Community Development Financial Institutions (CDFIs) are financial institutions that provide services to low-income communities and people who lack access to financing.
CDFIs include banks, credit unions, loan funds, and venture capital funds.
They focus on personal lending and business development in poorer communities.
CDFIs are certified by the U.S. Department of the Treasury’s CDFI Fund.
CDFIs specialize in lending to individuals, organizations, and businesses in under-resourced communities. They offer clients financial education, business coaching, and low-interest rate loans. CDFIs seek to lend to small businesses and nonprofits that may not be able to access traditional bank financing.