NFF Receives $1.653 Million Award from the CDFI Fund

NFF Will Use Award to Support Nonprofits Providing Critical Services to Low-Income People

September 10, 2015— NFF is thrilled to announce that we were chosen to receive $1.653 million in Financial Assistance funds from the U.S. Treasury Department's CDFI Program to help economically disadvantaged communities access financial services. We will leverage this award to provide working capital and facilities loans to mission-driven organizations. As many of these organizations are navigating changed and changing economic environments, shifting community needs, and a lack of access to traditional sources of capital, NFF's financing will look to bolster nonprofits' ability to adapt to a shifting landscape and help them expand or innovate.

"The organizations that will benefit from CDFI financing provide crucial services that improve low-income peoples' lives, but many of these organizations struggle to achieve financial sustainability," said Norah McVeigh, Managing Director of Financial Services at NFF. "This award will equip these organizations with capital to grow or strengthen their infrastructure and, in turn, will improve the lives of the people they serve."

NFF was among a cohort of 152 recipients who received a total of $160,296,627 in financial and technical assistance grants this year. Since 1980, NFF has provided over $575 million in financing and access to additional capital in support of over $1.5 billion in projects for thousands of organizations nationwide.

Since its creation in 1994, the CDFI Fund has provided over $1.4 billion in total awards to mission-driven CDFIs to help economically under-resourced communities access financial products and services. For more information about the CDFI Fund, click here to visit their website.