CDFIs can provide financial tools tailored to the needs of their communities. As a non-profit CDFI serving low-income rural communities, this is very valuable.
CDFIs can provide financial tools tailored to the needs of their communities. As a non-profit CDFI serving low-income rural communities, this is very valuable.
CDFIs provide responsible and affordable loans to individuals, businesses, and organizations that are unable to obtain financing from conventional banks – not because they aren’t worthy of a loan, but because their risk profile doesn’t fit the more rigid criteria used by conventional banks. This is an essential service for making sure loan capital reaches deserving borrowers with unconventional loan applications. And because CDFIs disburse loans instead of grants, they offer a sustainable solution to financing and teach borrowers how to manage budgets and pay back their loans.
CDFIs are boots on the grown and first responders standing by low-income communities every day, particularly during difficult economic times, to support small businesses with flexible loans and financial education and technical assistance. All this, to grow small businesses and feed the economy.