CDFIs are essential in supporting small businesses that are the backbone of the United States’ economy.
CDFIs are essential in supporting small businesses that are the backbone of the United States’ economy.
CDFIs provide extraordinary support to many people who otherwise would not be able to access ordinary banking and credit opportunities. They are frequently located in banking deserts”
CDFIs provide responsible and affordable loans to individuals, businesses, and organizations that are unable to obtain financing from conventional banks – not because they aren’t worthy of a loan, but because their risk profile doesn’t fit the more rigid criteria used by conventional banks. This is an essential service for making sure loan capital reaches deserving borrowers with unconventional loan applications. And because CDFIs disburse loans instead of grants, they offer a sustainable solution to financing and teach borrowers how to manage budgets and pay back their loans.