Borrowers Need CDFIs: The Data Proves It

The Hill
Friday, July 21, 2017

In response to the House Appropriations Committee’s approved top line at just $190 million for the CDFI Fund in FY2018, the Credit Builders Alliance asked its CDFI members to forward a survey to their borrowers. The results of the survey resoundingly disprove the contention that CDFIs are no longer needed, which President Trump insinuated in his budget blueprint by declaring that “the CDFI fund was created more than 20 years ago to jump-start a now mature industry.” In the survey, 57% of respondents said that their CDFI loan helped them to start of grow a business.