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Byline: Melissa Davis
Sep. 21--Nine months ago, MetaFund was still just an idea in Tom Loy's head.
Today, it is a full-fledged Community Development Financial Institution with more than $8.5 million in capital, 20 investing banks and dozens of government and nonprofit partners.
By January, it is expected to become the largest multibank-funded community development corporation in the United States.
Frankly, Loy is a little disappointed with that progress.
"I think everybody else is surprised" at MetaFund's rapid growth, Loy said, "but I'm not. I genuinely believed a year ago that we had a model that would soon be replicated. In five …