OH12 Stories and Data

As a consulting firm working closely with CDFIs and economic development partners across the country, SBC Small Business Consulting supports [CDFI Fund appropriations]. The clarity and continuity of these federal programs are critical for ensuring small businesses in underserved communities receive the technical assistance and capital they need to grow. We appreciate the Treasury’s commitment to supporting CDFIs and encourage swift action to maintain momentum in local economic development efforts.

The nonprofit community depends upon the work of CDFIs to help with investing in communities that are most in need. Whether that be affordable housing, community facilities, community health centers, and economic development, CDFIs can provide the capital that otherwise would not support such critical projects. Particularly important are the investments that CDFIs contribute to rural communities, and other under-invested areas, such as Appalachia. For decades, CDFIs in some of the most economically distressed regions of the country have been addressing the employment and housing, banking and infrastructure needs of local people and places. From the development of entrepreneurs who create jobs to the expansion of safe affordable housing; from increased access to financial services to more readily accessible drinking water and public infrastructure; CDFIs leverage the power of finance to import capital into communities and regions that otherwise suffer from disinvestment. Through these actions, CDFIs strengthen local economies, generate wealth that sticks, and foster agency and power among local people to determine their own destiny.

Our CDFI improves the quality of the communities we serve by creating quality jobs through the small business that we support.