In Syracuse’s depressed economy, CDFIs have been a lifeline for aiding some of the most financially challenged residents and businesses. My credit union has leveraged CDFI funds to lift many households out of poverty, and we need this to continue.
In Syracuse’s depressed economy, CDFIs have been a lifeline for aiding some of the most financially challenged residents and businesses. My credit union has leveraged CDFI funds to lift many households out of poverty, and we need this to continue.
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 provide access to critical financial services and education in a way that’s accessible to and designed for low income and low wealth people and families. CDFIs help strengthen the US economy by expanding opportunities for homeownership, small business, and consumer credit., and federal grants to CDFIs are leveraged many times over by private capital. Due to the success of this work, the CDFI Fund has been sustained by broad, bipartisan support for 25 years.