OFN CDFI Capital Solutions Accelerator

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**Applications are due July 8**


Have questions? Please refer to our FAQ's or contact us at innovation@ofn.org

About the CDFI Capital Solutions Accelerator

OFN’s CDFI Capital Solutions Accelerator is a program designed to develop and advance innovative ideas for CDFIs to address longstanding problems and meet the moment with new thinking, better tools, and bold partnerships. The accelerator will pair CDFIs and other entities that have early-stage ideas with technical experts, peer learning opportunities, and connections to funder networks to develop and advance transformative solutions.    

The CDFI Capital Solutions Accelerator is seeking innovative capitalization ideas for small business lenders. Ideas should enable growth and flexibility for small business CDFIs, such as by:
  • Unlocking new sources of capital
  • Designing structures that meet the moment while preserving mission
  • Reducing barriers to flexible, affordable, long-term funding across the field
Ideas must address capitalization challenges but can fall into any of the initiative's four priority areas: capital solutions; financing products; technology & operational efficiency; and data research, systems, and analytics. 

Given recent federal funding uncertainty, OFN is particularly interested in innovations that do not rely on federal funding or programs.

What to Expect

The CDFI Capital Solutions Accelerator is a 6-month program featuring both independent work, mentorship, and collaborative feedback amongst peers. Organizations that complete the program will be better positioned to seek funding support to pilot, improve, or scale their solution and achieve impact.

The accelerator leverages a cohort model to support a group of organizations in developing their capitalization ideas. Participants will be a diverse group of leaders from up to 10 organizations.

Accelerator participant benefits:
  • Pairing with an expert mentor to advance innovation proposals 
  • Opportunity to work with peers to receive and offer feedback and share ideas
  • Networking with innovation thought leaders within and outside of the CDFI industry 
  • Travel and cohort-related expenses will be covered by OFN
  • Participation stipend
  • Opportunity to be considered for OFN's Innovation Fund 
  • Opportunity to pitch to funders/investors
Accelerator participant responsibilities:
  • Attend monthly virtual meetings and be active participants in the cohort 
  • Complete assignments between meetings, including meeting relevant deadlines
  • Refine an innovative idea so that they are ready to seek funding
  • Provide feedback to cohort peers and otherwise participate fully in cohort activities
  • Present their product/proposal to the Innovation Council, potential funders, or others

Who Should Apply

Idea readiness: To benefit from the accelerator, organizations should have an early-stage idea that they are ready to test or refine or a scalable solution with some track record of impact. The table below shows the "readiness" of an idea-solution. Organizations with ideas between a readiness level of 2-5 are best positioned to partake in the accelerator.


Organization type: The accelerator is open to both OFN members and nonmembers. Nonmembers may be community lenders, financial intermediaries, think tanks, or other organization types. Both for-profit and nonprofit organizations may apply.

Evaluation Criteria

OFN will select organizations who:
  • Have a clear vision for a capitalization innovation that will benefit CDFIs
  • Have an idea that is ready to be tested or refined, or a scalable solution with some track record of impact (ie. solution-readiness level of 2-5)
  • Will actively engage with the cohort, including by providing and accepting feedback; and
  • Are committed to iterating, validating, and implementing their idea

Estimated Time Commitment

Participants will be expected to dedicate approximately 80-120 hours over six months and an average of 13-20 hours per month to this program. This estimate includes cohort meetings, meetings and work time with technical experts, assignments, and independent work on your innovation. 

Participation Requirements

Each organization must include two participants, one who is an executive/has decision-making authority (e.g. Chief Financial Officer or board member) and one who will be responsible for program implementation. Senior leadership participation is key to ensure there is sufficient organizational buy-in and decision-making ability to pursue and advance the innovation. 

Participation Stipend

OFN will offer participation stipends for each organization based on the sliding scale below. OFN members and nonprofit organizations are eligible to receive the stipend. For-profit organizations who are not OFN members are ineligible for a stipend. Eligible organizations may opt out of receiving a stipend.



The stipend value represents the total for each organization (not per individual). The final stipend value will depend on the number of organizations ultimately accepted into this round of the accelerator.

About the Application

The application consists of 13 questions, nine of which require narrative responses. The narrative responses each have word count limits, equating to a maximum of approximately 5-7 pages in total. A Word version of the application is linked below to help you with drafting responses.

Link to Word Version of Application

Please make sure to submit your application using this form and not the Word document. You can save your responses on the form and come back to them at any point before you submit.

Applications are due on July 8th.

If you have questions, please visit the FAQ's or email us at innovation@ofn.org.
I. Assurances
II. Organization Information









3. Name, title, and role in implementing the innovation for the 2 people you'd like to participate from your organization:
Participant 1





Participant 2





Limit: 250 words
III. Innovation Information
1. What is your innovative idea related to capitalization for small business lenders? Include the following in your discussion:

a. The problem you are solving
b. How your idea will help you or CDFIs support small business lending
c. Why you think this is the right innovation to pursue at this time
d. The level of reliance on federal funding sources
Limit: 600 words


Limit: 250 words


Limit: 250 words

Limit: 350 words

Limit: 350 words

7. Describe how your organization plans to ensure that you have the capacity to undertake the "accelerator participant responsibilities", which include
:
  • Attending monthly virtual meetings and being active participants in the cohort
  • Completing assignments between meetings, including meeting relevant deadlines
  • Refining an innovative idea so that you are ready to seek funding
  • Providing feedback to cohort peers and otherwise participating fully in cohort activities
  • Presenting your product/proposal to the Innovation Council, potential funders, or others 
Limit: 250 words

Limit: 250 words

Limit: 250 words