Olamina
Olamina seeks to address the historic lack of access to capital in American communities — namely Black and Native communities, who have faced decades of disinvestment and intentional extraction.
Launched by Candide Group in 2019, Olamina provides impact-oriented loans to a variety of women- and BIPOC-led private debt providers. These organizations include such as CDFIs, non-profit loan funds, and other institutions, which invest in critical community staples including small business development, worker cooperatives, and low-income housing.
Current Fund Size
$40M
Impact Thesis
Olamina seeks to build tangible and sustainable community wealth by investing in access to asset-building, high-quality jobs, and self-determination for low-income communities. At Candide Group we've seen huge demand from both sides of this equation — investors who want to apply a social and racial justice lens to their work, and community organizations committed to racial justice that have been systematically excluded and need a lower cost of capital, with flexible terms. We launched Olamina to bridge that gap.
Olamina believes that organizations which are led by people from the communities they serve are ultimately able to manage resources and risk more effectively. At the time of investment, 100% of Olamina’s borrowers were led by women and people of color. We will also provide non-financial capital, such as access to networks, as part of our investment strategy. Unlike traditional loan funds, community borrowers are placed at the center of Olamina’s governance and design of solutions. At the same time, we seek to honor all stakeholders within the fund through participation in profits and through our Community Advisory Board, which advises on the fund strategy, reviews opportunities, and participates on the Credit Committee. Please see our FAQs to learn more about our approach.
General Investment Strategy
Olamina focuses on senior unsecured loans of between $1M and $4M to CDFIs and other loan funds, and between $500k and $1M in direct loans to companies and other organizations. In some cases, Olamina may lend to CDFIs through intermediaries who have expertise around a specific community and are able to spur additional investments to smaller CDFIs in their network.