CSH has been awarded $2 million by the nation’s largest awards program for community development financial institutions (CDFIs), the Wells Fargo NEXT Awards for Opportunity Finance. CSH will use the $2 million award to expand lending activities in communities that have high levels of chronic homelessness and the greatest need for supportive housing through a National Loan Fund. The fund will enable CSH to expand into 10 underserved markets and will spur the creation of nearly 10,000 supportive and affordable housing units over 10 years.
The Wells Fargo NEXT Awards for Opportunity Finance are presented by Opportunity Finance Network with support from Wells Fargo, The Kresge Foundation, and the John D. and Catherine T. MacArthur Foundation. The NEXT Awards is the nation’s largest awards program for the CDFI industry. It recognizes innovative and high-impact CDFIs that bring needed financing to low-income, low-wealth, and other disadvantaged people and communities across the U.S.
“CSH is honored to receive a Wells Fargo NEXT Award for Opportunity Finance. We will use the award to expand on our 20 years of success using supportive housing to build strong, healthy communities,” says CSH President & CEO, Deborah De Santis.
See a video celebrating CSH’s work as a CDFI and our Next Award win (our video is in first row).
Awardees were honored at a celebration on October 16 at Opportunity Finance Network’s annual Conference in San Antonio, TX.