“Where others see a neglected neighborhood, we see
opportunity.”
This is the tagline for an alternative funding site known as
the Opportunity Finance Network. The
site is purposefully designed to draw in innovative idealists with like-minded
mantras. It does a very good job by utilizing action words such as “learn, join,
and lead” for titles to hyper linked / associated categories with additional
micro-chasms to get more involved with.
The most helpful probably lies under their “learn” tab. This area will allow the reader to understand
exactly what a CDFI is. It also explores any career opportunities within the
industry, any CDFI institutions and their locations to help entrepreneurs.
Under this tab one can find employment opportunities within OFN, and discover
the Small Business Finance Forum of 2015, which is the only event of its kind,
and how this forum focuses on the needs of CFDIs and other “mission-driven
small business lenders.” The nature of a
CDFI is that they work in neighborhoods across the U. S. to provide affordable,
responsible credit, create and sustain jobs, and stabilize communities. CDFIs believe in opportunity for all, and
this is where there other core value resonates, “we align capital with
justice.”
For the skeptics, here is how this works
via the OFN. The Opportunity Finance
Network works within the opportunity finance industry. What this means is that opportunity
financiers find and finance opportunities that others miss. They see the world
differently. Where others see risks, they see possibilities. To them, people
are people. Furthermore, every person deserves
opportunities like good, family-wage jobs; decent, affordable housing; healthy
foods; locally owned stores; and quality schools. The Opportunity Finance Network’s additional
core value, “we invest in opportunities,” summarizes their vision beautifully.
On the other hand,
AEO: The Association for Enterprise Opportunity site is something very
different but still is an alternative funding site. An excellent site that truly speaks to the
consumer and entrepreneur by engaging in three tools of Internet marketing:
offered a strong hook, sold the idea that their service could improve your
current networking/funding abilities, and offered a scholarship/prize for being
a patron/member that is both desirable and achievable. The best and most poignant reasons for
becoming a member of the AEO lies under the “what we do” tab.
AEO strives to increase capacity of the
field to support underserved entrepreneurs in starting, stabilizing and
establishing businesses and to foster greater understanding of the importance
of strong and effective microbusiness initiatives to the U. S. economy.
AEO represents the public policy
interests of its members and through its growing network of partners,
facilitates interactions among small entrepreneurs and the organizations that
seek to help them succeed.
AEO is also an important source of
important industry data and reports.
(http://www.aeworks.org,
8/15/2015)
However there are some
alternative funding sites that are custom tailored to larger businesses,
specific cultural or community development organizations, and those are
specific criteria one needs to be aware of.
For example, a particular favorite specialized cultural and community
development organization of mine, the First Nations Oweeta Corporation, is
exclusively designed to accomplish the following.
Develop financial
institutions to directly provide Native American communities the tools and
capital support required for real sustainable job creation, small business
development, commercial real estate development, affordable housing/home
ownership while also offering basic banking services and financial literacy
training to “underbanked” Native American communities who have been
historically targeted by predatory lending practices.
(http://www.oweesta.org/about-us-About-Us/Oweeta,
8/15/2015)
The reason this particular organization stands out is due to
the fact that I am aware of the nefarious history between Native Americans and
the U. S. lending practices, especially those regarding real estate and
casinos. While I am intrigued by Oweesta’s
mission statement and the organization’s criteria to fund (criteria I do not
meet), one could look at the bottom right corner of their page only to realize
that the Opportunity Finance Network has invested in this specialized
CDFI. More importantly, it really demonstrates
how true to their core values and mission the Opportunity Finance Network is, “
Justice for all begins with opportunity for all.”
The messaging is
very clear in that each on of these alternative funding resources are
attempting to empower entrepreneurs and develop our communities for economic
growth, sustainability and improve the chances for everyday people to improve
their quality of life. The United States
economic policies remain confusing to even the most educated people just trying
to live paycheck to paycheck. Resources such as the Association for Enterprise
Opportunity, the Opportunity Finance Network and First National Oweesta
Corporation provide ample information, scholarships, networking, and funding
opportunities for eager entrepreneurs who wish to explore these avenues. One needs to be highly aware of the specific
criteria under each separate opportunity, in order to avoid a false sense of
hope and to attain the proper alternative-financing match for your
business.
Thank you,
Michelle Fernandez
