For communities to thrive economically, access to basic financial services, affordable credit and investment capital are a necessity. Yet historically, underserved communities have had little to no access to capital, a gap that widened significantly during the pandemic. Community Development Financial Institutions (CDFIs) provide equitable access to capital and financial services, ensuring that all communities have opportunities to prosper and thrive.
As many businesses struggle with inflation, supply chain disruptions and staffing shortages, CDFIs provide a vital lifeline to small business owners, particularly women and people of color. Based in the communities they serve, CDFIs are required to direct capital toward individuals and efforts that experience structural barriers to credit access, and the institutions are essential to the health and vibrancy of our communities.
Supporting CDFIs is an impactful way that foundations can expand their support of underserved communities. Grants made directly to CDFIs can enhance capacity building or operations, and direct investments in a CDFI increases the pool of funding.
The Kuni Foundation is proud to support the impactful work of Craft3, which supports communities throughout Washington and Oregon. Through a $1 million investment in the CDFI’s Community Impact Investment Notes, the Foundation supports the capitalization of transformative loans in tribal, rural, and urban communities throughout the Pacific Northwest. Learn more about Craft3 and our enthusiastic commitment to the organization’s values-based work here:
https://lnkd.in/gA3g9TVk
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