CDFIs are very good stewards of federal dollars, both in terms of leveraging other resources and by making loans and investments with great repayment history.
CDFIs are very good stewards of federal dollars, both in terms of leveraging other resources and by making loans and investments with great repayment history.
CDFIs have a demonstrated track record of success: they often leverage every federal dollar to attract up to 12 times that amount in private investment, reaching borrowers that traditional banks overlook. Whether it’s a veteran-owned business in Montana, a farm in the Central Valley, or a childcare provider in the South Bronx, CDFIs meet communities where they are, providing not only loans but financial education, technical assistance, and long-term support. This is not a partisan issue. Nearly every congressional district in America benefits from the work of CDFIs, with 92% of House districts having at least one CDFI. CDFIs are an engine of local resilience-supporting job creation, small business formation, and upward mobility.
Century is a CDFI, and we finance affordable housing and provide capital to underserved communities. We urge continuation of investment and support the appropriation of critical funds to produce more housing.