Ocala Metro Catalyst Fund

The Ocala Metro Catalyst Fund, through our partnership with Ocala Metro CEP, will promote programs and initiatives which increase access to capital and finance to underserved populations in the Ocala Metro and to empower community development through entrepreneurship.

Technical Assistance Services include:

• Technical Assistance & Support Meeting
• Business Planning
• Market Research
• Financial Analysis

Programs will include:

The Access to Capital Financial Cohorts Powered By The Ocala Metro Catalyst Fund is designed to empower business owners with the essential financial knowledge and tools needed to strengthen their businesses and achieve sustainable growth. This comprehensive financial literacy cohort focuses on equipping participants with the skills to navigate complex financial landscapes, enhance their financial decision-making capabilities, and position their businesses for funding and investment opportunities.

Community Development Financial Institutions (CDFIs) share a common goal of expandng economic opportunity in low-income communities by providing access to financial products and services for local residents & businesses. 

CDFIs can be banks, credit unions, loan funds, microloan funds, or venture capital providers. CDFIs are helping families finance their first homes, supporting community residents starting businesses, and investing in local health centers, schools, or community centers. CDFIs strive to foster economic opportunity and revitalize neighborhoods.   

A: Community Development Financial Institutions Fund

VISION

The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is an America in which all people and communities have access to the investment capital and financial services they need to prosper.

MISSION

The CDFI Fund's mission is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers.

OVERVIEW

The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative.

The CDFI Fund achieves its purpose by promoting access to capital and local economic growth in the following ways:

1. through its Community Development Financial Institutions Program by directly investing in, supporting and training CDFIs that provide loans, investments, financial services and technical assistance to underserved populations and communities;
2. through its New Markets Tax Credit Program by providing an allocation of tax credits to Community Development Entities which enable them to attract investment from the private-sector and reinvest these amounts in low-income communities;
3. through its Bank Enterprise Award Program by providing an incentive to banks to invest in their communities and in other CDFIs;
4. through its Native Initiatives, by taking action to provide financial assistance, technical assistance, and training to Native CDFIs and other Native entities proposing to become or create Native CDFIs;
5. through its CDFI Bond Guarantee Program by issuing bonds to support CDFIs that make investments for eligible community or economic development purposes; and
6. through its Capital Magnet Fund, which offers competitively awarded grants to finance affordable housing solutions for low-income people and low-income communities nationwide.

Since its creation, the CDFI Fund has awarded more than $5.2 billion to CDFIs, community development organizations, and financial institutions...

Three (3) types are: 

• Nano loans (loans < $2,000) 

• Microloans ($2,000 – $15,000) 

• Small Business (loans > $15,000) - Phase II 

Loan Terms & Pricing will be based on Market Rate +200 Basis Points and are for 18-24 month terms for recipients.

Yes, as a 501c3 nonprofit organization, the Ocala Metro Catalyst Fund is made possible through the generous support of our community. If you or your organization would like to support our mission to increase access to capital and finance to underserved populations, we encourage you to reach out today.

Please contact Evelyn Reyes, Evelyn@OcalaCEP.com or 352-629-8051 ext. 108.

In order to qualify for CDFI funds from the Ocala Metro Catalyst Fund (OMCF), applicants must be from either 1.targeted geographic areas within CDFI service area OR 2. member of targeted demographic population within CDFI service area.

Targeted Geographic Areas / Neighborhoods:

• Silver Springs Shores
• West Ocala
• Marion Oaks

Targeted Demographic Populations:

• Veteran-Owned Startups or Businesses
• Women-Owned Startups or Businesses
• Minority-Owned Startups or Businesses

NOTE * Primary Business Owners MUST primarily reside in Marion County FL to be eligible for CDFI Funds from OMCF

Please provide the following documents, if any, regarding your business (Please submit PDF copies of all requested documents where possible)

• Copy of your state issued picture ID.
• Business owner Resume.
• Verification of your business's registration or incorporation in the State of Florida through SunBiz
• A copy of the confirmation letter from the IRS indicating your Employer Identification Number (EIN).
• Business Executive Summary
• Certificates of Technical Assistance Program completion or letter of intent to complete within the life of the loan.
• 2 years of business or personal taxes.
• We require copies of the two most recent months' bank statements for either the Applicant Business or Personal Checking/Savings accounts, provided they are utilized for business purposes and expenses.
• Completed Business Plan or letter of intent to complete within the life of the loan.
• Business Model Canvas document (to be completed with Ocala CEP staff)
• Certificates of successful graduation from Ocala CEP Ice House Mindset or Fast Trac Course.
• Two letters of recommendation from a local business owner, Community Resource Partner, or CEP Partner. 

CDFI FUND CIMS MAPPING TOOL

This mapping tool was created by CDFI FUND to provide prospective applicants with the ability to search by address, census tract, and other geographic areas of interest to determine program eligibility for the BEA, CDFI, CMF, ERP, NACA, and NMTC programs. Use the search bar to type an address and view eligibility information on the map.

VISIT CDFI FUND CIMS MAP TOOL

STEPS:

1. CLICK LINK ABOVE ^^^
2. INPUT HOME ADDRESS into Search Bar at top left
3. CLICK ON BLDG IMAGE AT ADDRESS
4. RECORD 11-digit NUMBER (Write Down or COPY/CTRL-C)
5. INPUT 11-digit NUMBER in Field on next question

EXAMPLE: Census Tract FIPS 12083001102

The Ocala Metro Catalyst Fund (OMCF) is calling for the initial round of applications to its inaugural Nanoloan Loan Program & Business Launch Cohort. In preparation for CDFI certification process that OMCF will be completing, our staff is now accepting initial applications for the program. Entrepreneurs &  Business Owners from the following neighborhoods in Ocala Metro are encouraged to complete the Nanoloan Application now!

Targeted Geographic Areas / Neighborhoods:

• Silver Springs Shores

• West Ocala

• Marion Oaks

Targeted Demographic Populations:

• Veteran-Owned Startups or Businesses

• Women-Owned Startups or Businesses

• Minority-Owned Startups or Businesses

To Apply, Click Here >>> Nanoloan Loan Program & Business Launch Cohort

In accordance with federal laws and U.S. Department of the Treasury policy, this organization is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability.

To file a complaint of discrimination, write to:

U.S. Department of the Treasury,
Director, Office of Civil Rights
and Equal Employment Opportunity
1500 Pennsylvania Avenue, N.W.,
Washington, DC 20220;
or send an e-mail to:
crcomplaints@treasury.gov.