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
Since 2008, CDFI Sustainable Neighborhoods has lent over $600 million to New York State homeowners at risk of losing their homes to foreclosure. Our lending programs have stabilized tens of thousands of households, thus preventing family displacement that leads to personal financial hardship and expenditures of substantial government funding needed to prevent or address homelessness across New York’s rural, suburban, and urban regions.
CDFIs provide access to critical financial services and education in a way that’s accessible to and designed for low income and low wealth people and families. CDFIs help strengthen the US economy by expanding opportunities for homeownership, small business, and consumer credit., and federal grants to CDFIs are leveraged many times over by private capital. Due to the success of this work, the CDFI Fund has been sustained by broad, bipartisan support for 25 years.