Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Olamina Fund deploys first $14.5 million to Black, Native and rural lenders



ImpactAlpha, May 20 – The $40 million Olamina Fund fund was launched by Candide Group in November to address a persistent lack of capital in low-income communities as well as the few financial institutions that serve them.

In its first six months, it has made low-interest loans to five lenders, including Oweesta, a community development financial institution, or CDFI, serving Native populations and UP Community Fund, a Black-led organization that lends to entrepreneurs of color in the southeast. 

The COVID pandemic has only underscored Olamina’s mission. It was part of a group of family offices that rushed capital to CDFIs Hope Credit Union and Rural Community Assistance Corporation in April to expand their capacity to offer loans via the federal Paycheck Protection Program. 

With zero-interest loans and deposits, wealthy families rush capital to rural lenders and impoverished communities

 

The Olamina Fund also extended a six-month interest payment deferment option for all of its borrowers, allowing them to be flexible, in turn, with their own borrowers. 

Investors that demonstrate flexibility and patience prove catalytic in COVID crisis

You might also like...