CDFI FRIENDLY AMERICA
CDFI Friendly America is on a mission to bring the $190 billion CDFI industry to underseved communities in towns and small cities across the nation. One of the key ways they accomplish this mission is by organizing “CDFI Friendly” markets, where intermediary non-profits like CDFI Friendly Bloomington can identify opportunities for CDFIs, provide technical assistance for potential borrowers, and provide additional gap financing and financing incentives to lenders.
CDFI Friendly Bloomington has served as the pilot program for these types of markets, with the second being CDFI Friendly Southbend. It’s expected that other CDFI Friendly communities will continue to pop up around the nation, as the concept continues to spread.
Community Development Financial Institutions (CDFIS) are great assets in their communities. But they can’t be everywhere, and they can’t always offer all the types of financing each community needs—affordable housing, small business & nonprofit organizations.
We bring CDFIs to your community and we make sure you know how to make the most of them.CDFI Friendly America
CHARACTERISTICS OF CDFI FRIENDLY COMMUNITIES
A CDFI Friendly Community is one that:
- Is full of nonprofits, small businesses, and entrepreneurs seeking to create positive change in their community; and
- Is traditionally underserved by CDFIs and stands to benefit from dedicated staff who can provide technical assistance, partnership, and advice from an organization that can help potential borrowers connect with CDFIs.
Bloomington, Indiana is one such CDFI Friendly Community. CDFI Friendly Bloomington has partnered with the City of Bloomington, The Indiana Housing and Community Development Authority, various local organizations, and even a team of graduate students at Indiana University’s O’Nell School to develop a network and pool of resources and analysis that can help borrowers execute their ideas and for lenders to deepen their involvement in the community.