CDFIs have assisted lower income people as they begin to work towards achieving the American Dream
CDFIs have assisted lower income people as they begin to work towards achieving the American Dream
CDFIs drive economic mobility in a way that positively transforms communities in many ways. It’s relevant for folks with a business/economy-first mentality to know: CDFIs create small businesses, develop financially stable households, and increase low-come families’ spending power. These are metrics that are meaningful to people of all political views. Investing in the CDFI Fund pays dividends to the broader economy. This is not a politically divisive line item in the budget. Fund the CDFI Fund!
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.