© Medioimages/ Photodisc & LarisaBozhikova/ iStock/ Thinkstock

Impact Seven, a community development financial institution or CDFI, will use this year’s Wells Fargo NEXT Seed Capital Award to preserve affordable housing in rural Wisconsin. Opportunity Finance Network, a MacArthur grantee, announced the $100,000 award would go to Impact Seven for the potential to expand its innovating financing to preserve small, multifamily rental properties. Launched in 2007 with MacArthur support, the NEXT Awards have celebrated the innovation of the most promising CDFIs by awarding more than $58 million through a competitive awards process.

Program-Related Investments, Community Development, Housing, United States