Thanks to the Bank Enterprise Award Fund, United is able to issue responsible credit and financial services to underserved customers… BEA is critical for offsetting the cost of running a small‑dollar loan program.
Thanks to the Bank Enterprise Award Fund, United is able to issue responsible credit and financial services to underserved customers… BEA is critical for offsetting the cost of running a small‑dollar loan program.
As a CDFI, we support areas that have had historical underinvestment and see a transformative impact to those communities over time. The CDFI fund has an excellent private investment track record that accompanies the Treasury investment, leveraging the funds at an $8 or more for every $1 from the CDFI fund. This helps incentivize investment in these communities, bringing greater prosperity to all and putting all Americans to work that can access these programs.
CDFIs are extremely effective at providing access to capital and services to communities in rural and metropolitan areas, raising and leveraging private funding, to create effective solutions to meet the most challenging needs.