A recent article on Philanthropy.com describing CDFI’s, their focus on closing the racial wealth gap, and the challenges they face.
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“… corporate foundations, Silicon Valley tech companies, banks, retailers, and private foundations are pumping money and fresh ideas into community-development financial institutions, or CDFIs. CDFIs, most of which are nonprofits, make loans at affordable rates to help poor people build wealth.”
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“The challenge for CDFIs will be to grow without drifting from their mission of serving low-income or inexperienced borrowers. “In some ways, scale and impact are in tension,” says Brett Theodos, a senior fellow at the Urban Institute who has written extensively about the sector.”space
READ THE ARTICLEspace
