The Center will invest in for-profit companies, as well as provide grants to nonprofit organizations. The total funding pool will be between $750,000 and $1,000,000. This second round will focus on applications which help move low-income consumers towards wealth creation, break new ground, leverage partners synergistically, and demonstrate the potential to become profitable or financially self-sustaining, as well as achieve either internal or external scale. CFSI is particularly interested in several promising strategic areas, including stored-value card solutions; remittances with ties into asset building; workplace-based strategies; bank-nonbank partnerships; alternative credit scoring, and self-service delivery channels.
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