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.
We are proud to be one of the many CDFIs channeling capital into otherwise economically underserved communities nationwide. Since 2017, we have financed over 3,000 affordable homes, aided by awards from the CDFI Fund. The CDFI Fund’s programs are essential to our work and our ability to attract and leverage private capital.
It has been proven over the decades that the CDFI industry has been mega critical to the flow of capital in this country, specifically in disinvested communities. By appropriating at least $354M for the CDFI Fund, this directly supports the deployment and capacity building of not only CDFIs but the millions of small businesses that hire and create jobs, erect infrastructure, rebuild neighborhood corridors, and partner across industries for improved quality of life. If we are serious about reducing the wealth gap for increased positive impacts, supporting CDFIs is extremely important.
CDFIs are extremely effective at providing access to capital and services to communities in rural and metropolitan areas, raising and leveraging private funding, to create effective solutions to meet the most challenging needs.
CDFIs provide access to capital for individuals who more traditional financial institutions would otherwise deny. The capital provided allows them to sustain or scale their business.