Sign-on Letter – CDFI Coalition

Make your voice heard and tell Congress to support CDFI Fund Appropriations! The following sign-on letter is open to CDFIs, businesses, nonprofits, trade associations, organizations, elected officials, CDFI borrowers, and any one else who supports the work of CDFIs.

The letter closes February 7, 2025.

Your Name

Your Email

Your business or organization as you would like it listed on the letter

Organization City

Organization State

Organization Zip

What is the nature of your organization?

CDFI CDFI Commercial Borrower (Businesses, nonprofits, etc.) CDFI Consumer Borrower (Individual) CDFI Stakeholder (Trade association, consulting company, law firm, accounting firm, investor, foundation, bank, etc.) State or Local Elected Official or Government Agency Head CDFI Board Member (If you would like to be listed separately from your organization) Other CDFI Supporter

Optional: Why do you support CDFIs?

Other comments

The Letter

Dear Senator/Dear Representative:

We write in support of a final Fiscal Year 2025 appropriation of $354 million for the Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) as recommended by the Senate Appropriations Committee.

The CDFI Fund generates economic opportunity in underserved and distressed areas by leveraging private investment and expanding access to credit, capital, and financial services through the investment in and assistance to a nationwide network of Community Development Financial Institutions (CDFIs). The CDFI Fund also supports the New Markets Tax Credit Program, which is awarded to approved community development entities across the nation, to leverage private capital investment in communities with high rates of poverty and unemployment.

In every state across the nation, CDFIs provide financial services to economically distressed communities, outside the economic maintain stream. CDFIs provide patient flexible capital in urban and suburban neighborhoods and rural and tribal communities.

Through their unique public-private partnership model, CDFIs leverage over $12 in private capital for every $1 in federal support. CDFIs are filling the deep credit gap encountered in many communities providing financing to small businesses, affordable housing, and community facilities, creating jobs and business opportunities and promoting revitalization.

Since 2010, CDFI Program Award recipients have originated more than $298 billion in loans and investments—all in economically distressed rural and tribal communities and urban and suburban neighborhoods lacking access to traditional lending or banking institutions or experiencing pervasive disinvestment. These resources have financed over 1.3 million businesses and the development or preservation of over 557,000 affordable homes.

We project that an appropriation along the lines of the Senate Appropriation Committee recommendation will result in $4 billion in new investment in low-income communities, over 34,000 affordable homes created or preserved, thousands of loans and investments in childcare centers, health clinics, and community facilities, nearly 700,000 consumer and homeownership loans, and more than 100,000 loans and investments in businesses in target markets. 

We strongly urge continued investment in the work of the CDFI Fund by providing it with an FY 2025 appropriation of at least $354 million.

Sincerely,