Also by Reinvestment Fund

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Category: General


Healthy Food Financing Initiative Announces $3 Million Available in Funding
Posted May 20, 2020

Reinvestment Fund is inviting applications for financial and technical assistance through the 2020 round of the Healthy Food Financing Initiative (HFFI) Targeted Small Grants Program. Funding for the HFFI Targeted Small Grants Program is provided by the United States Department of Agriculture (USDA), authorized by the Farm Bill. Reinvestment Fund serves as the national fund manager for the HFFI program at USDA. The 2020 HFFI round significantly increases the available funding compared to the previous round, offering $3 million in grant funds for food retail and food enterprises working to improve access to healthy foods in underserved areas, to create and preserve quality jobs, and to revitalize low-income communities.

“A resilient food system is essential to ensure that all Americans, regardless of where they live or how much they make, can get the food they need to keep their families healthy,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “The COVID-19 pandemic has underscored the need to sustain a robust food system that serves all communities. We hope that these HFFI investments can seed improved access to healthy food in underserved communities and also fundamentally strengthen local food economies.”

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HFFI Funding Round Opens and more
Posted May 19, 2020

Reinvestment Fund is inviting applications for the 2020 round of the Healthy Food Financing Initiative (HFFI) Targeted Small Grants program. The 2020 HFFI round significantly increases the available funding compared to the previous round, making $3 million in grant funds available for food retail and food enterprises working to improve access to healthy food in underserved areas, to create and preserve quality jobs, and to revitalize low-income communities. Funding for HFFI is provided by the United States Department of Agriculture (USDA), authorized by the Farm Bill. Financial assistance is available in the form of direct grants to projects selected through a competitive application process. The program is open to food retail and food enterprises working to improve healthy food access. Read More.

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Supporting Child Care, Small Businesses and more
Posted May 7, 2020

Reinvestment Fund has begun awarding grants to childcare providers, early intervention and home visiting service organizations under the Philadelphia Emergency Fund for Stabilization of Early Education (PEFSEE) program. PEFSEE is a collaboration of the William Penn Foundation, Vanguard’s Strong Start for Kids Program™ and Reinvestment Fund to support Philadelphia childcare providers who are struggling to sustain their businesses and early learning support for families through closures caused by the COVID-19 pandemic. In the month since it opened, PEFSEE has received an overwhelming response with 524 applications to date. PEFSEE has thus far awarded $3.7 million to 271 providers. Of the awardees, 87% are women-owned organizations and 71% are owned or led by people of color. The awards are expected to preserve 2,901 jobs in the sector and maintain spaces for 21,482 children in licensed early learning programs. Reinvestment Fund will announce awards on a rolling basis.

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How you can help in the COVID-19 crisis
Posted April 20, 2020

The communities we serve are feeling the deep financial and social impacts of COVID-19. At Reinvestment Fund, we have been reaching out personally to our borrowers and partners and learning about the specific challenges they face. We’ve also heard from our community of investors that they want to help in a meaningful way.

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Our Response to COVID-19 (Update)
Posted April 9, 2020

Given the significant measures in the U.S. at this time to lessen the spread and impact of COVID-19, Reinvestment Fund has activated its remote work policy for all employees.

During this time, all services are available and employees are accessible through their direct lines or via email during business hours of 9 am to 5 pm EST.

The health and wellbeing of our staff, partners and the communities we serve are our priority and we continue to monitor the situation. Throughout, we continue to partner with stakeholders across the country who are working hard to bring their projects to successful fruition.

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Statement on Proposed Community Reinvestment Act Rulemaking
Posted April 7, 2020

Early in 2020, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) published their proposal for comprehensive amendments to the rules implementing the Community Reinvestment Act (CRA). The following statement is Reinvestment Fund’s response to the proposed changes and was submitted to the OCC as part of our comments.

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Our Response to COVID-19 (Update)
Posted March 16, 2020

Given the significant measures in the U.S. at this time to lessen the spread and impact of COVID-19, Reinvestment Fund has activated its remote work policy for all employees.

As of March 16, 2020, all Reinvestment Fund employees will be working remotely. During this time, all services will be available and employees will be accessible through their direct lines or via email during business hours of 9 am to 5 pm EST.

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Our Response to COVID-19
Posted March 12, 2020

An update on the steps we are taking to ensure the wellbeing of our staff and minimize business disruption

We are carefully monitoring the evolving Coronavirus (COVID-19) situation and are taking steps to ensure the wellbeing of our staff, partners and the communities we serve. As we continue to plan on minimizing business disruption, we’d like to share with you some updates and steps we are taking to manage the potential impact.

Reinvestment Fund has protocols in place for the continuity of operations that take into consideration a fully remote workforce. We have consistently invested in information systems and productivity tools that enable our employees to work and conduct business from anywhere. Our business application infrastructure is fully virtualized and redundant, meaning that the loss of a single physical component does not disrupt service or access to applications needed for operations.

In the coming days, we will be activating a 100% remote policy for all employees to give staff the flexibility they need to care for themselves and loved ones. Throughout, we will continue to partner with stakeholders across the country who are working hard to bring their projects to successful fruition. We have an active pipeline of projects and are fully prepared to continue to close new loans in support of high-impact projects over the next several weeks.

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Atlanta’s Leading Social Impact Fund Invests $1.5 Million in Reinvestment Fund
Posted February 5, 2020

GoATL Fund (GoATL), an impact investment fund launched by the Community Foundation for Greater Atlanta, announced $1.5 million in two investments to Reinvestment Fund. The first investment, $1 million, will expand Reinvestment Fund existing GoATL investment supporting a diverse portfolio of impactful projects throughout metro Atlanta. The second investment of $500,000 will target support to early childhood education (ECE) projects across the region.

GoATL’s investment will help Reinvestment Fund expand its lending to support social outcomes in education, job creation and housing.

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CEOs of Four National CDFI Loan Funds Comment on CRA Rulemaking
Posted January 29, 2020

Oversimplified CRA metrics would damage local responsiveness and lessen social impact

We are deeply concerned by Comptroller Joseph Otting’s proposed changes to the Community Reinvestment Act (CRA), the subject of today’s hearing by the House Financial Services Committee. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have set forth a proposal that must be reevaluated to preserve the fundamental purpose of CRA – to address inequalities in bank lending and to drive investments toward impactful community development activities.

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