President’s Budget Stories and Data

We have seen thousands of businesses receive grants and loans through CDFIs that have gone on to become successful businesses, contributing significantly to their local economies. Most of these businesses would not have received this capital from other financial institutions, so without this CDFI funding these thousands of businesses would not have been started or would have run out of initial funding before hitting the critical mass necessary to be successful. It means thousands of businesses, employers and employees are now gainfully employed, contributing to the economy and paying taxes that otherwise would not have happened.

CDFIs provide affordable capital to borrowers that may not be able to access credit from mainstream financial institutions. Unlike other non-bank options, CDFI loans are affordable and transparent. And CDFIs take a holistic approach, prioritizing the wellbeing of individual clients and the borrowers that live within them.