CDFIs provide the flexible and essential financing for community development, affordable housing, small business and nonprofits that other lenders dont serve. They connect communities with capital.
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 provide the flexible and essential financing for community development, affordable housing, small business and nonprofits that other lenders dont serve. They connect communities with capital.
CDFIs are essential to ensuring all communities and residents have access to safe, affordable credit when traditional financial institutions are not able to do so. These market-based institutions know their communities needs best and leverage private sector investment. Building bridges between the public and private sectors is what CDFIs do well and we need to preserve the expertise of these organizations by ensuring a robust funding of $324 million for the CDFI Fund.
CDFIs have been a vital role in our community by providing low-cost capital to businesses. Capital is not readily available in the rural area I live, so it’s imperative that CDFIs continue to receive funding that helps support small businesses and continue to grow small communities.
We are a nonprofit Chamber of Commerce that does microlending for small businesses. We work with a CDFI bank and are trying to get CDFI certification.