Community Development Financial Institutions (CDFIs) are essential to supporting businesses that serve as the backbone and cultural foundation of their 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.
Community Development Financial Institutions (CDFIs) are essential to supporting businesses that serve as the backbone and cultural foundation of their communities.
I run a consulting firm that supports CDFIs in their critical work to ensure access to credit and enhanced economic opportunity and job creation. The unique public-private partnership model of CDFIs warrants bipartisan support.
I support CDFIs because they provide needed capital for small businesses and first-time homebuyers. This capital allows people to build wealth and/or provide a product/service to their community, which leads to economic prosperity for the local area. Because the financing is provided as a loan, clients are equally invested in the success of their home/business.
Since 2008, CDFI Sustainable Neighborhoods has lent over $600 million to New York State homeowners at risk of losing their homes to foreclosure. Our lending programs have stabilized tens of thousands of households, thus preventing family displacement that leads to personal financial hardship and expenditures of substantial government funding needed to prevent or address homelessness across New York’s rural, suburban, and urban regions.