The south lacks access to financial products of every type: venture capital, banking, lending, and philanthropy. Let’s take them in order.
Apr 24, 2020 • 16 tweets • 4 min read
For those who are paying attention to the stimulus package just passed and are wondering, “what the heck is a Community Development Financial Institution (#CDFI)?” Short answer: they are the greatest thing that you’ve never heard of.
A thread.
CDFIs were created in the 1970s as a response to discriminatory financing practices from banks (redlining, racism, etc.) As CDFI leader Mark Pinsky puts it, they were “an experimental approach to community building and anti-poverty efforts” brookings.edu/articles/takin…