I have watched how CDFIs support small business owners and home owners where banks and credit unions could not. The amount banks charge is often above what people can pay, CDFIs that are nonprofits even the playing field for them by investing in the people and not company profits.
CDFIs fill a vital need in Michigan by supporting community and economic development in under-served areas. Continuing to fund CDFIs will allow them to provide financial support for communities that would otherwise be left behind.
CDFIs provide an important unique opportunity support communities by creating opportunities for underbanked companies and individuals to pull themselves up by their bootstrap by creating new businesses, housing and strengthening financial composites