The Financial Solutions Lab is now accepting applications for its 2022 Exchange Challenge which will focus on the financial health of people who use public or private benefits.
Donor Name: Financial Solutions Lab
State: All States
County: All Counties
Type of Grant: Challenge
Deadline: 07/15/2022
Size of the Grant: $90,000
Details:
The 2022 Financial Solutions Lab Exchange Challenge
To support the financial health of people and families who use public or private benefits, the focus of this year’s Financial Solutions Lab Exchange Challenge is “Improving Public and Private Benefits Access and Navigation.”
The Exchange is founded on the belief that the complementary strengths of fintechs and nonprofit organizations can be combined to create powerful solutions that address the financial health challenges of struggling households.
Some examples of the types of projects applicants might propose include:
- Fintech Distribution: A nonprofit integrates a fintech tool into its existing program to increase engagement and impact
- Nonprofit Referral: A fintech integrates or refers customers to relevant nonprofit services.
- Systems Enhancements: A nonprofit implements fintech systems or tools to enhance back-end systems or operational processes
- Insights and Design: A fintech engages a nonprofit to get design input into new products and features
Funding Information
- $90,000 per partnership (minimum of $46,000 must go to the nonprofit partner).
Eligibility Criteria
- Project must be focused on addressing the financial health challenges of individuals navigating public or private benefits systems.
- Applications must have both partners identified and fully committed to working together during the grant period from October 2022 through September 2023.
- Organizations may submit applications with different partners (e.g., two applications with two different partners).
- Nonprofit Community Development Financial Institutions are eligible for grants.
- Nonprofit organizations registered as 501(c)(4) organizations will not be eligible.
For more information, visit Financial Solutions Lab.
