The Latino Economic Development Center (LEDC) has received a grant and a low-interest loan from the Opportunity Finance Network (OFN) to help LEDC boost their lending program in underserved communities. The grant will be used to implement OFN’s Finance Justice Fund, which aims to provide critically needed support to community development financial institutions (CDFIs) to support access to capital for communities that have traditionally experienced disproportionately high rates of poverty and disinvestment through the US.
“I am pleased to announce Latino Economic Development Center as a Finance Justice Fund awardee. CDFIs like LEDC demonstrate their commitment to address problems resulting from disinvestment, systemic racism, and persistent poverty,” said OFN Chief Financial Officer Beth Lipson. “With this much-needed capital, our Finance Justice Fund partners will help advance social, economic, and racial justice — one loan at a time.”
Launched by Opportunity Finance Network (OFN) in 2020, the Finance Justice Fund is a socially responsible investment that aims to bring $1 billion in capital from corporate and philanthropic partners to individuals and communities in America most underserved by mainstream finance. The goal of the Finance Justice Fund is to drive affordable, responsible capital to Black, Latino, Indigenous, and rural communities. For a full list of Fund partners and awardees, please visit OFN’s Finance Justice Fund page.
