On March 16, Fast Company reported on how the Administration’s just-released FY18 budget cuts funding for low-income communities. Reporter Eillie Anzilotti details how the CDFI Fund enables CDFIs to leverage private investment to create “funding streams that go directly into city and neighborhood-level projects.” Anzilotti also highlights CDFI projects from Capital Impact Partners, Genesis LA, HOPE Enterprise Corporation, and Rural Community Assistance Corporation.
OFN’s national social media campaign #CDFIsInvest in America is mentioned in the article, and Anzilotti quotes OFN's Liz Lopez, Executive Vice President, Public Policy:
"On a recent trip to the Hill, Lopez was speaking to a staffer, and asked if he’d heard of a local D.C. food truck called Arepa Zone. The staffer said yes; he’d eaten there plenty of times. Lopez asked if he knew they were able to purchase their truck only through the help of a CDFI loan; he said, no, what’s a CDFI? ‘I was able to explain to him that were it not for that first CDFI loan, they wouldn’t have been able to grow their business and create new jobs for eight people,’ Lopez says.”
Read the full article here.