CDFIs make banking accessible for entrepreneurs and small businesses that often lack the institutional knowledge and networks to feel confident in the lending space. CDFIs are a critical tool that helps diversify our economy.
CDFIs make banking accessible for entrepreneurs and small businesses that often lack the institutional knowledge and networks to feel confident in the lending space. CDFIs are a critical tool that helps diversify our economy.
Our local CDFI has been essential to supporting our organization, our members and so many people in our community who have struggled to access capital and financial services. They understand how to work with our communities and have assisted so many first time home-buyers and new businesses in getting on track and being financially stable. For many of our members this is where they’ve opened their first bank account and learned how to manage their finances.
As a CDFI, we are able to provide loans and investments to borrowers for projects that improve the quality of life in our community’s low to moderate income census tracts. Frequently, these transactions are not supported by financial institutions directly under competitive terms and conditions that we as a CDFI can make.