Urban Institute has released data collected across the country and developed a a new fact sheet on the growing footprint of CDFIs and the role they play in serving communities in need. Key findings include:
- CDFIs lent more than $34.3 billion between 2011 and 2015, roughly $6.8 billion a year—sixty-four percent of CDFI lending went to areas that were underserved or distressed.
- But CDFI activity was not distributed equally across the country, even among economically comparable places. Twenty-seven percent of counties saw no CDFI lending activity, while other counties saw significant CDFI activity.
- As Urban researcher Brett Theodos points out, the CDFI industry needs further supports to expand its reach into underserved communities where it has yet to establish a strong presence and to increase activity in areas the industry is currently serving.
Coming soon, Urban’s community development experts will be releasing an interactive map that allows cities, lenders, and developers to drill down into the CDFI footprint on a county level. I’ll be sure to notify you as soon as it’s ready.
Learn more here.