Community Benefit Financial Company Emergency Fund
In response to COVID-19, the Otto Bremer Trust (OBT) established a $50 million emergency fund through its Community Benefit Financial Company (CBFC) subsidiary to provide financial support to Minnesota, Wisconsin, North Dakota, and Montana nonprofits and other community organizations impacted by and responding to the pandemic.
The emergency fund has already distributed grants and loans to more than 300 organizations in our four-state region of Minnesota, Montana, North Dakota, and Wisconsin.
The civil unrest stemming from the killing of George Floyd and the growing awareness and distress over the racial inequities in our society have put even more pressure on vulnerable members of our communities. OBT is therefore broadening the scope of the emergency fund to reach further and deeper in support of those most in need.
This second phase of work by the fund will focus on deploying capital to rebuild community assets, such as damaged infrastructure, small businesses hurt by the economic crisis, and investments to replace or retain critical services. We will do this by assembling a network of intermediaries, including community development financial institutions (CDFIs), community development corporations (CDCs), and other lenders in OBT’s four-state region who can efficiently deploy capital in accordance with the fund’s stated purpose.
If you are a CDFI, CDC, or other lender in Minnesota, Wisconsin, North Dakota, or Montana, particularly those focused on serving vulnerable and underserved populations, and are interested in partnering with CBFC on this important work, please visit CBFC Emergency Fund for Lending Partners for more information.
If you are a nonprofit organization in Minnesota, Wisconsin, North Dakota, or Montana seeking direct emergency funding from CBFC, please visit CBFC Emergency Fund for Nonprofits for more information.
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