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Dear friends,
We’re kicking off this week in New Orleans at the annual Opportunity Finance Network Conference, joining our fellow community development financial institutions to celebrate the impact of CDFIs and map out what comes next for our industry.
The Nectar team is participating in a panel on recoverable grants and their untapped potential to boost CDFIs across the country. As policy shifts and current economic conditions create fundraising pressures for all kinds of nonprofits, these conversations about innovative capital sources are especially important.
After all, here are just a few of the benefits of CDFIs in your community:
- CDFIs make $1 do the work of $8, as we leverage $8 in private sector investment for every $1 in public funding.
- As borrowers repay their loans to CDFIs, we reinvest the money back into the community through new borrowers.
- More than 80 percent of CDFI reach goes into underserved communities, bringing resources to the people and places that need it most.
Over the next few months, you’ll see more in-depth stories here about how Nectar, as a CDFI, integrates into the economic ecosystem and partners with foundations, state agencies and other nonprofits to amplify our impact. We’ll be sure to share what we learn at OFN in the meantime — tune into our social media channels to see how the week goes!
With gratitude,
The Nectar Community Investments team
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