Chance Finance Network (OFN) announces $15.5 million in loans to five CDFIs and $750,000 in funds to six CDFIs serving minority and women-owned companies in rural, metropolitan, and Native communities hardest struck by COVID-19
Bing to deliver OFN an extra $50 million in funds centered on the Black-owned businesses that are small
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WASHINGTON /PRNewswire/ — Today, chance Finance system (OFN) announced the very first round of Grow with Bing small company Fund loans and funds from Bing. Five community development banking institutions (CDFIs) have obtained an overall total of $15.5 million in loans. These funds may be implemented to smaller businesses harmed because of the financial effect of COVID-19 and civil unrest. In addition, OFN will circulate $750,000 in Google-funded funds to aid six CDFIs better provide women and minority-owned businesses that are small.
Today in a post, Bing’s CEO Sundar Pichai announced that the business provides OFN one more $45 million in loans and $5 million in Bing funds to help small enterprises, with a consider Black-owned organizations. As a whole, Bing has now committed $170 million in loans and ten dollars million in Bing funds. Continue reading