CAMEO’s Carrot Fund: Loans to Lenders

The California Association of Microenterprise Opportunity (CAMEO)

received funding from Capital One to create the Carrot Fund, which offers loans to Community Development Financial Institutions (CDFIs).

CAMEO hired me to design and implement the program, which is in the process of closing its first loan to Mission Community Loan Fund, aka Adelante Fund.

The Carrot Fund offers loans up to $200,000 to CDFIs offering microloans to underserved communities throughout California.

It’s been an exciting challenge to create underwriting criteria, application analysis and loan processing and servicing procedures. We are looking forward to entertaining more applications from community lenders so they can expand their reach to support business development.