Product terms:

The Opportunity Finance Network, with a $10 million investment from Bank of America, will finance CDFIs, which in turn will use the proceeds for business financing in their local communities. The primary product available is a senior loan with terms ranging from five to ten years, and interest rates ranging from 4.25% to 5.00%. The Opportunity Finance Network will discuss other products with CDFIs.

Eligibility:

To be eligible for financing, CDFIs must:

1. Have a primary mission of community development and/or serve economically disadvantaged people and communities.

2. Have a track record of at least two years of community development financing.

3. Be an Opportunity Finance Network Member (application process is easy and can take place during the underwriting process).

4. Be located in one of Bank of America's assessment areas throughout a 32-state area (full list of assessment areas is available).

If you are interested in investment opportunities in this product, please contact Pat Barford, Financial Services at pbarford@opportunityfinance.net or 215.320.4342.