The CDFI industry has grown thanks to broad bipartisan support over the last 25 years. We’re counting on Congress to keep this essential economic development engine moving forward.
The CDFI industry has grown thanks to broad bipartisan support over the last 25 years. We’re counting on Congress to keep this essential economic development engine moving forward.
I have watched how CDFIs support small business owners and home owners where banks and credit unions could not. The amount banks charge is often above what people can pay, CDFIs that are nonprofits even the playing field for them by investing in the people and not company profits.
Since its inception in 1994, PeopleFund – a CDFI and SBA Lender – has deployed more than $1.2 Billion in financial assistance in areas that needed jobs and revitalization in Texas. Almost 60% of this growth took place in the last 5 years. We are also the managing member of the Veteran Loan Fund, a collaborative effort of a growing number of CDFIs across the country supporting Veterans and Veteran spouses start and grow their businesses.