Brightpoint Development Fund Receives $147,000 to Boost Financial Services in Six Counties

Fort Wayne, IN – Brightpoint Development Fund, a nonprofit organization that provides affordable business loans, financial education, and housing development services, has received two grants totaling $147,000 from Flagstar Bank. The grants will be used to expand financial services in Adams, Elkhart, LaGrange, Miami, St. Joseph, and Wabash counties starting this month.

“We are grateful to Flagstar Bank for their generous support and partnership. These grants will help more Hoosiers achieve their dreams,” says Brightpoint President/CEO Steve Hoffman.

In 2023, Brightpoint Development Fund provided training and technical assistance to over 2,000 people including small business owners, families, and individuals.

The Flagstar funding will provide technical assistance in the form of hands-on help for more entrepreneurs as they start or grow their businesses. For families and individuals, it will support Personal Financial Foundations training which focuses on budgeting, credit repair, and banking with a goal of improved money management outcomes and greater financial stability. Participants learn how to create an effective budget, manage debt, and track personal spending.

“We believe that financial education is a key component of economic empowerment,” says Brightpoint Vice President of Community Economic Development Matt Crouch. “Our training sessions equip individuals with the tools and skills they need to take control of their finances and plan for the future.”

Brightpoint is a private, 501(c)(3) nonprofit organization serving over 30,000 people across northeast Indiana each year. Through a wide range of programs, Brightpoint helps communities, families, and individuals remove the causes and conditions of poverty. All Brightpoint services are provided without regard to race, age, color, religion, sex, sexual orientation, disability, national origin, ancestry, or status as a veteran.

Brightpoint Development Fund, a subsidiary of Brightpoint, is a nonprofit organization that provides affordable business loans, financial education, and housing development services. It is a U.S. Small Business Administration (SBA) micro lender and a U.S. Department of the Treasury Community Development Financial Institution (CDFI.)

Flagstar Bank, N.A. is a subsidiary of New York Community Bancorp. It operates 395 branches across nine states, including strong footholds in the Northeast and Midwest and exposure to high growth markets in the Southeast and West Coast. Flagstar Mortgage operates nationally through a wholesale network of approximately 3,000 third-party mortgage originators. At December 31, 2022, the company had $90.1 billion of assets.