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.
[The CDFI Fund] provides a vital funding source which enables our organization to sustain and start-up businesses in our rural SD communities. Without that support, our rural communities would die because there would be nothing to keep our young families in the communities. The opportunities they need for their careers would be gone.
The CDFI FA/TA funding is critical to making projects happen and creating opportunities for employment. The NMTC program is critical to important real estate projects in areas like Opportunity Zones and other under invested areas.
Throughout our tenure as a CDFI, (since 2010), KyHFH CDFI has been able to support our 31 nonprofit affordable housing entities with 0-2% loans for the construction of affordable single family housing units, capital equipment, staffing needs, energy efficiency upgrades, land acquisition, infrastructure, commercial property and neighborhood revitalization. Without the funding, support and brand of the CDFI, serving low-income clients, neighborhoods and entire counties in Kentucky would not be possible. To date, Habitat in KY has provided close to 8,000 units of affordable housing that serves a population who earn 80% and below the AMI, but also, our largest client base earns 30-60% AMI. Many of our clients transition from renters to first-time homebuyers as well as moving from a pre-1976 mobile home to a traditionally built housing unit, making their lives safer, more affordable and energy efficient. Who else could provide this type of support as well as improvements to our communities than a CDFI. Without the CDFI Fund, none of this would have taken place in the past, currently or in the future.
Bridge and other CDFIs support business creation and expansion as well as the construction and redevelopment of housing in low to moderate income neighborhoods. These are activities not offered or delivered by other financial institutions to extent provided by CDFI’s.