Loan fund to help advance social, economic, and racial justice in communities experiencing poverty and disinvestment
Columbus, OH (February 25, 2022) – To help accelerate the work of supporting underserved small businesses throughout Ohio, ECDI has received a $3.25 million award from the Finance Justice Fund, a program of the Opportunity Finance Network (OFN).
OFN’s Finance Justice Fund was created to support Community Development Financial Institutions (CDFI). The Funds are investments of over $1 billion in capital from corporate and philanthropic partners to individuals and communities, particularly to Black, Latinx, Indigenous, and rural communities, that are most underserved by mainstream finance.
This loan from the OFN Finance Justice Fund will help ECDI continue and aggressively increase our support for those who face systemic and historical disinvestment, poverty, and barriers to capital access. “Our mission is to invest in people to create measurable and enduring social and economic change.” Inna Kinney, Founder and CEO of ECDI explains, “We are so honored to be awarded these national dollars to invest in Ohioans who experience systemic barriers.”
OFN President and CEO, Lisa Mensah, emphasized that the goal is help address long-standing issues of disinvestment, the racial wealth gap, and persistent poverty in our country. “CDFIs, like ECDI, as well as Finance Justice Fund partners and investors are helping to advance social, economic, and racial justice one loan at a time.” She said.
For information, please visit: ofn.org/finance-justice-fund