During the 2020 pandemic, the Collaborative members pivoted to introduce new and evolving financial products including loans and grants as well as increased technical assistance to assist small businesses impacted by COVD-19. Several of the CDFIs, BOI and Bankable, deepened their partnership to administer the Indy Chamber’s Rapid Response loan. LISC also received approval to reallocate a portion of the JP Morgan Chase award to its Small Business Recovery Grant for Minority, Immigrant and Women-owned Businesses program through which $5000 grants were deployed to small businesses with fewer than 10 employees.
CDFI Colloborative
Collaborative Pivots During Pandemic
Updated: Aug 20, 2021
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