CDFIs are needed throughout the country to help people make their dreams come true by becoming a homeowner.
CDFIs are needed throughout the country to help people make their dreams come true by becoming a homeowner.
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.
CDFIs provide responsible and affordable loans to individuals, businesses, and organizations that are unable to obtain financing from conventional banks – not because they aren’t worthy of a loan, but because their risk profile doesn’t fit the more rigid criteria used by conventional banks. This is an essential service for making sure loan capital reaches deserving borrowers with unconventional loan applications. And because CDFIs disburse loans instead of grants, they offer a sustainable solution to financing and teach borrowers how to manage budgets and pay back their loans.