CDFIs have had strong bipartisan support at the federal level and I urge Congress to continue to support this important economic driver.
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 have had strong bipartisan support at the federal level and I urge Congress to continue to support this important economic driver.
CDFIs are essential to ensuring all communities and residents have access to safe, affordable credit when traditional financial institutions are not able to do so. These market-based institutions know their communities needs best and leverage private sector investment. Building bridges between the public and private sectors is what CDFIs do well and we need to preserve the expertise of these organizations by ensuring a robust funding of $324 million for the CDFI Fund.
This is greater than just the CDFI Fund. There are countless of small businesses that cannot get financial support in a traditional lending institution.
I have consistently heard positive news and success stories about CDFIs in Idaho and across the country, and their responsiveness to the small business community.