Want more state data? Check out CDFI Friendly America’s mobile-friendly CDFI Advocacy App for impacts from 2005-2023.
As an emerging CDFI serving the state of MN with small dollar consumer lending, this funding is essential to us to help combat predatory lending that strips wealth from low-income communities and allows us to provide stabilizing capital to communities to stay housed, employed, and (re)build credit to reach their asset building goals (e.g. car and home ownership) for the future.
CDFIs make otherwise impossible projects possible.
After coming from several years working in for-profit corporations into a CDFI, I’ve come to appreciate the real benefits CDFIs provide to communities at all levels. CDFIs provide consumer, commercial, mortgage loans, housing development, community facilities when needed, and more creative solutions.