Finance Fund

Finance Fund develops real estate, including affordable residential units as well as commercial and mixed-use housing located in low- and moderate-income communities. Additional real estate services offered include planning and development, technical assistance, financial modeling, and construction management. Finance Fund also invests in organizations that advance the physical and economic development of low- and moderate-income neighborhoods and communities. As a community development entity, Finance Fund utilizes tax credits to finance businesses and projects located in Ohio’s most severely distressed urban and rural communities. Additionally, Finance Fund provides competitive grants to community-based non-profit organizations seeking to develop self-sustaining affordable housing and other private sector job-creating projects. As a Community Development Financial Institution, Finance Fund provides flexible financing and technical services to businesses and nonprofit organizations located in low- and moderate-income communities. Finance Fund financing supports small business owners, non-profits organizations, community facility operators, and other affordable housing developers. To date, Finance Fund and its subsidiaries have invested more than $491.5 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 $2 billion of additional investment. Finance Fund has accomplished this total investment by awarding 3,057 grants to community development corporations and other community-based organizations and by making over 106 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 21,624 permanent jobs, and the creation of 13,797 construction jobs; the construction and development of 4,996,254 square feet of manufacturing and industrial space, 413,169 square feet of healthy food retail space, and 10,759,722 square feet of community facilities space serving 74,438 students and 236,474 patients; and creating 18,507 total housing units. Finance Fund made its first loan in 2006 and has provided flexible financing totaling $64.7MM to 105 borrowers, leveraging $182.4MM of additional investments. FCAP has financed businesses and projects that have created and/or retained 4,341 direct jobs, developed 622 housing units and 1,136,730 square feet of commercial space, and served 578,339 people.