Four leading community development financial institutions (CDFIs) are competing for $8.25 million in grants and low-cost, long-term loans. Winners of the NEXT Awards for Opportunity Finance must have innovative strategies to expand housing opportunities such as preventing foreclosure, improving energy efficiency, providing affordable mortgages in a scalable way, and expanding small multi-family projects. The finalists are the Florida Community Loan Fund, Home HeadQaurters, New Jersey Community Capital, and the Rural Community Assistance Corporation. Awardees will be chosen in September. MacArthur is providing $5 million of program-related investment capital to Opportunity Finance Network, which will be awarded to up to three of the finalists who applied under the theme of “The Future of Housing Finance.”
