In 2024, FCI launched an initiative to establish a LA Working Capital Fund to provide zero cost capital to community-based organizations (CBOs) that address homelessness in Los Angeles. These nonprofit CBOs often lack necessary working capital to bridge the gap between when they must meet obligations—such as payroll or rent—and when they receive cash payment from the entities that contract with them or promise them grants. Despite holding substantial and often overdue invoices, it’s difficult for CBOs to access working capital to bridge this gap. This problem not only prevents homeless services agencies from getting results, it also disproportionately impacts smaller CBOs in underserved communities.