September 21, 2015 Stories and Data

Rebuilding Together
Pennsylvania Assistive Technology Foundation Lending in PA District 1
CDVCA Invests in Goodwrx
ECLF Uses Capital Magnet Award to Support Rural Housing

Testimonials

CDFIs are not just banks. They are lifelines. Without them, thousands of small businesses-many in overlooked neighborhoods (urban and rural) – would never get access to capital, training, and the support they need to survive, let alone thrive.

-David Wise, Nebraska Enterprise Fund, Omaha, NE

Our Native communities are very close knit and culturally dependent upon the community to hold those sacred ways in place. Our communities need the CDFIs as they better understand and serve the community members in a way that is critical to the success of home ownership, small business support and primarily teaching the outside world’s credit system and how it affects each member. We strive to strengthen the financial wellbeing of our communities where government and the outside world falls short.

-Becky Albert-Breed, First Nations Community Financial, Black River Falls, WI

Native CDFIs are a critical/integral part of the financing infrastructure in Native communities and they make the most important investments and achieve the most impressive impacts in Native communities. They are directly responsible for enhancing financial literacy/capability, for creating access to capital, for increasing homeownership and building homes, and for providing technical and financial support for entrepreneurs and businesses. Even when traditional banks operate in or near Native communities, they often lack the understanding of the Native culture and complexities of providing financial services in Indian Country. Native CDFIs have emerged to help address the credit and capital challenges and provide Native communities and residents with an alternative to mainstream banks. Our Native CDFI, Four Directions Development Corporation has been a tremendous asset to the Native communities in Maine. We started out with $250,000 in capital in 2002 and over the past twenty + years, Four Directions has lent out over $25 million in capital to first-time homebuyers, new and emerging entrepreneurs and businesses, for tribal community development such as tribal wellness centers, family housing, elder housing and community facilities and infrastructure. Native CDFIs are a fundamental aspect of tribal development, a critical strategic financing partner for building a robust and sustainable economy in Indian communities nationwide.

-Susan Hammond, Four Directions Development Corporation, Orono, ME