CDFIs are a great, cost-effective way to support development in rural, suburban and urban communities in a public/private finance model heavily weighted to the private side. In our case in enabled locating our manufacturing plant in an area where people needed jobs.
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.
The work of CDFIs and the CDFI Fund is critical for so many small businesses, real estate developers, nonprofits, and communities across the United States.