Blog
Community-Centered COVID-19 Recovery Program
April 28, 2020
The economic impact of COVID-19 has been unprecedented and is crushing community-based organizations. Smaller, community-level organizations – many of which operate in low income communities and are led by people of color – were already suffering from decades of discrimination prior to COVID, resulting in lack of access to affordable capital and an insufficient safety net.
If we do not intentionally create the right resources for these community organizations this crisis will widen the racial wealth gap, worsen outcomes for low-income and low-wealth communities, and wipe out an entire segment of our economy.
Alongside the Community Reinvestment Fund (CRF) and other national and local CDFIs, we have prepared a strategy for a Community-Centered COVID-19 Recovery Program, a collaborative effort to increase access to capital and support for community-based businesses and nonprofits served by CDFIs across the country. This targeted recovery effort brings together aligned organizations with complementary capabilities across sectors including CDFIs, banks, public sector partners, and philanthropy.
To learn more about our program, watch our recent webinar.
If you’re interested in getting involved and you’re in the public sector, at a bank/institution, or a philanthropy, contact Beth Bafford at bbafford@calvertimpactcapital.org.
If you’re at a Community Development Financial Institution (CDFI) or a community lender, please contact Patrick Davis at patrick@crfusa.com.
For more general information, go to CRF's Community-Centered COVID-19 Recovery Program webpage.
