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Impact Finance opens Access Capital grant cycle

April 29, 2024

Training and technical assistance grants will be provided to selected nonprofits

As part of U.S. Bank Access Capital: Collaborating to Invest in Developers of Color, U.S. Bancorp Impact Finance is seeking nonprofits and Community Development Financial Institutions (CDFIs) that could support training and technical assistance in 2024 for new and existing affordable housing developers of color.

Grants will be provided to selected nonprofits based on Impact Finance’s equitable access to capital strategy in alignment with U.S. Bank’s Access Commitment®.

The overall goal of the Access Capital grant program is focused on advancing equity to assist developers who need predevelopment capital and nonprofit organizations who are focused on developing, maintaining or expanding their technical assistance or training to better support developers.

This will be the fourth year of the program. From 2021 to 2023, Impact Finance awarded $850,000 to 13 organizations.

“We focus a lot on access to capital, but just as important is ensuring that entities are ready to take on that capital and that is why capacity-building and technical assistance programs are vital,” said U.S. Bancorp Impact Finance senior vice president Torrence Moore. “For this reason, we believe the Access Capital program provides opportunities for developers and nonprofits to obtain knowledge, networking and skills that will contribute to the growth of their organizations and assist them in ultimately qualifying for loan capital.”

Grant recipients will be selected through an application process where nonprofits submit a proposal describing how they might use additional capital for technical assistance or a training program with the goal of building capacity for developers. Once proposals are submitted, Impact Finance will select three to five recipients. Impact Finance will consider providing grants to both existing and new programs.

The deadline to apply is June 24, 2024, and the next round of grants will be distributed in the fourth quarter of 2024.

For more information or to obtain a copy of the RFP, email BusinessImpactGroup@usbank.com.

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