-impact-and-shape-future/

We're kicking off OFN40 the evening of Monday, October 21, with special 40th anniversary programming and a celebratory reception. Join us earlier in the day for optional pre-conference activities such as the Native Gathering, a new Research Symposium, trainings, and tours. Register by September 6 to save $100 on registration fees!

The 2024 OFN Conference

The Senate has proposed a budget that not only surpasses the House's allocation and President Biden’s request but also includes crucial investments for the Bond Guarantee Program and Native CDFI Assistance Program. This funding is vital for empowering underserved communities! Learn more:

Senate Appropriations Committee Recommends Increased Budget for CDFI Fund Members of the Senate continue to advocate for the CDFI Fund, passing a fiscal year 2025 spending bill that allocates the Fund $354 million.

Last week, the Senate Appropriations Committee approved its FY25 Financial Services and General Government spending bill, which includes a significant increase for the CDFI Fund.

The bill allocates $354 for the CDFI Fund, a $30 million or 9.3% increase from FY24. This exceeds the $350 million allocation OFN has advocated for — a testament to the strong bipartisan support for the industry in the Senate.

Learn more about recent Senate Appropriations hearing and how you can advocate for funding for the CDFI Fund:

Senate Appropriations Committee Recommends Increased Budget for CDFI Fund Members of the Senate continue to advocate for the CDFI Fund, passing a fiscal year 2025 spending bill that allocates the Fund $354 million.

The countdown to this year's conference, , has officially begun and we’re READY to celebrate 40 years of progress in the CDFI industry. Join OFN in Los Angeles October 21-24 for this historic event filled with insightful sessions and networking opportunities.

Register today and save $100 before September 6: https://www.ofnconference.org?utm_campaign=%23OFN40&utm_source=facebook&utm_medium=Opportunity+Finance+Network&utm_content=20240807

As OFN builds the infrastructure we need to deepen our impact and scale the community development finance industry in the years ahead, we’re looking for talented professionals to join our growing team! Learn more about OFN and our open positions: https://www.ofn.org/work-with-ofn/

Work With OFN Interested in helping underserved communities and people? Apply for a position and start your career at OFN today!

OFN is pleased to see the Federal Home Loan Bank of Dallas launch the CANOPY Fund to provide low-cost, long-term capital to the CDFIs that are members of FHLB Dallas. CDFIs have the unique expertise and experience to drive economic growth in underinvested communities. We look forward to growing our partnership with FHLB Dallas to support affordable housing and community development projects.

Learn more about this initiative:
https://www.businesswire.com/news/home/20240731696441/en/Federal-Home-Loan-Bank-of-Dallas-Launches-35-Million-Loan-Fund-to-Support-Affordable-Housing-and-Economic-Development

OFN is committed to ensuring communities have access to affordable, responsible financial solutions,” said Harold Pettigrew, OFN President and CEO, about Capital One's new $265B Community Benefits Plan.

https://www.ofn.org/blog/ofns-statement-capital-ones-historic-265-billion-community-benefits-plan/

This month, we celebrated Disability Pride Month, a time to honor the history, achievements, experiences, and struggles of the disability community. On July 26, 1990, the Americans with Disabilities Act (ADA) was signed into law, marking the world’s first comprehensive civil rights law for people with disabilities.

Read more: https://www.ofn.org/blog/oklahoma-cdfi-helps-people-with-disabilities/

Oklahoma CDFI Helps People with Disabilities Finance Lifechanging Assistive Technology It's Disability Pride Month! Discover how Oklahoma Assistive Technology Foundation is creating economic justice for people with disabilities.

Treasury’s new program, administered by the CDFI Fund, will provide an additional $100 million over the next three years to support affordable housing financing. OFN will actively engage with Treasury during the program’s design phase.

Stay informed and join us in this crucial discussion! https://www.ofn.org/blog/new-biden-harris-administration-actions-cdfi-financing-affordable-housing/

New Biden-Harris Administration Actions Will Advance CDFI Financing of Affordable Housing Treasury Department announced actions to increase affordable housing supply as part of the Biden-Harris administration's efforts.