At Finance Fund, we believe that lasting change can occur in underserved communities by investing in people and organizations, projects and businesses that have the potential to provide needed services, create jobs and attract other investment. It's a belief we put into action every day.
Activating potential takes time and diligence. We talk to a lot of people and listen to a lot of ideas. We ask a lot of questions. Then we go to work to simplify the complexities of the financing process for economically viable initiatives. We help our partners see the power and potential of the projects we bring them. We work in partnership to be catalysts for change.
Since 1987, 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 $250 million. Partnerships have enabled low-income people access to 16,168 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, partnerships have helped create and/or retain 2,437 direct jobs.