June 2020

Opportunity Finance Network Directs Google Investment in CDFIs

United States - Pennsylvania

Opportunity Finance Network (OFN) is seeking to raise $1 billion in capital to be invested in the most underserved individuals and communities in America through its Finance Justice Fund, a new socially responsible investment launched in November 2020 and to which Google Endeavor LLC agreed to lend a combined total of $168.75 million. Faegre Drinker represented OFN, a Pennsylvania nonprofit corporation, in the transaction that will provide debt capital to a variety of Community Development Financial Institutions (CDFIs). OFN will act as the administrative agent for the lending deal, which will serve small businesses across the United States, particularly businesses in historically underserved communities impacted by the COVID-19 pandemic.

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