Ocala CEP says the grant will help them continue their efforts to expand access to capital, promote community development, and empower entrepreneurship in underserved communities across the Ocala Metro region.
OCALA, FL (352today.com) – The Ocala Metro Chamber and Economic Partnership (CEP) has just been awarded a $300,000 Technical Assistance (TA) grant courtesy of the U.S. Department of the Treasury.
The grant is part of the treasury’s Community Development Financial Institutions (CDFI) Fund, which aims to generate economic growth and opportunity in underserved communities.
The fund was accepted through the Ocala Metro Catalyst Fund, Inc. (OMCF), a nonprofit organization and independent affiliate of the CEP.
According to the CEP, OMCF is currently on a mission to drive “inclusive economic development” through increasing access to financial resources for entrepreneurs located in Marion Oaks, Silver Springs Shores, and West Ocala; three economically disadvantaged communities, according to the CEP.
CEP says the TA grant will support OMCF’s goal of becoming a fully certified CDFI. The organization has made strides in the past to reach this goal and began making loans in late 2024 to create growth in entrepreneurship and small businesses in these communities.
“We are incredibly grateful for this recognition and funding from the CDFI Fund,” says Lina Piedrahita, Chair of the OMCF Board of Directors. “This grant will enable us to enhance our infrastructure, build the capacity to make loans, and provide valuable resources to entrepreneurs who need access to capital in underserved areas. The future of the Ocala Metro depends on empowering our communities to thrive, and this funding brings us one step closer to realizing that vision.”
The CEP says OMCF will continue to make loans to local entrepreneurs moving forward into 2025 while continuing on the path of CDFI certification. They aim to create a “ripple effect” of local job creation, wealth-building, and community prosperity.
The CDFI Fund’s grant comes at a “crucial time” for the OMCF, according to Ocala CEP. The fund is preparing to offer not only loans, but also critical technical assistance, mentorship, and educational business workshops.
“Our vision is to create a sustainable ecosystem where small businesses in the Ocala Metro area can access the resources they need to succeed and contribute to the economic vitality of their communities,” says Evelyn Reyes, VP, Business Creation. “This grant provides the foundation for us to take significant steps toward becoming a fully operational CDFI and furthering our mission of economic inclusion.”
