PROVIDENCE – Capital Good Fund, a nonprofit financial-services organization, will use a $81,273 Community Development Financial Institutions Technical Assistance grant to help revitalize low-income communities in Providence.
The grant is administered by the U.S. Treasury Department.
“At a time when Rhode Islanders are struggling to get back on their feet after the recession, this grant will enable [Capital Good Fund] to empower our clients with the tools they need to better their lives,” said co-founder and executive director Andy Posner in a statement. “I believe in this state, and I think this award from the U.S. Treasury speaks volumes about what Rhode Islanders can achieve when we work together.”
Capital Good Fund offers one-on-one financial coaching, microloans, and free tax preparation to low-income Providence communities.
Since it was founded in 2007, while Posner was a student at Brown University, the organization has administered 224 loans totaling more than $232,000, provided free tax preparation to 202 families and served 86 people with individual financial coaching.
The grant will be used to hire full-time and part-time workers, expand the group’s customer base, train students in financial coaching, and expand operations to all of Rhode Island.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.