Invaluable support to people in our neighborhoods who want to build financial security–also to actually finance rehabbing vacant buildings and building new houses on vacant lots in our low/moderate income area.
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.
Invaluable support to people in our neighborhoods who want to build financial security–also to actually finance rehabbing vacant buildings and building new houses on vacant lots in our low/moderate income area.
CDFI funds play a crucial role in supporting small businesses and individuals aspiring to become homeowners throughout South Dakota. These funds provide much-needed financial resources to communities, offering opportunities for growth and stability where traditional financial institutions may not reach. By supporting small businesses, CDFI funds foster economic development and job creation, helping to strengthen local economies. Additionally, they enable homebuyers to achieve their dreams of homeownership, promoting long-term community stability and wealth-building. Without the critical assistance from CDFI funds, many entrepreneurs and potential homeowners in South Dakota would face significant barriers to success.
“Northern Nevada Community Housing (NNCH) develops, owns, and manages high-quality affordable housing coupled with supportive services for those most in need in our community,” said Jocelyn Kendall, assistant executive director, NNCH, to the Opportunity Finance Network. Below-market interest rate financing, such as the financing provided by NewWest [CDFI], allows NNCH to create and preserve this housing and provide support resources to our residents.”
CDFIs and Credit Unions help people of modest means when other FI’s do not. We are the last bastion of hope in banking for the little guy.