Pace Finance Corporation

Pace Finance Corporation, a minority-owned, non-profit organization registered in SAM.gov since 2011, operates as a Community Development Financial Institution (CDFI) based in Los Angeles, California. As a corporate entity with tax-exempt status, the organization focuses on providing financial services and support to low and moderate-income communities, with a specific emphasis on addressing economic challenges and inequities. The corporation is particularly dedicated to serving communities that have historically experienced significant unmet capital and financial service needs.

Through federal grant awards, Pace Finance Corporation has received substantial funding from the Community Development Financial Institutions Fund (CDFI Fund) within the Department of the Treasury to expand lending, grant-making, and investment activities in underserved communities. Their primary grant awards have included the CDFI Rapid Response Program (RRP) and the Community Development Financial Institutions Emergency Relief Program (CDFI ERP), which totaled approximately $1.8 million in funding. These grants specifically target supporting businesses, individuals, and organizations disproportionately impacted by the COVID-19 pandemic, with planned activities including providing financial products, financial services, development services, grants, loan loss reserves, and capacity-building initiatives. The organization's most recent grant, a Revolving Loan Fund covering Los Angeles County awarded on October 1, 2024, further demonstrates their commitment to providing financial resources and support to economically challenged communities, with the ultimate completion date set for September 30, 2027.