CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
CDFIs assist businesses and individuals that often cannot access bank capital. Especially in rural SD access to capital is difficult and the # of small banks have been reduced.
I support Community Development Financial Institutions (CDFIs) because they are essential in promoting equitable economic growth and community development. At GROW SD, we see how CDFIs empower underserved populations by providing tailored financial solutions that create housing stability and sustainable businesses. Their commitment to reinvesting in local economies aligns with our mission to enhance community well-being. By supporting CDFIs, we can help build stronger, more resilient communities where everyone has the opportunity to thrive.
True core CDFIs are the leaders and support mechanisms in rural communities. They are the local trusted partners that positively impact individuals, companies and communities to build equity and hope into areas that are difficult to develop.
[The CDFI Fund] provides a vital funding source which enables our organization to sustain and start-up businesses in our rural SD communities. Without that support, our rural communities would die because there would be nothing to keep our young families in the communities. The opportunities they need for their careers would be gone.