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.
We have a critical community project that we are planning to build this year using CDFI funds. It will create new jobs and help small business owners.
I appreciate the aspect of the program that puts decision-making in the hands of non-governmental institutions. I think this facilitates efficient use of tax-payer dollars.