CDFIs have had strong bipartisan support at the federal level and I urge Congress to continue to support this important economic driver.
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 have had strong bipartisan support at the federal level and I urge Congress to continue to support this important economic driver.
We are proud to be one of the many CDFIs channeling capital into otherwise economically underserved communities nationwide. Since 2017, we have financed over 3,000 affordable homes, aided by awards from the CDFI Fund. The CDFI Fund’s programs are essential to our work and our ability to attract and leverage private capital.
Our CDFI is housed in a non-profit dedicated to cultivating entrepreneurial leadership within underserved communities to increase their economic mobility. CDFIs are crucial to this work and bridging the gap to help entrepreneurs access funding before being able to approach a traditional lender for a myriad of reasons such as lack of credit history, being underbanked or never banking, lacking access to financial literacy resources and education around borrowing process. Being able to combine training resources with microlending support enables our org to further serve these populations in a way that best meets their needs and creates economic growth and jobs within our local communities.
I strongly urge Congress to support the funding for the Department of the Treasury’s CDFI Fund….As a governing board member of Central States Development Partners, Inc., a national, certified Community Development Entity (CDE), I can personally attest to the measurable and lasting impact the CDFI Fund programs have on Main Street America. In my work with both Economic Growth Corporation and Central States Development Partners, I have witnessed firsthand how targeted federal investment through the CDFI Fund acts as a catalyst for private-sector growth in communities that need it most. These dollars support job-creating projects, from manufacturing, healthcare, and community facilities that increase access to vital community services needed within severely and deeply distressed communities.