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:
- 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 $354.4 million in housing, economic development, and community facility projects leveraging over $1.4 billion. This investment was accomplished through 3,043 awards to community-based organizations throughout the state. Finance Fund provides debt and equity to our clients through the management of 29 entities totaling $280 million. Our partnerships have enabled low-and moderate-income people access to 16,390 units of affordable housing, 27,671 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 197,793 Ohioans.
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