CDFIs are a great, cost-effective way to support development in rural, suburban and urban communities in a public/private finance model heavily weighted to the private side. In our case in enabled locating our manufacturing plant in an area where people needed jobs.
As the Chair of the Board I see the positive impacts of our lending and business advising daily. Our work is integral to the health and vibrancy of our local community. Our support of emerging entrepreneurs and small businesses looking to grow fills an existing gap in the private sector and provides accessible options for many businesses.
Since its inception, the CDFI Fund has been a staunch supporter of CDFIs like MEDA whose mission is focused on rebuilding and stabilizing some of the most impoverished and underserved communities across the country.