Business Details
39 Years
experience
Empowering Communities Through Development and Investment
Finance Fund is a mission-driven non-profit organization dedicated to improving quality of life in low- and moderate-income communities through strategic capital investment, real estate development, and resource allocation. Established in 1987, we specialize in connecting underserved Ohio communities with public and private funding sources to support economic revitalization. Our comprehensive approach includes administering grants, providing flexible financing through CDFI programs, and developing affordable housing and community facilities. We leverage tax credits to fund projects in distressed urban and rural areas, prioritizing job creation, healthcare access, and healthy food retail. With over $491.5 million invested across Ohio, our initiatives have generated thousands of jobs, housing units, and millions of square feet of commercial space.We maintain strict non-discrimination policies and offer language assistance to ensure equitable access to our programs. Our team combines decades of expertise in community development, construction management, and financial modeling to deliver sustainable solutions. Through partnerships like the Lead Safe Ohio Program, we address systemic challenges while fostering economic growth. Our impact spans diverse sectors including education, healthcare, industrial development, and youth services. As a certified Community Development Entity, we remain committed to measurable outcomes and transparent operations.
Services
Community Development Grants
Affordable Housing Loans
Real Estate Development
New Markets Tax Credits
Small Business Financing
Construction Management
Community Facilities Loans
Technical Assistance
Financial Modeling
Workforce Development
Details
- Year established: 1987
Highlights and features
- 35+ years of experience in Ohio community development since 1987
- Over $491.5 million invested in underserved communities with measurable outcomes
- Specialized expertise in NMTC financing and affordable housing development
- Comprehensive services spanning grants, lending, and real estate development
- Proven track record creating 21,624 permanent jobs and 18,507 housing units
Associations and certifications
- Community Development Financial Institution (CDFI)
- Certified Non-Profit Community Development Entity (CDE)
Services
Community Development Grants
Finance Fund administers predevelopment and economic development grants to Ohio non-profits and community organizations. These funds support feasibility studies, housing projects, and job-creating initiatives in distressed communities. Our grants help transform viable ideas into impactful community assets.
New Markets Tax Credits
As a certified CDE, we facilitate federal and state tax credit investments for projects in low-income communities. This program reduces financing costs for developers while creating jobs and essential services. We prioritize projects addressing healthcare, education, and manufacturing needs.
Affordable Housing Loans
Our Affordable Housing Loan Fund provides capital for developers serving vulnerable populations. We finance acquisition, construction, and rehabilitation of housing for low-income individuals, seniors, and those with special needs across Ohio's urban and rural areas.
Small Business Lending
We offer flexible financing solutions for small businesses in underserved communities. Our loans support real estate acquisition, equipment purchases, and working capital needs when traditional financing isn't available, fostering local economic growth.
Real Estate Development
We develop mixed-use and residential properties in economically distressed areas. Our projects include community facilities, commercial spaces, and affordable housing units with comprehensive planning, technical assistance, and construction management services.
People
Diana Turoff
President & CEO
Diana Turoff leads Finance Fund's strategic vision for community development. With decades of experience in economic revitalization, she oversees capital deployment and partnership initiatives that create sustainable impact across Ohio's underserved communities.
Greg Kiger
Chief Operating Officer
Greg Kiger manages day-to-day operations and program implementation. His expertise in organizational leadership ensures efficient delivery of Finance Fund's community development programs while maintaining compliance with regulatory standards.
Matt Frank
Chief Financial Officer
Matt Frank oversees financial strategy and resource management. He ensures fiscal responsibility across all initiatives, maintaining the organization's strong financial position while supporting complex development projects across Ohio.
Andrew P. Swary
Executive Vice President and General Counsel
Andrew Swary provides legal oversight and compliance expertise. He ensures all development projects and financial transactions adhere to regulatory requirements while protecting the organization's legal interests.
Jeffrey Mohrman
Executive Vice President of Real Estate
Jeffrey Mohrman leads real estate development initiatives. With extensive experience in property development, he focuses on creating affordable housing and community facilities that address critical needs in Ohio's distressed communities.
Questions
What is Finance Fund's primary mission?
We drive capital and resources to Ohio's low-income communities through grants, real estate development, and tax credit programs to create jobs, housing, and essential services.
How does Finance Fund support small businesses?
We provide flexible financing solutions for small businesses in underserved areas when traditional loans aren't available, supporting real estate acquisition, equipment purchases, and working capital needs.
What types of grants are available?
We offer predevelopment grants up to $50,000 for feasibility studies and economic development grants up to $100,000 for job-creating projects in distressed Ohio communities.
How does the New Markets Tax Credit program work?
This federal program provides tax incentives to investors funding projects in low-income areas. We connect eligible Ohio projects with capital to reduce financing costs and create community impact.
What real estate projects does Finance Fund develop?
We develop affordable housing, community facilities, and commercial properties in distressed urban and rural areas, prioritizing projects that serve vulnerable populations and create economic opportunities.
How can I apply for funding?
Contact our lending team for small business loans, visit our website for grant applications, or reach out to our New Markets Tax Credit specialists for eligible development projects in Ohio.
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