Community Development Financial Institutions (CDFIs) Provide Affordable Financing to Women

Congress created Community Development Financial Institutions (CDFIs) in 1994 to provide affordable financing to women, minority, and other underestimated entrepreneurs.

CDFIs hope, through financing, is to help women entrepreneurs rebound faster and grow stronger, healthier businesses despite the pandemic.

CDFIs are mission, not profit-driven. They have lower requirements regarding years in business, credit score (or no credit score), and collateral. Entrepreneurs still have to prove that they're creditworthy, but CDFIs work with entrepreneurs whom banks typically turn away. CDFIs have proven that financing women- and minority-business owners are NOT risky.

Think of them as first responders for women entrepreneurs.  How will you use a CDFI loan to become a healthier, stronger business in 2022?

Source:  Our esteemed colleague and friend, Geri Stengel, who contributes to Forbes on a regular basis.  She is a big supporter of women business owners.