California Stories and Data

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.

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.

CDFIs fill a critical void in funding the development of affordable housing. They provide below market interest rates, have flexible terms, and can respond to critical funding needs with more flexibility than a traditional bank/credit union.