Community Development Financial Institutions (CDFIs)

Pathway Lending

Based in Nashville, Pathway Lending is a CDFI focused on providing underserved small businesses in Tennessee with the capital and educational services they need to grow and succeed.  Since its establishment in 1999, the CDFI has made more than 915 loans totaling nearly $150 million and provided more than 32,000 hours of business advisory services. Read more about Pathway Lending...

Housing Fund

The Housing Fund finances affordable housing and neighborhood revitalization projects across Middle Tennessee.  Since its incorporation in 1996, the CDFI has lent over $66 million, which in turn has leveraged over $400 million in private financing to support more than 4,300 units of housing for low and moderate income families.

Local Enterprise Assistance Fund (LEAF)

The Local Enterprise Assistance Fund (LEAF) aims to promote human and economic development by providing financing and development assistance to cooperatives and social purpose ventures that create and save jobs for low-income people.  To date, LEAF has invested and leveraged over $106 million, resulting in the creation or retention of more than 7,800 jobs.  The CDFI is just one of three in the U.S. with a focus on supporting cooperative enterprises.

Banking On Justice

James Trimarco
Yes! Magazine

A Yes Special Report...In the poorest region of the nation’s poorest state, a tiny government program keeps money flowing through mom-and-pop financial institutions in the Mississippi Delta—changing more

Georgia Cities Foundation

Based in Atlanta, Georgia Cities Foundation focuses on supporting the revitalization of underserved downtown areas.  Since its designation as a CDFI in 2010, the nonprofit has provided more than $21 million in loans to 123 projects credited with catalyzing 253 new businesses, creating 1,386 jobs, and leveraging an additional $101.2 million in private investments.

Reducing Income Inequality: How CDFIs Promote Job Quality

This report from the Opportunity Finance Network details how community development financial institutions (CDFIs) can support quality job creation as a way to reduce income inequality. Noting that this approach is currently underutilized in the field, the report draws on five case studies of CDFIs that are using tools such as debt and equity products, interest rate reductions, and technical assistance to not only grow small businesses, but ensure access to quality jobs for low-income communities. The report makes recommendations for how to scale this approach in the CDFI field.

Colorado Housing Assistance Corporation

Based in Denver, Colorado Housing Assistance Corporation (CHAC) strives to ensure that low and moderate income state residents can afford housing and achieve successful homeownership.  Since its founding in 1982, CHAC has helped more than 7,500 first-time home buyers with down payments and closing costs, and prevented nearly 1,000 families from foreclosure.

Colorado Enterprise Fund

Based in Denver, Colorado Enterprise Fund (CEF) provides loans to small and emerging Colorado businesses unable to secure traditional bank financing.  Since its establishment in 1976, CEF has made more than 1,800 loans totaling $54 million, investments credited with creating or retaining more than 16,000 jobs.

Small Business Investment Companies: Investment Option for Banks

Ammar Askari

This Community Developments Insights report describes the U.S. Small Business Administration’s (SBA) Small Business Investment Company (SBIC) program, its role in capital markets, and how financial institutions—including national banks and federal savings associations (collectively, banks)—can use the program to expand their small-business finance activities. This report also describes how the SBA licenses these companies, how they operate and are supervised, and the guidelines they should follow. Finally, this report outlines risks and regulatory considerations of bank investments in SBICs and explains how these investments may receive consideration under the Community Reinvestment Act (CRA).

The information in this report was obtained from a variety of sources, including bankers, non-supervised nancial intermediaries, SBICs’ general partners (GP), trade groups, the SBA’s Of ce of Investment and Innovation (OII), and other parties involved with small business investment companies. Appendix E provides a resource directory for additional program information. 

Neighborhood Housing Services of New Haven

With the goal of positioning New Haven neighborhoods for success, Neighborhood Housing Services of New Haven focuses on increasing homeownership, ensuring homes are attractive, energy-efficient, and affordable, and building resident leadership in neighborhoods.  Since its incorporation in 1979, the nonprofit has renovated and sold nearly 450 housing units.  In 2001, NHS opened its New Haven HomeOwnership Center, which provides homebuyer and homeowner education classes, financial education workshops, and credit counseling to nearly 500 families per year.

Start Community Bank

Striving to boost the quality of life of New Haven residents, Start Community Bank provides personal and business loans that support affordable housing development and new job creation.  Its name represents the “start” of a pathway that will lead to economic and social improvements for New Haven and its residents.

Greater New Haven Community Loan Fund

The Greater New Haven Community Loan Fund (GNHCLF) aims to create and sustain vibrant neighborhoods and communities by providing flexible financing and technical assistance to area affordable housing and community development organizations and projects.  Since its establishment in 1987, GNHCLF has made $57 million in housing loans, which have funded the development of nearly 2,500 housing units.

Pay for Success: The First Generation

Dana Archer-Rosenthal

Pay for Success: The First Generation provides a look at the ten Pay for Success projects that have launched in the United States–projects that have finalized contracts and financing, and initiated service delivery as of March 2016. It offers detailed comparison of U.S. PFS projects and synthesizes observations on the market’s development to date. It is informed by Nonprofit Finance Fund’s unique and central vantage point in the U.S. Pay for Success arena. This report pulls from PFS contracts and other publically available documents, interviews with stakeholders, and incorporates information and observations gleaned by NFF through its more than five years of experience as a field builder, funding intermediary for PFS project development, and investor. It examines project goals and project design; the partners and stakeholders involved; the underlying data, evidence, and evaluation plans; the governance and investment structures, including repayment terms and investor profiles; and project costs. The report also provides key definitions for some terms, in an effort to further a common language for the PFS eld. 

CDFI Futures: An Industry at a Crossroads

Jeremy Nowak
Opportunity Finance Network
This report examines growth obstacles and opportunities within the community development financial institutions (CDFI) industry. The report was motivated by a view among many practitioners and investors that the CDFI industry is at a pivotal time of change in response to new capitalization options, ongoing operating challenges, and shifts in the external environment.

Shared Capital (formerly the North Country Cooperative Development Fund)

Based in Minneapolis, Shared Capital is a national CDFI loan fund that works to connect co-ops and capital to build economic democracy.  A cooperative association of more than 175 cooperatives in around 30 states, Shared Capital accepts donations and investments from its members and social investors, and then uses the funds to finance the creation and expansion of cooperatively-owned businesses and housing across the country.  Committed to advancing racial equity and social and economic justice, the CDFI specifically aims to fund cooperatives organized by disadvantaged communities that build economic opportunity, create living wage jobs, provide access to healthy food, and offer dignified, affordable housing.  Since its establishment in 1978, it has provided more than $40 million in total financing to more than 800 cooperative projects.


August 29th, 2016 to August 31st, 2016
Cleveland, OH

The National Alliance of Community Economic Development Associations (NACEDA) Summit is on the road again to a city with some of the most mature and innovative community development organizations in the country. They have partnered with the Ohio CDC Association and Cleveland Neighborhood Progress to showcase leading-edge initiatives that improve lives and build prosperity in low- and moderate-income communities. Read more about NACEDA Summit...