Brightpoint Brightpoint
August 5, 2025 | Fort Wayne, IN – Brightpoint Development Fund recently closed a $2.5 million loan with MidWest America Federal Credit Union. The loan was secured at a reduced interest rate of 2.5 percent.
The funding will expand the organization’s ability to provide flexible capital for small business lending and grow the Community Loan Center (CLC) program. The funds will also be used to test new programs that support underserved and low-income residents.
Federal Home Loan Bank of Indianapolis (FHLBI) supported the transaction between MidWest America Federal Credit Union and Brightpoint Development Fund through a rate buydown grant.
“FHLBank Indianapolis is proud of our role in this partnership,” shares Jon Griffin, SVP and Chief Business Development Officer. “Our CDFI Rate Buydown program was created for exactly this purpose – to provide access to low-cost capital that facilitates lending to underserved members of our communities across Indiana.”
“At MidWest America Federal Credit Union, we believe in investing in the people and organizations that uplift our community,” says Dave Shadburne, President & CEO. “Partnering with Brightpoint allows us to support critical services that create real opportunities for individuals and families. Brightpoint’s mission aligns closely with our own values of financial empowerment, community development, and long-term impact. We are proud to help advance their work through this collaboration.”
Brightpoint Development Fund’s Community Loan Center program has long addressed the need for affordable, small-dollar loans for individuals. It also builds on the growing regional momentum following a recent CDFI convening co-hosted with Greater Fort Wayne Inc., which brought together local leaders to attract more mission-aligned capital to northeast Indiana.
“This investment is a milestone for Brightpoint Development Fund as not only is it our largest loan to date, but it’s also a powerful example of what’s possible when mission-driven finance and community partnerships align,” says Steve Hoffman, Brightpoint President/CEO. “This funding helps us meet our mission to create economic opportunities for people and places unserved by traditional financial institutions.”
Founded in 2011, 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.) More info at mybrightpoint.org/bdf.
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Brightpoint is a private, 501(c)(3) nonprofit organization serving nearly 55,000 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.