Kresge Invested $16 in Loans toward CDFIs and DFAs
The Kresge Foundation deepened its commitment to building resilient communities with $16 million in new impact investments toward nine Community Development Finance Institutions and Development Finance Agencies throughout the United States. The funding comes from the Kresge Community Finance, an initiative focused on expanding opportunity for low-income people living in cities and allowing the recipient community lenders to build up their equity to be more effective. Kresge pairs standardized loans with equity grants. This was Kresge’s second financing round from a total $30 million in community investments.