In Maine, the Northern Maine Development Commission (NMDC) received notification on April 10 that they were officially designated as a CDFI. “The ability to provide financial assistance to small businesses is an element in NMDC’s mission to expand and support economic development, and the CDFI certification supports this by giving NMDC greater opportunities to lend to small businesses,” said Fort Fairfield Town Manager and NMDC Executive Board Chairman Jim Risner in an article covering their new certification. “Gaining CDFI certification is not an easy process, and Robert Clark and the NMDC staff are to be commended for the work they have done to achieve the certification.”
In San Francisco, the CDFI Fund awarded INSIKT with CDFI certification. INSIKT is a mission-driven fintech company providing credit-building loans who has seen repayment success to 66 million underbanked or unbanked customers in their 700 locations across California, Illinois, Texas, and Arizona. "An INSIKT loan is the very first step for many of the 66-million underbanked and unbanked in building a good credit score; one that will enable them to reach their dreams," said James Gutierrez, Founder and CEO, INSIKT. "We are humbled to join this inspiring group of mission-driven financial institutions and look forward to the opportunity of partnering with banks to solve affordable access to capital once and for all." Read their full announcement here.