The Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act was introduced by Senators Steve Daines (R-MT) and Mark Warner (D-VA) with 30 bipartisan Senate co-sponsors, including Senate Majority Leader Chuck Schumer, Finance Committee leaders Mike Crapo and Ron Wyden, and members from across rural and urban states. This bill reflects broad, cross-aisle support for strengthening the Community Development Financial Institutions (CDFI) ecosystem.
CDFIs are the front-line lenders in communities that have historically lacked access to traditional capital – from rural towns to Native communities, from small business owners to aspiring homeowners. The AFFORD Act unifies and builds on key legislative priorities that the CDFI Coalition has championed:
🔹 Enhanced transparency and oversight of the Treasury Department’s CDFI Fund to ensure programs are accountable, effective, and responsive to real community needs.
🔹 Extension and improvement of the CDFI Bond Guarantee Program so smaller CDFIs can access long-term, below-market capital – a critical tool for scaling impact.
🔹 Reauthorization of the liquidity enhancement program to expand lending capacity and help CDFIs reach even more underserved markets with flexible financing.
For mission-driven lenders, this legislation affirms a national commitment to invest in communities that have too often been left behind. By modernizing core CDFI tools and expanding their reach, the AFFORD Act would help unlock new capital for affordable housing, small business growth, community facilities, and strong local economies.
As the CDFI Coalition and its members continue to advocate for policies that strengthen community finance, the introduction of the AFFORD Act is a powerful step toward ensuring access to capital and opportunity for all Americans