CDFIs are filling the deep credit gap encountered in many communities providing financing to small businesses, affordable housing, and community facilities, creating jobs and business opportunities and promoting revitalization.
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.
CDFIs are filling the deep credit gap encountered in many communities providing financing to small businesses, affordable housing, and community facilities, creating jobs and business opportunities and promoting revitalization.
CDFIs are very good stewards of federal dollars, both in terms of leveraging other resources and by making loans and investments with great repayment history.
CDFIs have a demonstrated track record of success: they often leverage every federal dollar to attract up to 12 times that amount in private investment, reaching borrowers that traditional banks overlook. Whether it’s a veteran-owned business in Montana, a farm in the Central Valley, or a childcare provider in the South Bronx, CDFIs meet communities where they are, providing not only loans but financial education, technical assistance, and long-term support. This is not a partisan issue. Nearly every congressional district in America benefits from the work of CDFIs, with 92% of House districts having at least one CDFI. CDFIs are an engine of local resilience-supporting job creation, small business formation, and upward mobility.
The programs of the CDFI Fund play a vital role in expanding our capacity to create economic opportunities for members in CA-18 and CA-19. Support from the CDFI Fund through awards and investments has enabled us to expand our micro lending platform and affordable housing opportunities with support from FA, RRP, and ERP awards.