This funding is crucial to meeting the needs of those who are hard-working, dedicated members of our communities across Pennsylvania, who often lack resources from other financial institutions to meet their needs to maintain employment, housing, and enjoyment in our communities. Without this funding, more people will be in need of additional subsidies to maintain living and thriving in our communities. Eliminating this funding will be far more expensive than continuing it.
CDFIs are boots on the grown and first responders standing by low-income communities every day, particularly during difficult economic times, to support small businesses with flexible loans and financial education and technical assistance. All this, to grow small businesses and feed the economy.
CDFIs are an important to give access to those who can’t get access to capital from traditional banks and provides important Technical assistance to borrowers pre and post loan as needed.