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Detroit CDFI coalition amplifies positive outcomes in communities across the city

Detriot,
Michigan

Cinnaire, Invest Detroit

Utah Community Action Kearns Head Start

Salt Lake City,
Utah

Community Development Finance Alliance

Kearns Library

Salt Lake City,
Utah

Community Development Finance Alliance

Smith County Memorial Hospital

Smith Center,
Kansas

Central Bank of Kansas City

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admin Fact Sheet

Supporting Community Development Financial Institutions (CDFIs) is crucial for economic growth and access to capital in underserved areas. CDFIs provide essential financial services, stimulating local economies by offering affordable loans to small businesses and nonprofits. Increased funding for CDFIs ensures expanded outreach and impact, promoting economic stability and development. Enhanced budgetary support for CDFIs is a strategic investment that benefits the nation’s economic infrastructure.

-T. Jay Diallo, First Community Capital, Inc., Riverside, CA

Native CDFIs are crucial to provide the financing, investment and literacy services to improve economic and social conditions in Native communities where inadequate or non-existent mainstream financial services are commonplace. We are seeing the positive impacts of Native CDFIs across Alaska and Indian country through increased homeownership, profitable Native-owned small businesses and community improvement projects. Supporting Native CDFIs will build stronger, more resilient communities and better the economy for the nation.

-Senator Lisa Murkowski (R-AK)

CDFIs provide affordable capital to borrowers that may not be able to access credit from mainstream financial institutions. Unlike other non-bank options, CDFI loans are affordable and transparent. And CDFIs take a holistic approach, prioritizing the wellbeing of individual clients and the borrowers that live within them.

-Adam Safer, Carolina Small Business Development Fund, Raleigh, NC

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