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.
Since its inception in 1994, PeopleFund – a CDFI and SBA Lender – has deployed more than $1.2 Billion in financial assistance in areas that needed jobs and revitalization in Texas. Almost 60% of this growth took place in the last 5 years. We are also the managing member of the Veteran Loan Fund, a collaborative effort of a growing number of CDFIs across the country supporting Veterans and Veteran spouses start and grow their businesses.
Our organization works in tandem with CDFI partners and members for the betterment of communities, business arena and society.
Throughout our tenure as a CDFI, (since 2010), KyHFH CDFI has been able to support our 31 nonprofit affordable housing entities with 0-2% loans for the construction of affordable single family housing units, capital equipment, staffing needs, energy efficiency upgrades, land acquisition, infrastructure, commercial property and neighborhood revitalization. Without the funding, support and brand of the CDFI, serving low-income clients, neighborhoods and entire counties in Kentucky would not be possible. To date, Habitat in KY has provided close to 8,000 units of affordable housing that serves a population who earn 80% and below the AMI, but also, our largest client base earns 30-60% AMI. Many of our clients transition from renters to first-time homebuyers as well as moving from a pre-1976 mobile home to a traditionally built housing unit, making their lives safer, more affordable and energy efficient. Who else could provide this type of support as well as improvements to our communities than a CDFI. Without the CDFI Fund, none of this would have taken place in the past, currently or in the future.
CDFI funds play a crucial role in supporting small businesses and individuals aspiring to become homeowners throughout South Dakota. These funds provide much-needed financial resources to communities, offering opportunities for growth and stability where traditional financial institutions may not reach. By supporting small businesses, CDFI funds foster economic development and job creation, helping to strengthen local economies. Additionally, they enable homebuyers to achieve their dreams of homeownership, promoting long-term community stability and wealth-building. Without the critical assistance from CDFI funds, many entrepreneurs and potential homeowners in South Dakota would face significant barriers to success.