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.
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 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.
We have seen thousands of businesses receive grants and loans through CDFIs that have gone on to become successful businesses, contributing significantly to their local economies. Most of these businesses would not have received this capital from other financial institutions, so without this CDFI funding these thousands of businesses would not have been started or would have run out of initial funding before hitting the critical mass necessary to be successful. It means thousands of businesses, employers and employees are now gainfully employed, contributing to the economy and paying taxes that otherwise would not have happened.
CDFIs are a critical link for many low-income communities and individuals for financing that is not available from conventional sources.
CDFIs provide extraordinary support to many people who otherwise would not be able to access ordinary banking and credit opportunities. They are frequently located in banking deserts”