We cannot abandon Community Development Financial Institutions (CDFIs), who do measurable, positive work in our communities.
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.
We cannot abandon Community Development Financial Institutions (CDFIs), who do measurable, positive work in our communities.
CDFIs bridge an important gap in capital between fully bankable and not yet bankable deals reaching out to Socially and Economically Disadvantaged Individual business owners to grow our economy.
CDFIs provide responsible and affordable loans to individuals, businesses, and organizations that are unable to obtain financing from conventional banks – not because they aren’t worthy of a loan, but because their risk profile doesn’t fit the more rigid criteria used by conventional banks. This is an essential service for making sure loan capital reaches deserving borrowers with unconventional loan applications. And because CDFIs disburse loans instead of grants, they offer a sustainable solution to financing and teach borrowers how to manage budgets and pay back their loans.
Our CDFI certification and money received has allowed us the opportunity to be of service to the most underserved and marginalized in our community.