A recent article on Philanthropy.com
describing CDFI’s, their focus on closing the racial wealth gap, and the challenges they face.
“… 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.”
“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