What it means to be a CDFI
Community Development Financial Institutions – or CDFIs – are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.
- CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions.
- CDFIs are certified by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund – known as the CDFI Fund. In order to become a certified CDFI, the financial institution must: have a primary mission of promoting community development; provide financial products and services; serve one or more defined low-income target markets; maintain accountability to the community it serves; and be a legal non-governmental entity.
- All CDFIs share a common mission of serving low-income communities. CDFIs are commonly loan funds, credit unions, community banks, or venture capital funds.
- Certified CDFIs are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.
- As a CDFI, MBF puts the community first and values local, economic growth.
Congratulations to MBF's new #loanrecipient @CykleJab. Accomplish your New Year's resolution by joining their high-end boutique gym that combines boxing and cycling to provide “The Ultimate 50 Minutes". https://t.co/XDtGeiBB09 https://t.co/ac4vGbDwYm
MBF #SmallBizTips: Jumpstart your business with MBF's Small Business Training! Learn business essentials from experts in accounting, marketing, information technology, human resources, and more. To apply, go to https://t.co/5iuIzkgKV2. https://t.co/NafWgtet1J
Congratulations to MBF's new #loanrecipient Sayblee! Sayblee is a haircare company with a unique, proprietary hair loss solution that is made with natural, organic ingredients.
Congratulations to MBF's new #loanrecipient Alchemist Revolt! Their Cellular Regeneration Serum is a moisturizing and nourishing facial serum that is plant-based, vegan, cruelty-free, non-toxic, and rich with antioxidants. https://t.co/P6mZpgnT82
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By contributing to MBF you have an opportunity to impact job creation, encourage economic development and improve the future of Miami.