If you’re a small business owner looking for capital, you may want to consider looking into Community Development Financial Institutions, or CDFIs—organizations that specialize in lending to small businesses. While approval rates are higher than at traditional banks, there are pros and cons. Check out our infographic to learn more about whether a CDFI fund might be right for your business.
Remember: If you decide to apply for CDFI financing, be prepared—they may operate differently than your bank and ask for other information.
1 CDFI Coalition, 2019, http://cdfi.org/wp-content/uploads/2019/08/2019-CDFI-Report-Complete-FINAL.pdf
2 Federal Reserve Small Business Credit Survey, 2018, https://www.fedsmallbusiness.org/medialibrary/fedsmallbusiness/files/2018/sbcs-nonemployer-firms-report.pdf