Finance Fund & FCAP
Finance Fund is a Columbus, Ohio-based nonprofit CDFI founded in 1987 that deploys grants, loans, New Markets Tax Credits, and direct real estate development capital to underserved Ohio communities, serving nonprofits, small businesses, healthcare providers, and affordable housing developers.
- Company typePrivate
- Founded1987
- HeadquartersColumbus, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Finance Fund & FCAP does
Finance Fund is a nonprofit community development financial institution (CDFI) founded in 1987 and headquartered in Columbus, Ohio. The organization invests in Ohio's underserved urban and rural communities by deploying patient capital through four primary program lines: Grants (Economic Development and PreDevelopment), Lending (community facilities and construction loans), Real Estate Development (affordable housing and community facilities, often in partnership with organizations such as National Church Residences), and New Markets Tax Credits (NMTC). It combines federal and Ohio state NMTC allocations, conventional loan capital, and grant funding into multi-source capital stacks for projects in healthcare, manufacturing, affordable housing, healthy food retail, and community facilities. Notable deployments include $27.56M for APackaging Group, $15.56M for Kroger, and direct acquisitions of affordable housing properties such as Carpenter Hall.
Finance Fund Capital Corporation (FCAP) operates as a wholly-owned subsidiary, extending the organization's reach into smaller-scale lending, including a COVID-19 Recovery Loan Program funded in partnership with Wells Fargo. Revenue is generated from loan interest income, NMTC management fees and equity returns, and grant program administration. The customer base spans nonprofit organizations, small businesses, healthcare systems, and developers across Ohio, with capital sourced from federal CDFI Fund awards (including a $4.96M award in 2023), major bank NMTC investors (Capital One, Chase Community Equity, PNC), and philanthropic partners. The organization is led by President and CEO Diana Turoff, with a lean team of 11–50 employees operating from a single Columbus office with statewide field coverage.
Finance Fund & FCAP firmographics
Firmographics- Name
- Finance Fund & FCAP
- Legal name
- Finance Fund
- Website
- https://financefund.org
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Finance Fund is a Columbus, Ohio-based nonprofit CDFI founded in 1987 that deploys grants, loans, New Markets Tax Credits, and direct real estate development capital to underserved Ohio communities, serving nonprofits, small businesses, healthcare providers, and affordable housing developers.
- Ownership category
- akta.pro rank
Finance Fund & FCAP industry classification
Industry- Product category
- Community Development Finance
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Depository Credit Intermediation (5221)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
- akta.pro secondary industries
- National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC), SBA/Government-Backed & Development Finance Loans (FSAKAGAI), SME/Industrial Development Banks (FSABAKAF)
Keywords
Where Finance Fund & FCAP is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Finance Fund & FCAP business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Loan Interest Income: Finance Fund generates revenue through interest charged on loans provided to nonprofits, small businesses, and developers for community development projects.
- NMTC Allocations and Fees: Revenue generated through New Markets Tax Credit program allocations, including management fees and investment returns from NMTC deployment.
- Grant Programs: Grant funding received from government agencies, foundations, and corporate partners to support community development lending activities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Community Development Loans - customized financing for underserved communities |
| Other | Multi-year contract | New Markets Tax Credit (NMTC) Financing - subordinated debt and equity investments |
| Other | Multi-year contract | Grant Programs - philanthropic and government grant funding |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Finance Fund & FCAP product offering
Product offeringCore offering
Finance Fund is a nonprofit community development financial institution (CDFI) that deploys flexible capital into Ohio's underserved communities through four core programs: Grants (Economic Development and PreDevelopment), Lending (community facilities and construction loans), Real Estate Development (including co-development of affordable housing and community facilities), and New Markets Tax Credit (NMTC) allocations. Through its wholly-owned subsidiary Finance Fund Capital Corporation (FCAP), it also operates the COVID-19 Recovery Loan Program and the Healthy Food for Ohio (HFFO) program, structuring layered capital stacks that combine grants, subordinated debt, and tax credit equity for community development projects.
Product overview
Finance Fund & FCAP is a community development financial institution (CDFI) providing a portfolio of financial products and programs for Ohio communities. The core offerings include Grants (Economic Development and PreDevelopment grants), Lending programs (community facilities and construction loans), Real Estate Development services, New Markets Tax Credits (NMTC) with both federal and Ohio state allocation, the Healthy Food for Ohio (HFFO) program for food access projects, and the COVID-19 Recovery Loan Program for small business relief. These programs work together to support affordable housing, healthcare facilities, healthy food retail, workforce development, and economic development across Ohio's underserved communities.
Differentiator
Problem solved
Functional benefit
Products and services
- Grants (Economic Development and PreDevelopment) Grant funding program providing Economic Development and PreDevelopment grants to support community development projects in underserved Ohio communities.
- Lending Loan financing programs including community facilities loans and construction loans supporting community development projects in Ohio.
- Real Estate Development Development programs for affordable housing and community facilities, including co-development with partners such as National Church Residences.
- New Markets Tax Credits (NMTC) Federal and Ohio state New Markets Tax Credit allocation programs providing subordinated debt and equity investments for projects in economically distressed communities, including healthcare, housing, manufacturing, and community facilities.
- Healthy Food for Ohio (HFFO) Program providing flexible financing and grants for healthy food retail projects in underserved areas including grocery stores, food hubs, and farmers markets across Ohio.
- COVID-19 Recovery Loan Program Emergency financing program created with Wells Fargo support to provide low-interest loans to Ohio small businesses impacted by the pandemic, operated through subsidiary Finance Fund Capital Corporation (FCAP).
