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Since 1994 when a bipartisan act was signed into law creating the Community Development Financial Institutions (CDFI) Fund, the number of CDFIs across the country has grown to more than 1,400. These CDFIs support economic growth and development by delivering access to capital and other training resources that provide a critical entry point to banks for many individuals, businesses, and communities.

The impact of CDFIs goes beyond dollars loaned and include jobs retained and created in communities across the state.  In the same period, between 2005 and 2022, CDFIs in Arkansas helped to create or retain approximately 97,000 jobs!

Those numbers are great and CDFIs offer other financing tools including loans for home purchase, home improvement, personal loans, credit builder loans and community facility loans. 

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