The shift in business models among banks and credit unions—along with ongoing consolidation and the retreat from rural markets—has left a growing number of entrepreneurs without access to traditional financing. In response, MoFi and other CDFIs have become critical entry points for future bank customers.
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.
I have chaired our local board and our foundation is extremely supportive of the difference [CDFI Fund awards] have made in the Dayton community!