As reported yesterday, the SBA will reopen the Paycheck Protection Program (PPP) next week. As a part of a call they held with trade leaders this morning, SBA and Treasury staff indicated that Community Financial Institutions (CFIs), which includes CDFIs, will be provided a brief head start for submitting loan applications, including First Draw PPP […]
Ayrianne Parks
CDFI Fund Looks to Implementation of COVID Response Programming
The Fiscal Year (FY) 2021Consolidated Appropriation Act included $900 billion for assistance to people and communities coping with the economic and social consequences of the pandemic. As we reported earlier, $12 billion was made available to the Treasury Department and the CDFI Fund, including $9 billion for capital investments to Minority Depository Institutions (MDIs), and $3 […]
Congressional Action Needed to Assist Small Business
The Stanford Institute for Economic Policy and Research found, in the midst of the COVID-19 crisis: “African-American businesses were hit especially hard experiencing a 41 percent drop. Latinx business owners fell by 32 percent, and Asian business owners dropped by 26 percent. Simulations indicate that industry compositions partly placed these groups at a higher risk […]
CDFIs Create Access to Food During Times of Distress
Access to affordable, healthy foods is a challenge in many low-income communities, from large urban neighborhoods, to suburban and rural areas, as well as in communities of color. CDFIs have been working to create access to healthy foods and address food insecurity for decades. With the coronavirus pandemic impacting many families’ and individuals’ resources, businesses […]
Kicking off the #CDFI Week of Action!
Join the CDFI Coalition and CDFI community this week from June 8-14, in our effort to increase resources for CDFIs in COVID-19 related federal legislation. The House-passed Health and Economic Recovery Omnibus Emergency Solutions, or HEROES Act (H.R. 6800), proposes $1 billion in funding for the CDFI Fund, which is expected to be taken up […]
2020 CDFI Coalition Institute Wrap-Up
The CDFI Coalition, representing the nation’s Community Development Financial Institutions (CDFIs), held its 2020 Annual CDFI Institute on February 27 and 28 in Washington, D.C. This year’s event drew one of the event’s largest audiences, with nearly 200 people attending over the two days. Members of Congress, congressional staff, federal agency officials and key staff, as well […]
CDFI Fund: 25 Years Revitalizing Communities and Providing Access to Opportunity Where It’s Needed Most
Twenty-five years ago today, President Bill Clinton signed the Riegle Community Development and Regulatory Improvement Act of 1994 into law, establishing the CDFI Fund. The legislation, proposed by President Clinton and championed in Congress by Senator Don Riegle (D-MI), sought to increase access to capital for small businesses, affordable housing, the availability of commercial real […]
CDFI Coalition Celebrates 25 Years of the CDFI Fund at the 2019 Institute
The CDFI Coalition, representing the nation’s Community Development Financial Institutions (CDFIs), held its 25th Annual Institute on March 13 and 14 in Washington, D.C. This year’s event drew one of audiences, with some 170 people in attendance. Members of Congress, federal agency officials, and key staff spoke and participated in panels on policy and resource […]
World Food Day: Highlighting CDFIs Invested in Improving Healthy Food Access
Today, October 16th, is World Food Day. The day is organized by the Food and Agriculture Organization of the United Nations and commemorates its founding in 1945. The theme this year is #ZeroHunger, which highlights the goal to end world hunger by 2030. Zero hunger means working together to ensure everyone, everywhere, has access to the safe, healthy and […]