Helping Individuals & Businesses Save Money On Taxes and Create Wealth For Over Three Decades | Managing Director @ Asset Strategy
Today marks the 30th anniversary of the #CDFI Fund, established through the bipartisan Riegle Community Development Act in 1994. This Fund has been instrumental in providing over $7 billion to Community Development Financial Institutions (CDFIs), supporting small businesses, affordable housing, and community development projects nationwide. With more than 1,400 certified CDFIs, these mission-driven institutions have invested over $216 billion since 2015, creating or retaining 5.3 million American jobs. Strategically placed in underserved areas, CDFIs focus on fostering economic development and job creation in communities often overlooked by traditional financial institutions. Key facts about CDFIs: ✅ Mission-driven to support underserved communities and foster economic development. ✅ Certified by the U.S. Department of the Treasury, enabling access to resources for their mission. ✅ Diverse institutions including banks, credit unions, and venture capital funds, each catering to different financial needs. ✅ Catalyst for change, leveraging over $100 billion in private sector investments since 1994. ✅ Support small businesses, especially minority- and women-owned enterprises, through microloans. ✅ Impact-focused on social and environmental outcomes like affordable housing and job creation in underfunded communities. These facts highlight the significant role CDFIs play in promoting economic inclusion and driving positive change in communities nationwide. #EconomicInclusion #CommunityDevelopment #CDFIs Asset Strategy
