As a CDFI Lender, we are able to help small businesses, and underserved areas survive. Without this help, many of these businesses would not be able to continue to exist.
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.
As a CDFI Lender, we are able to help small businesses, and underserved areas survive. Without this help, many of these businesses would not be able to continue to exist.
I’m a contract CFO for multiple smaller CDFIs around the US who are supporting those in our communities that are starting small businesses, trying to get financing to buy a vehicle to get to a job or earn a living in the gig economy, and small developers bringing affordable housing onto the market. No one else is making this financing available. I work to see thriving communities here in the US that make our local economies vibrant and healthy. The CDFI Fund makes that possible.
CDFIs solve for capital access gaps that increase economic opportunities for people and communities who have been excluded from that opportunity.
The shift in business models among banks and credit unions—along with ongoing consolidation and the retreat from rural markets—has left a growing number of entrepreneurs without access to traditional financing. In response, MoFi and other CDFIs have become critical entry points for future bank customers.