CDFIs are the oil in the engine of our economy. They support small businesses with patient flexible capital, when they need it the most; when they are starting out. Without support for these institutions, small businesses will be blocked by high fees, high interest rates, demand payments, and other predatory behavior that impedes and tanks their efforts to grow the US economy.
CDFIs are filling in gaps in the capital markets that make financing more widely accessible and contribute to greater economic prosperity for all.
I support CDFIs because they serve as economic first responders in their communities. Native and consumer loan funds, in particular, are instrumental in lifting our most vulnerable populations out of poverty. These CDFIs provide essential financial services and resources, offering a lifeline to individuals and families who might otherwise be excluded from traditional banking systems. By empowering them to become bankable again, CDFIs help create pathways to financial independence and long-term prosperity.