CDFIs are extremely effective at providing access to capital and services to communities in rural and metropolitan areas, raising and leveraging private funding, to create effective solutions to meet the most challenging needs.
Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
CDFIs are extremely effective at providing access to capital and services to communities in rural and metropolitan areas, raising and leveraging private funding, to create effective solutions to meet the most challenging needs.
As a Community Development Financial Institution Homewise has utilized resources available through the CDFI Fund to help New Mexicans achieve their dream of homeownership. With dollars from the CDFI Fund Homewise has provided approximately $10.5 million in amortizing loans and another $6.9 million in down payment assistance to 656 households. Of these households, 60% were under 80% AMI.
The purpose of CDFI funds are critical to the communities to be able to support people and programs such as affordable housing and financial literacy to improve the wellbeing of the community.
CDFIs solve for capital access gaps that increase economic opportunities for people and communities who have been excluded from that opportunity.