CDFIs provide access to capital for individuals who more traditional financial institutions would otherwise deny. The capital provided allows them to sustain or scale their business.
CDFIs provide access to capital for individuals who more traditional financial institutions would otherwise deny. The capital provided allows them to sustain or scale their business.
CDFI funds are frequently the only source of funding and lending available to small, scaled community-oriented development in Minneapolis. Without access to those opportunities companies like mine would not be able to accomplish our development goals and create mid-scale projects related to the arts and market rate affordable housing.
It has been proven over the decades that the CDFI industry has been mega critical to the flow of capital in this country, specifically in disinvested communities. By appropriating at least $354M for the CDFI Fund, this directly supports the deployment and capacity building of not only CDFIs but the millions of small businesses that hire and create jobs, erect infrastructure, rebuild neighborhood corridors, and partner across industries for improved quality of life. If we are serious about reducing the wealth gap for increased positive impacts, supporting CDFIs is extremely important.