I have watched how CDFIs support small business owners and home owners where banks and credit unions could not. The amount banks charge is often above what people can pay, CDFIs that are nonprofits even the playing field for them by investing in the people and not company profits.
CDFIs solve for capital access gaps that increase economic opportunities for people and communities who have been excluded from that opportunity.
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”