Last week, in a Forbes article authored by business reporter Daniel D’Ambrosio, OFN Executive Vice President of Knowledge Sharing, Donna Fabiani, shared why community development financial institutions (CDFIs) are so valuable in low-income and other underserved communities.
“CDFIs offer the full gamut of assistance, helping them learn how to run a business and grow a business,” Donna stated. “Honestly there are times when a business owner will walk in with a shoebox of receipts. CDFIs can work with somebody like that, not giving them a loan, but making them loan-ready.”
Illustrating the economic impact generated by CDFIs, the article featured new worker-owned business Democracy Brewing in Boston and the financial support and other business assistance they received from local OFN member Local Enterprise Assistance Fund (LEAF).
Read the article here.