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.
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 non-profit 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 leveraged $92 million on an investment of $38 million to 74 borrowers. FCAP has financed 201 housing units, created 773,566 sq. ft. of commercial space and helped provide services to 9.653 patients. In addition, partnerships have helped create and/or retain 3,261 direct jobs.