CDFIs are absolutely critical to provide funds for residential and business loans which grow our economy.
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 absolutely critical to provide funds for residential and business loans which grow our economy.
CDFIs create financing that banks won’t do. We have used CDFI funds for mobile home financing on older mobile homes. The portfolio has a 100% success rate with the funds coming back, revolving and helping another family with affordable housing option.
Supporting Community Development Financial Institutions (CDFIs) is crucial for economic growth and access to capital in underserved areas. CDFIs provide essential financial services, stimulating local economies by offering affordable loans to small businesses and nonprofits. Increased funding for CDFIs ensures expanded outreach and impact, promoting economic stability and development. Enhanced budgetary support for CDFIs is a strategic investment that benefits the nation’s economic infrastructure.
Bridge and other CDFIs support business creation and expansion as well as the construction and redevelopment of housing in low to moderate income neighborhoods. These are activities not offered or delivered by other financial institutions to extent provided by CDFI’s.