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.
MBF #smallbiztips: Every professional knows that networking is an essential component for success. If you’re looking to build authentic, powerful professional relationships, here are the top 5 networking mistakes you should avoid via @IvyExec.
MBF #smallbiztips: If you're like many business owners, you have an ever-growing list of tasks you'd like to accomplish. Here are 4 productivity and time management tips to help you fit more into your busy schedule. https://t.co/FrIMMfnZKF via @forbes.
Last Thursday was the first day of MBF's FREE Small Business Training. Students learned digital marketing business hacks from @bizhackco. This wouldn't be possible without support from @magiccitydist, @miamiandbeaches, @lhccmiami, and @cityofmiami. https://t.co/krxV9YmDjl
MBF #smallbiztips: Learn the steps it takes to maximize lead generation and your brand when setting up a trade show booth or table. Join the SBA for their "How to Effectively Conduct Trade Shows and Events" live webinar. Register at https://t.co/qLIWJPnviR.
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By contributing to MBF you have an opportunity to impact job creation, encourage economic development and improve the future of the City of Miami.