Funding For The Future
Finance Fund is a statewide non-profit 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:
- Affordable housing construction or rehabilitation
- Community facilities
- Health care facilities and equipment
- Small business
To date, Finance Fund and its subsidiaries have invested more than $411.7 million into a wide range of projects throughout Ohio’s underserved communities involving economic development, community facilities, manufacturing and industrial facilities, healthy food retail and distribution, and affordable housing, leveraging more than $1.7 billion of additional investment. Finance Fund has accomplished this total investment by awarding 2,985 grants to community development corporations and other community-based organizations and by making over 81 loans and equity equivalent products to for-profit businesses and nonprofit organizations. Finance Fund’s investments have created important community impacts including: the creation and/or retention of 19,457 permanent jobs, and the creation of 11,577 construction jobs; the construction and development of 4,051,029 square feet of manufacturing and industrial space, 298,519 square feet of healthy food retail space, and 10,229,701 square feet of community facilities space serving 74,180 students and 227,474 patients; and creating 17,273 total housing units.
Finance Fund Capital Corporation (FCAP) made its first loan in 2006 and has provided flexible financing totaling $47.5MM to 88 borrowers, leveraging $138.4MM of additional investments. FCAP has financed businesses and projects that have created and/or retained 4,125 direct jobs, developed 314 housing units and 993,128 square feet of commercial space, and served 388,278 people.
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