Community investors in the US play an active role supporting small businesses to access finance and other non-financial support in underinvested communities. Community Development Finance Institutions (CDFIs) have grown in significance since their inception in the 1970s, and now manage $150 billion AUM across small business lending, affordable housing, community banking and credit unions. As a result, the US provides a wealth of lessons for the UK as it looks to significantly scale its community lending activity.
We are pleased to launch this report looking at the lessons learned from a visit in Autumn 2018 with five CDFIs to New York City that was supported by Citi. The report draws on the perspectives of 9 US CDFIs and 16 organisations that either represent, fund or support the policy agenda of CDFIs.
