CDFIs are essential for the economic vitality of rural communities like the ones we serve in Western North Carolina. The CDFI Fund represents an extremely effective and high-return investment.
CDFIs are essential for the economic vitality of rural communities like the ones we serve in Western North Carolina. The CDFI Fund represents an extremely effective and high-return investment.
Since 2008, CDFI Sustainable Neighborhoods has lent over $600 million to New York State homeowners at risk of losing their homes to foreclosure. Our lending programs have stabilized tens of thousands of households, thus preventing family displacement that leads to personal financial hardship and expenditures of substantial government funding needed to prevent or address homelessness across New York’s rural, suburban, and urban regions.
The shift in business models among banks and credit unions—along with ongoing consolidation and the retreat from rural markets—has left a growing number of entrepreneurs without access to traditional financing. In response, MoFi and other CDFIs have become critical entry points for future bank customers.