We have a critical community project that we are planning to build this year using CDFI funds. It will create new jobs and help small business owners.
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 have a critical community project that we are planning to build this year using CDFI funds. It will create new jobs and help small business owners.
CDFIs benefit communities like Syracuse, which have experienced economic decline due to the withdrawal of large employers (like Carrier, GE, etc.) but are also seeing revitalization.
This is greater than just the CDFI Fund. There are countless of small businesses that cannot get financial support in a traditional lending institution.
CDFIs are essential to ensuring all communities and residents have access to safe, affordable credit when traditional financial institutions are not able to do so. These market-based institutions know their communities needs best and leverage private sector investment. Building bridges between the public and private sectors is what CDFIs do well and we need to preserve the expertise of these organizations by ensuring a robust funding of $324 million for the CDFI Fund.