The Awards
Each year from 2007 to 2011, two of the nation’s most promising CDFIs will receive a major one-time financial award that combines unrestricted grant dollars and flexible, long-term, unsecured below-market loans (program-related investments, or “PRIs”).
Four CDFIs also will receive grants and national recognition for their excellence in Advocacy, Community Impact, Financing, and Innovation.
| Award | Eligibility |
| One $5,000,000 below-market loan plus $500,000 unrestricted grant | Outstanding, high-potential CDFIs with over $50 million in capital dedicated to lending or investing |
| One $2,500,000 below-market loan plus $250,000 unrestricted grant | Outstanding, high-potential CDFIs with $10 – $50 million in capital dedicated to lending or investing |
| Four $25,000 unrestricted grants | All CDFIs that have demonstrated excellence in Advocacy, Community Impact, Financing, or Innovation |
Successful candidates for the Wachovia NEXT Awards will be premier CDFIs with a history of outstanding accomplishment, a bold and compelling vision, extraordinary future potential for growth, innovation and impact, and a high degree of readiness to successfully accept, use, and leverage a large, flexible investment.