Grant Program Funded by Google.org

Grant Program Funded by Google.org

Status: Past initiative

Funder: Google.org

Overview: OFN launched this grant program to provide critically needed funds to CDFIs lending to businesses in the most financially underserved communities across America. Grants enabled member CDFIs to offer lower cost, more flexible loan products, and build capacity to support short-term recovery and long-term financing needs of small businesses and nonprofits.

Geographic Scope: National (United States)

Focus Areas:

Small business lending in underserved communities

Nonprofit financing

Economic opportunity and development

Building CDFI capacity

Grant Distribution:

Total awarded: $8.5 million

Distributed on a rolling basis

Awarded in conjunction with new loans or loan renewals from OFN

Eligible Uses:

Operations

Loan capital

Loan loss reserves

Capacity building

Other purposes supporting grant objectives

Eligible Applicants:

OFN member CDFIs

Impact:
Grant program supported small and medium-sized businesses during COVID-19 pandemic and beyond. See detailed impact report on OFN website.

Related Resources:

"Increasing Capital and Capacity in America's Communities" - snapshot of Google/Google.org funding impact on CDFIs

Impact stories of small businesses supported through the program