CAMEO’s Impact Fund Offering Expanded Resources for CDFIs

Since launching in 2018, the CDFI Impact Fund from CAMEO?– California’s statewide micro-business network and leading voice for businesses with one to five employees – has distributed more than $780,000 to five CDFIs, enabling them to increase loan capacity by 219%. But that’s just the beginning. The Impact Fund has ambitious goals to expand to $1.1 million in annual deployments by 2024, serving as a long-term resource to support new and emerging mission-based microlenders. The fund is open to California CDFIs.?

CAMEO’s Impact Fund provides investments of $75,000 to $200,000 to new and emerging nonprofit microlenders who do not qualify for loan capital from traditional sources, such as banks or the CDFI Fund. The investments are complemented by ongoing technical assistance on operations and portfolio management offered through. our newly expanded CDFI Incubator. The Incubator offers eight customized programs to support mission-driven lenders in their efforts to create, strengthen, and grow lending programs.?

The Impact Fund's ultimate goal is to increase microlending volume to underbanked microbusinesses, creating a stronger and more equitable economy.?

“Small businesses are at the center of our economy. We can’t have inclusive growth unless we support all of our entrepreneurs, including the smallest of small businesses and those in undercapitalized communities,” said CAMEO CEO Carolina Martinez. “Our Impact Fund and CDFI Incubator are expanding capacity for mission-driven lenders so they can do what they do best: build more prosperous communities.”

CAMEO aims to increase the Impact Fund’s annual deployment to $475,000 in 2022, $800,000 in 2023, and $1.1 million in 2024. To support these goals, we are planning to raise $2 million in new lending capital this year.?

To learn more about CAMEO’s Impact Fund or other CDFI Incubator programs, contact Emily Gasner: [email protected]