"Community development financial institutions (CDFIs) have emerged as pivotal players in bridging financial gaps in underserved communities. Between 2014 and 2024, CDFIs grew sevenfold, reaching $436 billion in assets by the end of 2024.

This growth has enabled CDFIs to serve a growing number of places, especially residents and business owners in Black and Indigenous communities and communities of color. In particular, CDFIs played a critical role in helping business owners of color access vital Paycheck Protection Program dollars during the pandemic, at a time when conventional banks fell short."