January 2021 Stories and Data

CDFIs have a demonstrated track record of success: they often leverage every federal dollar to attract up to 12 times that amount in private investment, reaching borrowers that traditional banks overlook. Whether it’s a veteran-owned business in Montana, a farm in the Central Valley, or a childcare provider in the South Bronx, CDFIs meet communities where they are, providing not only loans but financial education, technical assistance, and long-term support. This is not a partisan issue. Nearly every congressional district in America benefits from the work of CDFIs, with 92% of House districts having at least one CDFI. CDFIs are an engine of local resilience-supporting job creation, small business formation, and upward mobility.

[The CDFI Fund is an] incredibly important economic development agent that helps all small businesses across the country to grow, create jobs, become bankable and strengthen our economy.

Century is a CDFI, and we finance affordable housing and provide capital to underserved communities. We urge continuation of investment and support the appropriation of critical funds to produce more housing.