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.
Our CDFI certification and money received has allowed us the opportunity to be of service to the most underserved and marginalized in our community.
Thanks to the Bank Enterprise Award Fund, United is able to issue responsible credit and financial services to underserved customers… BEA is critical for offsetting the cost of running a small‑dollar loan program.