I support CDFIs because they provide needed capital for small businesses and first-time homebuyers. This capital allows people to build wealth and/or provide a product/service to their community, which leads to economic prosperity for the local area. Because the financing is provided as a loan, clients are equally invested in the success of their home/business.
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.
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.