Community development financial institution
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Search complete. 163 mentions across 61 episodes found for "Community development financial institution".
Nov 2, 2026
Damon AllenGUEST
Most of our grants focus on individual households, but we do have a discounted, actually two discounted advanced programs.
Damon AllenGUEST
And then we also have our CDFI loan fund.
Damon AllenGUEST
It's a 0% loan we do to our seven CDFI members that they can turn around and use however they want.
Damon AllenGUEST
And they use it to support individual households as well as small businesses in their communities.
Veronica CardelloHOST
So through those two programs, members will borrow,
Vanessa Hall HarperGUEST
And so we did.
Vanessa Hall HarperGUEST
Reached out to Rose Washington with TEDC, Tulsa Economic Development Corporation, which is a CDFI organization.
Vanessa Hall HarperGUEST
here in Tulsa and got to work on building our own grocer and made it a priority that if we're going to build it ourselves, we might as well make sure that it's black owned.
Vanessa Hall HarperGUEST
Go all the way.
Catherine BermanGUEST
Longer conversation.
Catherine BermanGUEST
So CDFIs, which is the underlying asset, is called Community Development Financial Institutions.
Catherine BermanGUEST
I encourage you to all look them up.
Catherine BermanGUEST
It's been around for over 20 years.
Lomax CampbellGUEST
And I think Syracuse may have one.
Lomax CampbellGUEST
I'm going off memory here, but Buffalo have a stronger CDFI network.
Lomax CampbellGUEST
And some years ago, maybe five to 10 years ago, they made an attempt to unite Rochester and Buffalo's CDFI network in one cohesive collaborative consortium.
Jazzy THOST
Yeah.
Jazzy THOST
I think that we've seen the recovery in Buffalo, as you mentioned.
Stacie YoungHOST
But you mentioned that sometimes there's gaps in the financing.
Stacie YoungHOST
What role do CDFIs and alternative financing tools play in the ecosystem and what you do
Bonita HarrisonGUEST
in the neighborhoods? the role of CDFIs, they're often willing to understand our needs as a community developer.
Bonita HarrisonGUEST
I think that for me, that is one of the most important things that I've experienced with CIC and LIST.
Bonita HarrisonGUEST
CDFIs provide pre-development funding.
Bonita HarrisonGUEST
So a lot of times I think a lot of developers get caught up in that beginning.
Bonita HarrisonGUEST
How do we fund the surveys? How do we do environmental studies? Like all of those things you have to think about.
Bonita HarrisonGUEST
Then acquiring the parcel or the structure, how do you acquire that? The ability to see past some of the, just the traditional standards that majority of our banks have.
Anthony DemangoneHOST
I've been talking to members about that.
Anthony DemangoneHOST
Our work secured the funding by Treasury for CDFI credit unions.
Anthony DemangoneHOST
Are these the type of wins that can serve as a model for future regulatory relief efforts?
Scott SimpsonGUEST
Yes, absolutely.
Alex BatdorfHOST
And I don't think the answers here are individual alone, but I do want to shout out some alternatives that I'm really interested, especially around financing.
Alex BatdorfHOST
One of those are CDFIs.
Alex BatdorfHOST
These are community development funds.
Alex BatdorfHOST
And I'm obsessed.
Alex BatdorfHOST
And they have the most direct lending to people in communities that mainstream finance overlooks.
Alex BatdorfHOST
They finance more than 155,000 women-owned businesses over three years.
Alex BatdorfHOST
And 69 of them are native CDFIs serving tribal communities.
Alex BatdorfHOST
So why don't we talk about this? A lot of them don't have the marketing budgets of fintech lenders or the glamour of venture capital.
Steve BolandHOST
I'm about to throw one out there.
Steve BolandHOST
Propel's a CDFI.
Allison WagstromGUEST
We are a CDFI.
Steve BolandHOST
That's a community development financial institution.
Steve BolandHOST
Where does CDFI money come from? It probably just gets dropped in from big grants from foundations, right? That's just where you get that money?
Allison WagstromGUEST
We have a complex funding model, as you are aware.
Allison WagstromGUEST
We do receive government funds, and those government funds come from the Community Development Financial Institution, the CDFI fund at the federal government.
Allison WagstromGUEST
And that has been an area where there has been great instability.
Jacob ClarkGUEST
Absolutely.
Jacob ClarkGUEST
In the sense of kind of following the dollars, one example I would like to talk about is $8 million loan that we gave a couple of years ago to a national CDFI called the National Housing Trust.
Jacob ClarkGUEST
They took our $8 million.
Jacob ClarkGUEST
It sits on their balance sheet as a low cost long term loan.
Samantha SchartmanGUEST
Sure.
Samantha SchartmanGUEST
So Connect Humanity is a 501c3 nonprofit, but we are also an emerging CDFI.
Samantha SchartmanGUEST
So that's Community Development Financial Institution.
Samantha SchartmanGUEST
We're on the track to becoming that.
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