The CDFI industry has grown thanks to broad bipartisan support over the last 25 years. We’re counting on Congress to keep this essential economic development engine moving forward.
The CDFI industry has grown thanks to broad bipartisan support over the last 25 years. We’re counting on Congress to keep this essential economic development engine moving forward.
CDFIs are a great, cost-effective way to support development in rural, suburban and urban communities in a public/private finance model heavily weighted to the private side. In our case in enabled locating our manufacturing plant in an area where people needed jobs.
CDFIs provide responsible and affordable loans to individuals, businesses, and organizations that are unable to obtain financing from conventional banks – not because they aren’t worthy of a loan, but because their risk profile doesn’t fit the more rigid criteria used by conventional banks. This is an essential service for making sure loan capital reaches deserving borrowers with unconventional loan applications. And because CDFIs disburse loans instead of grants, they offer a sustainable solution to financing and teach borrowers how to manage budgets and pay back their loans.