NextCity explores the impact of small banks and CDFIs on the nation's "most economically distressed areas." Writing, "As a group, the banks provided $550.8 million in loans to 3,181 businesses and $37 million in loans to 2,193 residents in target communities in 2015. The target communities are census tracts where at least 30 percent of residents live below the federal poverty line and the unemployment rate is at least 1.5 times the national rate."
The 102 banks cited were all recipients of the Bank Enterprise Awards (BEA) program administered by the CDFI Fund.
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