What is a CDFI Loan? 🏡

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A CDFI loan is a loan made by a Community Development Financial Institution (CDFI). CDFIs are private financial institutions that are certified by the U.S. Department of the Treasury to provide financial products and services to underserved markets and populations, including low-income individuals and communities. CDFIs use their lending and investment activities to promote community development and economic growth in these underserved areas. CDFI loans are typically used to finance small businesses, affordable housing projects, and community facilities such as schools, health clinics, and public parks. CDFI loans may be used to finance a variety of purposes, including working capital, equipment purchases, real estate development, and debt refinancing. CDFI loans may be offered at competitive interest rates and may have flexible repayment terms, depending on the specific needs of the borrower and the goals of the CDFI.

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