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.
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.
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.
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.
These funds are vital to increase the capacity to serve low to moderate income families and their purchase of safe, fit, and affordable housing.
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.