City First Enterprise's John Hamilton: Online Marketplace Will Streamline CDFI Funding
Washington-based City First Enterprises, the nonprofit holding company of City First Bank of D.C., is building an online crowdsourcing platform for investors who want to put their money to work in underserved communities. "At present, it is extremely difficult for [investors and CDFIs] to get together," said City First Enterprises president John Hamilton. "The design of this platform is to streamline and make this much easier. A CDFI can borrow money for itself or host projects as investor opportunities." Hamilton hopes the site will go live by July. The platform got a big boost last month when Promontory Financial Group picked it as a winner in its inaugural Empowerment Awards.