CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
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.
CDFIs are boots on the grown and first responders standing by low-income communities every day, particularly during difficult economic times, to support small businesses with flexible loans and financial education and technical assistance. All this, to grow small businesses and feed the economy.
CDFIs are a lifeline for many small business owners who cannot get traditional financing from large banks.