Reflections from Asheville and the OFN 2025 Southeast Regional Meeting
Harold Pettigrew, President and CEO, Opportunity Finance Network
Read time: 8 minutes
In times of uncertainty, it’s easy to get caught up in the noise—the shifting policies, economic fluctuations, and challenges that seem to evolve by the day. But when we cut through the noise, we return to certain truths that remain unchanged: communities in need, small businesses fighting to survive, and families striving for economic security. These are the realities that ground us. They are why CDFIs exist, and why our work is more essential now than ever.
This is why gathering—coming together as leaders, practitioners, funders, and advocates—is so important. The 2025 OFN Southeast Regional Meeting in Asheville was more than just an event; it was a reaffirmation of our shared mission. Over two days, we reflected on the state of the community development finance industry, tackled the challenges ahead, and celebrated the undeniable impact that CDFIs are having on the ground.
CDFIs are public-private partnerships at their best. We stand at the intersection of capital and community, leveraging both public resources and private investment to unlock economic opportunity where mainstream finance falls short. We are problem-solvers, bridge-builders, and engines of community economic growth—ensuring that capital flows to the people and places that need it most.
Asheville provided the perfect backdrop for these discussions. A city that has long embraced entrepreneurship, resilience, and community-driven growth, it was also a place recently devastated by Hurricane Helene—reminding us in real time why our work is so vital. Whether through disaster recovery efforts, small business lending, or mission-driven investment, CDFIs are not just financial institutions; we are financial first responders, deploying flexible capital and long-term recovery support. But our work extends far beyond crisis response. We help small businesses access the funding they need to grow, support first-time homebuyers in building generational wealth, and finance projects that revitalize entire neighborhoods.
Our time together reinforced what we already knew: CDFIs are needed now more than ever. At a moment when economic uncertainty looms large, we must double down on our commitments—to ensuring that the communities we serve have the financial tools they need to thrive. From candid CEO discussions to policy deep dives, and from learning best practices to seeing impact firsthand on our local tour, our time in Asheville was a powerful reminder of what happens when we come together.
A Candid CEO Conversation
On the evening of March 4, I hosted a CEO Member Dinner over a wonderful meal at Modesto, a client restaurant of our wonderful host and OFN member Mountain BizWorks, where a select group of CDFI executives came together in a more private setting to discuss the top concerns shaping our industry. These conversations, rich with candor and insight, underscored common themes: the evolving landscape of federal funding, the challenges of scaling impact, and the need for sustainable capitalization strategies.
One of the most resonant takeaways from the dinner was the need to maintain resilience in a period of uncertainty. With shifts in political dynamics, changes in funding priorities, and the ongoing need for advocacy, our work as CDFIs has never been more essential. Ensuring that our organizations remain well-positioned to navigate these challenges is a shared responsibility—one that requires both collaboration and innovative thinking.
Setting the Stage: A Call to Action in Disaster Recovery
The morning of March 5 marked the formal start of our regional meeting at The Collider, a venue aptly named for the intersection of innovation and climate resilience. Mayor Esther Manheimer opened the gathering with an address that reflected a sobering account of the gravity of the devastation from Hurricane Helen, and Asheville’s recovery, emphasizing the long-term needs that remain. Her remarks highlighted the essential work of Matt Raker and the Mountain BizWorks team, who have played a critical role in leading community support and deploying emergency funding.
With approximately 100 attendees in the room, the energy was palpable. The day’s agenda covered a range of topics that are central to the future of the CDFI industry. We provided an update on OFN’s latest initiatives, including research and advocacy efforts, and had a robust discussion on key policy matters, such as the current status of the CDFI Fund and the Greenhouse Gas Reduction Fund.
During the afternoon, I provided an opportunity to engage in open dialogue and provide my perspective to members about the evolving financial landscape, the importance of maintaining confidence through uncertainty, and my optimism for OFN’s strategic priorities and future. Our subsequent discussions on disaster recovery reinforced the vital role CDFIs play in rebuilding communities, not just in the immediate aftermath of crises but in ensuring long-term economic stability.
The day concluded with a series of roundtable discussions on critical topics ranging from capitalization strategies to sustainability and climate lending. These breakout conversations offered attendees a space to exchange best practices, explore emerging trends, and collectively solve problems.
Experiencing Asheville Through the Lens of Community Development
The following morning, March 6, we had the opportunity to experience Asheville firsthand through a locally guided tour hosted by Mountain BizWorks. Our journey began with LaZoom, whose signature blend of history and humor set the stage for an engaging exploration of the city’s economic landscape.
Our first stop was Sew Co., where we met with local business owners. Their stories of perseverance and growth illustrated the tangible impact of mission-driven lending. We then made our way to the River Arts District, which endured deep devastation, where we had the privilege of speaking with small business owners affected by Hurricane Helene. Their resilience in the face of adversity was both humbling and inspiring.
We closed our time in Asheville with a meal at Chai Pani, a business that exemplifies the spirit of community-driven success. Over lunch, conversations continued—about the role of CDFIs in disaster response, fostering small business growth, and the importance of place-based investment.
Looking Ahead: The Role of CDFIs as Financial First Responders
As I reflect on our time in Asheville, I am filled with gratitude—for the members who make this work possible, for the partners who stand alongside us, and for the communities whose resilience drives our mission forward.
The conversations we had were not just about the challenges ahead but about the solutions we can create together. In times of uncertainty, our collective strength as CDFIs is what will sustain us. We must remain steadfast in our commitment to economic opportunity, continue advocating for the resources we need, and harness the power of our networks to drive lasting change.
One theme that resonated deeply throughout our time in Asheville was the role of CDFIs as Financial First Responders. When disaster strikes—whether it’s a hurricane, an economic downturn, or a public health crisis—CDFIs step in to provide flexible capital, technical assistance, and strategic support to keep small businesses afloat and help communities rebuild. However, recovery is not just about the immediate response; it’s about sustained, long-term investment.
The work of Mountain BizWorks stands as a powerful example of this commitment, joining a network of over 1,400 CDFIs across the country sharing in that common cause. In the wake of Hurricane Helene, their leadership in deploying emergency funds, providing advisory support, and ensuring that local businesses had access to the resources they needed has been nothing short of critical. But just as important is their ongoing work—helping these businesses not only survive but thrive in the long run. This is the essence of what CDFIs do: we don’t just show up in times of crisis; we stay for the long haul, fostering sustainable economic resilience.
As we leave Asheville and return to our respective communities, let’s carry forward this mindset. The road ahead requires both immediate action and long-term dedication. CDFIs have always been, and must continue to be, the backbone of community-driven recovery and economic opportunity, ensuring that no community is left behind.
To all who joined us in Asheville—thank you. Your dedication, insights, and leadership strengthens this industry, and reinforces the reason for OFN. CDFIs are not just financial institutions; we are problem-solvers, bridge-builders, and partners in progress. And, our time together reinforced what we already knew: CDFIs are needed now more than ever.
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