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 former executive of a CDFI I saw firsthand the job creation and the dreams of many clients supported by our organization. We hired amazing financial mission driven talent and we supported hard working entrepreneurs who were seeking opportunities in their community and for their families. The recent EO will not make America great again, it will hurt Americans who are resilient, innovative and a fabric of their communities.
Our CDFI is housed in a non-profit dedicated to cultivating entrepreneurial leadership within underserved communities to increase their economic mobility. CDFIs are crucial to this work and bridging the gap to help entrepreneurs access funding before being able to approach a traditional lender for a myriad of reasons such as lack of credit history, being underbanked or never banking, lacking access to financial literacy resources and education around borrowing process. Being able to combine training resources with microlending support enables our org to further serve these populations in a way that best meets their needs and creates economic growth and jobs within our local communities.
CDFIs are boots on the grown and first responders standing by low-income communities every day, particularly during difficult economic times, to support small businesses with flexible loans and financial education and technical assistance. All this, to grow small businesses and feed the economy.
Small businesses are the backbone of the US economy. One estimate is that Small businesses