CDFIs provide much-needed assistance to individuals and businesses in the state of South Dakota.
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.
CDFIs provide much-needed assistance to individuals and businesses in the state of South Dakota.
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.
CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
True core CDFIs are the leaders and support mechanisms in rural communities. They are the local trusted partners that positively impact individuals, companies and communities to build equity and hope into areas that are difficult to develop.