[From Philanthropy Today] The banking giant Citigroup is teaming up with two nonprofit organizations on a $200-million loan fund for small firms in low- and moderate-income areas, The Washington Post writes.
Citigroup will put up $199-million for the Communities at Work Fund, with the rest coming from the Calvert Foundation, a nonprofit investment group, and the Opportunity Finance Network of community lenders. Calvert will manage the fund.
A nonprofit 501(c)3 organization, the RCWE’s mission is to connect people with jobs through collaborative workforce development efforts and strong partnerships with economic development, business, education, and government sectors in the Northwest Pennsylvania region.
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