CDFIs are specialized financial institutions that
work in market niches that have not been adequately
served by traditional financial institutions. These
CDFIs provide a wide range of financial products and
services, including mortgage financing for first-time
home-buyers, financing for needed community facilities,
commercial loans and investments to start or expand
small businesses, loans to rehabilitate rental housing,
and financial services needed by low-income households
and local businesses. In addition, these institutions
provide services that help ensure that credit is used
effectively, such as technical assistance to small
businesses and credit counseling to consumers. CDFIs
include community development banks, credit unions,
loan funds, venture capital funds, and microenterprise
loan funds, among others. (Source: CDFI Fund)
For more information on CDFIs, please check out
the following links:
The U.S. Treasury
Department's Community Development Financial Institutions
(CDFI) Fund was created to expand the availability
of credit, investment capital, and financial services
in distressed urban and rural communities. By stimulating
the creation and expansion of diverse community development
financial institutions (CDFIs) and by providing incentives
to traditional banks and thrifts, the Fund's investments
work toward building private markets, creating healthy
local tax revenues, and empowering residents. The
CDFI Fund provides relatively small infusions of capital
to institutions that serve distressed communities
and low-income individuals. The Fund's activities
leverage private-sector investments from banks, foundations,
and other funding sources. (Source: CDFI Fund)
National
Community Capital is a network of more than 150
private-sector community development financial institutions
(CDFIs) that provides financing, training, consulting,
and advocacy for CDFIs. Active in all 50 states, the
National Community Capital network invests in small
businesses, quality affordable housing, and vital
community services that benefit economically disadvantaged
people and communities. National Community Capital
is committed to leading the community development
finance system to scale through capital formation,
policy and capacity development. (Source: NCCA)
The Coalition
of Community Development Financial Institutions (CDFI
Coalition) is the lead national organization in
the United States promoting the work of community
development financial institutions (CDFIs). Through
its twelve member organizations, the Coalition represents
CDFIs working in all 50 states and the District of
Columbia. This national network of CDFIs includes
community development loan funds, community development
banks, community development credit unions, microenterprise
lenders, community development corporations and community
development venture capital funds. The CDFI Coalition
coordinates industry wide initiatives to increase
the availability of capital, credit and financial
services to low-income communities across the nation.
(Source: CDFI Coalition)
CDFIs in New England:
