CDFIs create impactful changes in communities and provide catalytic growth and changes which provide jobs, particularly in low and moderate in come areas.
CDFIs create impactful changes in communities and provide catalytic growth and changes which provide jobs, particularly in low and moderate in come areas.
CDFIs provide affordable capital to borrowers that may not be able to access credit from mainstream financial institutions. Unlike other non-bank options, CDFI loans are affordable and transparent. And CDFIs take a holistic approach, prioritizing the wellbeing of individual clients and the borrowers that live within them.
As an emerging CDFI serving the state of MN with small dollar consumer lending, this funding is essential to us to help combat predatory lending that strips wealth from low-income communities and allows us to provide stabilizing capital to communities to stay housed, employed, and (re)build credit to reach their asset building goals (e.g. car and home ownership) for the future.