See more in Miami's Business Funding Guide
CDFI stands for Community Development Financial Institution, and there are more than a 1,000 across the U.S. CDFIs are certified by the US Treasury and were created to provide financial services for low-income communities and underserved populations. They are mission driven, nonprofit organizations. CDFIs can also provide funds for affordable housing, however, we are focusing on CDFIs that serve small business owners.
All CDFIs provide both financing and educational services for their clients. Below are the four types of CDFIs:
- Community Development Banks
- Credit Unions
- Loan Funds
- Venture Capital Funds
Ideal for businesses that:
Are minority or women-owned.
These lenders are known for:
Forming relationships with their clients to understand their needs and provide financial education.