Funding For The Future
Finance Fund is a statewide nonprofit financial intermediary that enables the revitalization of economically distressed communities across Ohio.
Established in 1987, Finance Fund connects Ohio's underserved communities with public and private sources of capital. We simplify the complexities of the funding process and manage the flow of millions of public and private dollars to help good ideas come to life—ideas that change systems, create jobs, address community needs and improve the quality of life.
What we do
Our funding programs include predevelopment and economic development grants, urban and rural lending and gap financing to support a wide range of projects such as:
- Small business
- Health care facilities and equipment
- Affordable housing construction or rehabilitation
- Community facilities
To date, Finance Fund and its subsidiaries have invested more than $336.2 million in housing, economic development, and community facility projects leveraging over $1.37 billion. This investment was accomplished through 3,019 awards to community-based organizations throughout the state. Finance Fund provides debt and equity to our clients through the management of 28 entities totaling $280 million. Our partnerships have enabled low-income people access to 16,308 units of affordable housing, 25,928 direct jobs, and 3,079 early care and education spaces (classrooms) for 71,947 children. In addition, partnerships have provided services to 39,830 patients, benefitting the lives of more than 191,595 Ohioans.
Finance Fund Capital Corporation (FCAP) made its first loan in 2006 and has leveraged $55 million on an investment of $24.9 million to 56 borrowers. FCAP has financed 40 housing units, created 483,331 sq. ft. of commercial space and helped provide services to 7,418 patients. In addition, partnership have helped create and/or retain 2,437 direct jobs.
How We Do It
Finance Fund's statewide project portfolio is the result of successful partnerships with innovative clients and visionary funding partners. From state and federal governmental entities and financial institutions to foundations, corporations and wealthy individuals, our partners share our mission. They trust Finance Fund to see the wisdom of supporting viable economic development initiatives that make sense and enliven communities while providing a financial return. They've learned to trust that when Finance Fund brings a project for consideration, it passes all the tests:
- It's what the community wants
- It's high impact
- It's catalytic