Quantifiable outcome
- Finance Fund has deployed capital across multiple NMTC transactions supporting various community development projects throughout Ohio.
Companies that use Finance Fund & FCAP
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Finance Fund & FCAP technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Finance Fund & FCAP partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and major.
- National Church Residences (NCR)coreNational Church Residences partnered with Finance Fund on affordable housing and community facility development projects in Ohio.
- Model GroupcoreModel Group serves as general contractor and development partner on community development projects with Finance Fund.
- Stonehenge Community Development CorporationmajorStrategic partner for community development projects in Ohio.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Finance Fund & FCAP competitors and assessment
Company assessmentDirect peers
- Development Fund of the Western Reserve: Northeast Ohio CDFI providing loans and development financing to nonprofits, small businesses, and affordable housing developers. Direct peer operating the same CDFI model in a complementary Ohio geography.
- Cincinnati Development Fund: Cincinnati-based CDFI providing lending, NMTC allocation, and community development financing in the Cincinnati region. Direct geographic peer to Finance Fund, also deploying NMTC in Ohio and collaborating with Finance Fund on regional deals.
- Northwest Ohio Improvement Fund: Regional CDFI serving northwest Ohio with NMTC deployment and community development lending. Direct peer to Finance Fund and an active NMTC co-investor on projects such as ProMedica's headquarters.
Others
- National Church Residences: Large Ohio-based nonprofit developer of affordable housing and senior services. Co-development partner with Finance Fund on affordable housing projects — adjacent rather than competitive, but indicative of the ecosystem of partners Finance Fund relies on to deploy capital.
Emerging players
- Coastal Enterprises Inc (CEI): Maine-based CDFI providing loans, NMTC, and business development services to underserved communities. Strong model comparable to Finance Fund — small staff, multi-program platform, NMTC deployment — though focused on a single non-Ohio state.
Broad incumbents
- LISC (Local Initiatives Support Corporation): National CDFI and community development intermediary providing loans, NMTC allocation, and equity for affordable housing and economic development. Overlaps with Finance Fund's NMTC, lending, and real estate programs but at national scale with local offices in many states.
- Capital Impact Partners: National CDFI delivering loans, NMTC, and equity investments in community development projects including healthcare, housing, and education. Comparable in deploying federal NMTC allocations and community facility financing, though national in scope.
- Enterprise Community Partners: National CDFI and affordable housing organization deploying capital and development expertise nationwide. Comparable product mix including lending, NMTC, and real estate development — but with significantly broader geographic reach and capital base.
- IFF: Large national CDFI providing loans, real estate consulting, and development services to nonprofits serving low-income communities. Comparable in product mix (lending, real estate, NMTC), but operates across multiple states at materially greater scale.
Regional players
- Stonehenge Community Development Corporation: Ohio-focused community development organization partnering with Finance Fund on real estate projects. Adjacent CDFI/CDC providing community development services in Ohio, overlapping in real estate development and affordable housing focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks3 records
Key highlights6 records
Customer concentration
Finance Fund & FCAP social profiles
Digital presenceFinance Fund & FCAP financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finance Fund & FCAP leadership team
Management profileNumber of profiles
Profiles5 records
Finance Fund & FCAP subsidiaries and ownership
Company hierarchySubsidiaries1 record
Finance Fund & FCAP funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finance Fund & FCAP M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Finance Fund & FCAP
What does Finance Fund & FCAP do?
Finance Fund is a nonprofit community development financial institution (CDFI) that deploys flexible capital into Ohio's underserved communities through four core programs: Grants (Economic Development and PreDevelopment), Lending (community facilities and construction loans), Real Estate Development (including co-development of affordable housing and community facilities), and New Markets Tax Credit (NMTC) allocations. Through its wholly-owned subsidiary Finance Fund Capital Corporation (FCAP), it also operates the COVID-19 Recovery Loan Program and the Healthy Food for Ohio (HFFO) program, structuring layered capital stacks that combine grants, subordinated debt, and tax credit equity for community development projects.
Is Finance Fund & FCAP a public or private company?
Finance Fund & FCAP is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Finance Fund & FCAP founded?
Finance Fund & FCAP was founded in 1987. It employs 11 to 50 people.
Where is Finance Fund & FCAP based?
Finance Fund & FCAP is headquartered in Columbus, United States, in the North America region.
How does Finance Fund & FCAP make money?
Three revenue lines are on record. Loan Interest Income is the primary driver. The others are NMTC Allocations and Fees and grant Programs.
Who are Finance Fund & FCAP's main competitors?
Direct peers on record are Development Fund of the Western Reserve, Cincinnati Development Fund and Northwest Ohio Improvement Fund. National Church Residences is listed as an others. Coastal Enterprises Inc (CEI) is listed as an emerging player. Broad incumbents are LISC (Local Initiatives Support Corporation), Capital Impact Partners, Enterprise Community Partners and IFF. Stonehenge Community Development Corporation is listed as a regional player.
Does Finance Fund & FCAP have an API?
No public API is recorded for Finance Fund & FCAP.
What industry is Finance Fund & FCAP in?
Finance Fund & FCAP's product category is Community Development Finance. Its primary akta.pro industry code is BPAGALAA, Impact Investing & Social Finance (Funds, CDFIs, Microfinance), with a secondary code of BPADACAC, National Development Banks & State Development Finance Institutions (DFIs). Its NAICS code is 525 and its SIC code is 6111.