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Cdfis in Florida Community Development Financial Institutions

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Cdfis in Florida Community Development Financial Institutions CDFIS IN FLORIDA COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS WHAT ARE CDFIS? HE UND EPARTMENT OF REASURY Community Development Financial T CDFI F – U.S D T Institutions (CDFIs) are specialized community based financial institutions with a The Community Development Financial primary mission to promote economic Institutions (CDFI) Fund is an innovative development by providing financial products Number of CDFIs in and services to people and communities federal agency within the Treasury Florida: underserved by traditional financial Department that was established in 1994, institutions, particularly in low income through the Riegle Community 40 communities. Development and Regulatory Improvement CDFIs include community development banks Act, to promote community development Total CDFI Fund awards and credit unions, and non-regulated in distressed urban and rural communities to Florida organizations institutions such as non-profit loan funds or by increasing the availability of credit, since 1996: venture capital funds. investment capital and financial services CDFIS IN FLORIDA: available. $66,463,811 • BAC Funding Consortium, Inc. New Markets Tax Credit • Black Business Investment Fund, Inc. Since 1994, the CDFI Fund has awarded • Black Economic Development Coalition, Inc awards to Florida since • Business Loan Fund of the Palm Beaches, Inc., more than $2.8 billion on a competitive 2002: The basis to CDFIs including Native CDFIs, • Champions Funding, LLC small and emerging CDFIs and financial • Community Credit Union of Florida $754,000,000 • Community Enterprise Investments Inc. institutions through the BEA Program. • Community Fund of North Miami-Dade Inc. • Community South Credit Union • Envision Credit Union • Fairwinds Credit Union • Flag Credit Union • Florida A&M University Federal Credit Union PUTTING CDFI FUND AWARDS TO WORK • Florida Community Loan Fund, Inc. • Florida Credit Union PERFORMANCE OF CDFI PROGRAM AWARDEES IN FY 2017 • Florida State University Credit Union • GTE Federal Credit Union • Guardians Credit Union • Home Ownership Resource Center In FY 2017, CDFIs program awardees made over 120,000 loans • Innovations FCU or investments totaling over $5 billion to more than 12,000 small • JetStream Federal Credit Union businesses. The average size of each loan or investment was $41,744. • Magnify Credit Union • Manatee Community Federal Credit Union CDFIs also financed over 27,962 affordable housing units. • Metro Broward Economic Development Corporation • Miami Bayside Foundation Inc. • Miami Postal Service Credit Union • Miami-Dade Affordable Housing Foundation, Inc. • Neighborhood Housing Services of South Florida, Inc. • Neighborhood Lending Partners of Florida, Inc. • Our Microlending, LLC • Panhandle Educators Federal Credit Union • Paragon Florida, Inc. • Partners for Self-Employment, Inc. / dba Micro- Business, USA • Priority Credit Union • Solar and Energy Loan Fund of St. Lucie County Inc. • Suncoast Credit Union • Tallahassee Leon Federal Credit Union • Tampa Bay Black Business Investment Corp. • Tampa Bay Federal Credit Union • TMH Federal Credit Union CDFI Coalition – www.cdfi.org – [email protected] CDFI INVESTMENT .
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