CDFIs stimulate the economy and is a vital segment of economic development and contributes directly to the GDP.
CDFIs stimulate the economy and is a vital segment of economic development and contributes directly to the GDP.
I strongly urge Congress to support the funding for the Department of the Treasury’s CDFI Fund….As a governing board member of Central States Development Partners, Inc., a national, certified Community Development Entity (CDE), I can personally attest to the measurable and lasting impact the CDFI Fund programs have on Main Street America. In my work with both Economic Growth Corporation and Central States Development Partners, I have witnessed firsthand how targeted federal investment through the CDFI Fund acts as a catalyst for private-sector growth in communities that need it most. These dollars support job-creating projects, from manufacturing, healthcare, and community facilities that increase access to vital community services needed within severely and deeply distressed communities.
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.