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.
CDFIs are critical to driving real estate development in underserved communities and during challenging economic times. We have developed more than $100 M in projects using CDFI financing and it is a critical component to the capital stack, as well as important for delivering transformative projects to communities across the country.
As a Community Development Financial Institution Homewise has utilized resources available through the CDFI Fund to help New Mexicans achieve their dream of homeownership. With dollars from the CDFI Fund Homewise has provided approximately $10.5 million in amortizing loans and another $6.9 million in down payment assistance to 656 households. Of these households, 60% were under 80% AMI.
CDFI funds are frequently the only source of funding and lending available to small, scaled community-oriented development in Minneapolis. Without access to those opportunities companies like mine would not be able to accomplish our development goals and create mid-scale projects related to the arts and market rate affordable housing.
CDFIs are a lifeline for many small business owners who cannot get traditional financing from large banks.