The programs of the CDFI Fund play a vital role in expanding our capacity to create economic opportunities for members in CA-18 and CA-19. Support from the CDFI Fund through awards and investments has enabled us to expand our micro lending platform and affordable housing opportunities with support from FA, RRP, and ERP awards.
CDFIs fill a critical void in funding the development of affordable housing. They provide below market interest rates, have flexible terms, and can respond to critical funding needs with more flexibility than a traditional bank/credit union.
Century is a CDFI, and we finance affordable housing and provide capital to underserved communities. We urge continuation of investment and support the appropriation of critical funds to produce more housing.