Two new partnerships bring IFF financing benefits to Minnesota and areas of Ohio June 1, 2014

IFF continues to expand its reach with affordable, flexible financing for nonprofits by creating the Midwest Lenders Alliance with the Nonprofits Assistance Fund (NAF) in Minneapolis, MN, and the Cincinnati Development Fund (CDF) in Cincinnati, OH. IFF’s long-term, below-market rate loans are available to nonprofits serving low-income and special needs populations throughout Minnesota and in the Greater Cincinnati and Dayton metropolitan areas.

IFF had been working to build partnerships to meet the capital and real estate needs of more nonprofits and disadvantaged communities in the Midwest. Through the Midwest Lenders Alliance, IFF helps smaller community development financial institutions (CDFIs) provide longer-term loans tailored specifically for the needs of nonprofits.

The Midwest Lenders Alliance received funding from the JPMorgan Chase Foundation’s CDFI Collaboratives program, a nationwide $33 million initiative to unite community development financial institutions in fostering economic growth and improving more low-income communities. The innovative program brings together 27 CDFIs to form collaboratives in 21 states across the U.S. Each collaborative focuses on a common community challenge, such as creating affordable housing and improving access to fresh food.