Community Development Financial Institutions (CDFI) Fund: Programs and Policy Issues

Lowry, Sean

Library of Congress. Congressional Research Service.

关键词: Community development;    Infrastructure;    Rural affairs;    Urban affairs;    Federal aid to community development;   

RP-ID  :  R42770
RP-ID  :  R42770_2015Feb05

美国|英语

来源: UNT Digital Library

【 摘 要 】

As communities face a variety of economic challenges, some are looking to local banks and financial institutions for solutions that address the specific development needs of low-income and distressed communities. Community development financial institutions (CDFIs) provide financial products and services, such as mortgage financing for homebuyers and not-for-profit developers; underwriting and risk capital for community facilities; technical assistance; and commercial loans and investments to small, start-up, or expanding businesses. This report begins by describing the CDFI Fund’s history, current appropriations, and each of its programs. A description of the fund’s process of certifying certain financial institutions to be eligible for the fund’s program awards follows. The next section provides an overview of each program’s purpose, use of award proceeds, eligibility criteria, and relevant issues for Congress.