CDFI Coalition is the lead organization in the United States promoting the work of community development financial institutions (CDFIs). The Coalition represents CDFIs working throughout the country and coordinates industry-wide initiatives to increase the availability of financial services to low-income communities. CDFI Coalition created a great chart to describe the different CDFIs, helping potential borrowers find the right kind of organization to support them.
- Community Development Banks: lend to nonprofits, entrepreneurs, small businesses, and housing developers.
- Community Development Credit Unions: lend to members of their credit union (typically individuals).
- Community Development Loan Funds: lend to nonprofits, social service provider facilities, and small businesses.
- Community Development Venture Capital Fund: lend to small and medium-sized businesses in distressed communities that have the potential to grow quickly.
- Microenterprise Development Loan Fund: lend to low-income individuals and entrepreneurs.
- Community Development Corporations: lend to entrepreneurs, homeowners, business owners, and consortia of community residents.
Click here to read the full chart and learn more about the CDFI Coalition’s work.