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.
CDFIs are critical to driving real estate development in underserved communities and during challenging economic times. We have developed more than $100 M in projects using CDFI financing and it is a critical component to the capital stack, as well as important for delivering transformative projects to communities across the country.
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.