September 29, 2016 Stories and Data

September 29, 2016 Stories

HealthWorks
Marshall White Center
Rivertree Academy
TreisD

September 29, 2016 Fact Sheet

The work of CDFIs and the CDFI Fund is critical for so many small businesses, real estate developers, nonprofits, and communities across the United States.

-Mary Stoick, Sunrise Banks, St Paul, MN

CDFIs provide access to critical financial services and education in a way that’s accessible to and designed for low income and low wealth people and families. CDFIs help strengthen the US economy by expanding opportunities for homeownership, small business, and consumer credit., and federal grants to CDFIs are leveraged many times over by private capital. Due to the success of this work, the CDFI Fund has been sustained by broad, bipartisan support for 25 years.

-Christina Sauve, Cooperative Federal, Syracuse, NY

We have seen thousands of businesses receive grants and loans through CDFIs that have gone on to become successful businesses, contributing significantly to their local economies. Most of these businesses would not have received this capital from other financial institutions, so without this CDFI funding these thousands of businesses would not have been started or would have run out of initial funding before hitting the critical mass necessary to be successful. It means thousands of businesses, employers and employees are now gainfully employed, contributing to the economy and paying taxes that otherwise would not have happened.

-Daniel Posse, LoanWell, Durham, NC

Map of September 29, 2016 CDFI Branches and Stories