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 are the oil in the engine of our economy. They support small businesses with patient flexible capital, when they need it the most; when they are starting out. Without support for these institutions, small businesses will be blocked by high fees, high interest rates, demand payments, and other predatory behavior that impedes and tanks their efforts to grow the US economy.
This funding is crucial to meeting the needs of those who are hard-working, dedicated members of our communities across Pennsylvania, who often lack resources from other financial institutions to meet their needs to maintain employment, housing, and enjoyment in our communities. Without this funding, more people will be in need of additional subsidies to maintain living and thriving in our communities. Eliminating this funding will be far more expensive than continuing it.
We are a CDFI focused on small business lending. We are giving people who deserve a shot at the American dream – but can’t get it because big banks don’t do small business loans or character loans anymore. Small businesses are important sources of jobs, income and innovation.
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.