CDFIs are an important to give access to those who can’t get access to capital from traditional banks and provides important Technical assistance to borrowers pre and post loan as needed.
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 are an important to give access to those who can’t get access to capital from traditional banks and provides important Technical assistance to borrowers pre and post loan as needed.
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.
CDFI are critical in our outline areas. The focus areas and collaborative efforts with tribal members continue to be a success.
CDFIs are a lifeline for many small business owners who cannot get traditional financing from large banks.