Citigroup is teaming up with two organizations to start a $200 million lending program for small businesses in low-to-moderate income communities across the country.
Citigroup is putting up $199 million, with the Calvert Foundation, a Bethesda-based nonprofit community investment organization, and Opportunity Finance Network, an umbrella group for community development lenders, providing the rest.
The Communities at Work Fund, to be announced Wednesday, will make loans through community development loan funds at a rate of 4.3 percent, which will then lend to small businesses at a rate of about 6 to 8 percent, said Mark Pinsky, chief executive of the Opportunity Finance Network.
August 29, 2009, Telegraph — An emerging model, known as venture philanthropy, aims to boost the productivity of an often bloated and inefficient third sector, using venture capital techniques of due diligence, ongoing engagement and rigorous performance measurement.
LOS ANGELES, August 19, 2009 — Financial literacy nonprofit Operation HOPE today announced the release of HOPE Founder John Hope Bryant’s latest book, “Love Leadership: The New Way to Lead in a Fear-Based World,” out this month by Jossey-Bass, which outlines his key to success and offers solutions to empowering communities by “leading with love.” Designated proceeds from book sales will go towards the organization’s “silver rights” mission to empower the underserved.
NEEDHAM, Mass., August 5, 2009 — AccuFund, Inc., provider of financial reporting and accounting software for nonprofit, municipal and government organizations, today announced its partnerships with Public Sector Group LLC and NWBS Consulting, two valued-added resellers (VARs) of accounting and financial management systems to the public and nonprofit sectors. These new business partners will expand market reach for the AccuFund Accounting Suite in the Midwestern and Northwestern United States, while providing their clients with AccuFund's powerful accounting functionality and comprehensive customer support.
WOBURN, Mass., June 8, 2009 — DiCicco, Gulman & Company LLP (DGC), a CPA and business consulting firm specializing in the accounting and financial matters of private companies, is proud to announce the launch of a pro-bono program that will provide local nonprofit organizations with project support related to their accounting and financial service needs.