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28 CARS™-Rated CDFIs Awarded Grants from Create Jobs for USA Fund
Top-Rated Responsible and Transparent CDFIs Receive First-Round Grants from Prestigious New Initiative Launched by Starbucks and Opportunity Finance Network®
November 14, 2011
Contact: Stefanie Arck For Immediate Release
Opportunity Finance Network
sarck@opportunityfinance.net
215/320-4306
Philadelphia, PA, November 9, 2011—CARS™, the CDFI Assessment and Ratings System, is pleased to announce that 28 of its top-rated CDFIs are the first recipients of capital grants from Starbucks and Opportunity Finance Network’s (OFN) Create Jobs for USA program. Only a subset of the highest CARS™-rated community development financial institutions (CDFIs) received invitations to apply in the initial funding round.
“RCAC is very excited to have been selected as an initial grantee for the Create Jobs for USA fund. Our loans from this grant will focus on creating and maintaining jobs throughout the rural west,” said Michael Carroll, Loan Fund Director for Rural Community Assistance Corporation, a nonprofit CDFI that provides community development services for rural and Native American communities, agricultural workers, and community-based organizations. “And we know that having the CARS™ rating was a key factor in our selection.”
To read the full release, which includes a complete list of first-round Awardees, along with the markets they serve >>
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