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What is a CDFI and why do we need one
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What is a CDFI and why do we need one

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Marvin Ginn, Native Community Finance and HAC board, explains the value of CDFIs to serve vulnerable populations

Marvin Ginn, Native Community Finance and HAC board, explains the value of CDFIs to serve vulnerable populations


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  • 1. Marvin Ginn Executive Director Phone: 505-552-7050 Cell: 505-205-4376 E-mail: MarvinG@nativecf.org NATIVE COMMUNITY FINANCE 5 Capital Road, PO Box 176 Laguna, New Mexico 87026 Tele: (505)552-7050
  • 2. A CDFI is a Community Development Financial Institution A certified Community Development Financial Institution (CDFI) is a specialized financial institution that works in market niches that are underserved by traditional financial institutions. CDFIs provide a unique range of financial products and services in economically distressed target markets, such as mortgage financing for low-income and first-time homebuyers and not-for-profit developers, flexible underwriting and risk capital for needed community facilities, and technical assistance, commercial loans and investments to small start- up or expanding businesses in low-income areas. CDFIs include regulated institutions such as community development banks and credit unions, and non-regulated institutions such as loan and venture capital funds.
  • 3.  Primary Activity of a CDFI is lending or investing  CDFI’s develop financial products to meet the needs of their markets  Make loans that are riskier, often to unconventional borrowers  CDFI’s also provide Development Services (aka Technical Assistance)  CDFI’s provide Capital & Technical Assistance to projects that help create a healthy economy  CDFI’s leverage grants, bank loans and other sources of capital into the community  CDFI’s build capacity of businesses and community members CDFI Role in Creating a Healthy Economy
  • 4. Asset building is the process of assimilation and development of all types of assets then maintaining of the asset whether existing or one being developed. This process is normally targeted to the low- moderate income levels but can be beneficial to all levels of income.
  • 5. Development of the project and a guiding strategy Tribal/Rural Communities continue to have the challenge of assets, primarily money, which comes into the community then spent outside of the community. Asset building creates the situation where the assets circulate within the community Predatory businesses operating in rural communities strip assets from the community
  • 6. HOW DOES NCF HELP MEET THESE CHALLENGES?  Free Tax Preparation Site: VITA/TCE  Individual Development Accounts (IDA)  Financial Education  Mortgage Assistance Services  Community Oriented Affordable Lending  Construction Loans for HUD184 Loans
  • 7. Individual Development Accounts Matched savings account Financial Education Course Required First time homeownership Business creation or expansion Post-secondary education
  • 8. US TREASURY CDFI FUND EQ2 INVESTMENTS TRIBAL INVESTMENTS PRIVATE INVESTMENTS BANK BEA AWARDS FOUNDATIONS

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