Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
This funding is crucial to meeting the needs of those who are hard-working, dedicated members of our communities across Pennsylvania, who often lack resources from other financial institutions to meet their needs to maintain employment, housing, and enjoyment in our communities. Without this funding, more people will be in need of additional subsidies to maintain living and thriving in our communities. Eliminating this funding will be far more expensive than continuing it.
As a consulting firm working closely with CDFIs and economic development partners across the country, SBC Small Business Consulting supports [CDFI Fund appropriations]. The clarity and continuity of these federal programs are critical for ensuring small businesses in underserved communities receive the technical assistance and capital they need to grow. We appreciate the Treasury’s commitment to supporting CDFIs and encourage swift action to maintain momentum in local economic development efforts.
CDFIs are filling the deep credit gap encountered in many communities providing financing to small businesses, affordable housing, and community facilities, creating jobs and business opportunities and promoting revitalization.
CDFIs are important for local economic development.