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Finance Fund

17 South High Street
Suite 900
Columbus, OH 43215
USA

Contact: James R. Klein, CEO
Phone: (614) 221-1114
Fax: (614) 221-7493
URL: www.financefund.org
Email: info@financefund.org
Finance Fund

Finance Fund is a statewide nonprofit financial intermediary working to enable progress and inspire change within Ohio's low-income communities. By building bridges to economic development and community revitalization, we aim to create opportunities that make a better quality of life possible.

Working primarily within low-income rural and urban communities, we connect local community development organizations and small businesses with needed funding in the form of grants, loans and nontraditional financial products. These resources support a wide range of projects, including:
  • Affordable Housing
  • Child Care and Early Learning Facilities
  • Small Business Entrepreneurship
  • Community Facilities
  • Commercial Revitalization

Program



Client Population



Impact

Since 1987, the Finance Fund has invested more than $96 million in housing, economic development, childcare and Head Start projects leveraging over $759.9 million. This investment was accomplished through 2,457 awards to community-based organizations throughout the state as part of Finance Fund's core programs. Partnerships have enabled low-income persons access to 15,312 units of affordable housing, 8,991 full-time jobs, and 3,033early care and education spaces (classrooms) for 69,377 children benefiting the lives of over 116,000 Ohioans.

Story

Finance Fund
East Central Ohio Housing Network, Inc. and Commonwealth Capital Corporation proposed the construction of a 76-unit apartment building for the low-income elderly to be named Heritage Village in Steubenville, Ohio. The $3.8 million financial package consisted of Low-Income Housing Tax Credit equity, a public grant from the State of Ohio, and a private first mortgage loan. The organization and the first mortgage lender partnered with the Ohio Community Development Finance Fund’s Linked Deposit Fund (see Programs) to reduce the interest rate to 5.3% on Heritage Village’s 15-year mortgage. Full Story

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