Community Development Financial Institutions Fund

The Community Development Financial Institutions Fund (CDFI Fund) is a U.S. government initiative aimed at promoting economic growth and development in underserved communities. It provides financial assistance and support to Community Development Financial Institutions, which offer affordable loans, investments, and financial services to low-income individuals and communities. The CDFI Fund focuses on fostering access to capital, encouraging community revitalization, and empowering local economies. By investing in various sectors, including housing, small businesses, and community facilities, the CDFI Fund plays a crucial role in enhancing the economic opportunities available to marginalized populations, thereby contributing to the overall stability and growth of disadvantaged areas.

Jodie Haris

Director

Past deals in Michigan

Michigan Community Capital

Grant in 2024
Michigan Community Capital is a nonprofit organization that focuses on wealth-building opportunities for underserved people.

Cinnaire

Grant in 2024
Cinnaire is a community development financial partner based in Lansing, Michigan, established in 1993. The organization focuses on supporting community and economic development initiatives by forming partnerships with mission-driven organizations and investors. Cinnaire aims to create opportunities for individuals in need by deploying capital and expertise to encourage community-driven revitalization. The organization has invested $4.2 billion, leading to over $7 billion in community impact. Additionally, Cinnaire manages real estate funds, such as the Cinnaire Fund for Housing 37, which targets investments in senior and student housing across several states, including Illinois, Indiana, Michigan, Minnesota, and Wisconsin.

Detroit Development Fund

Grant in 2023
Detroit Development Fund is a non-profit (501(c)(3)) organization and a certified community development financial institution, incorporated in the state of Michigan. Detroit Development Fund was created in 1998 with an initial mission of helping revitalize an economically distressed target area in Detroit’s far East side neighborhoods. It now operates throughout the City of Detroit. Detroit Development Fund provides loans and technical assistance to small business owners, developers, building owners, contractors, and subcontractors who cannot get all of the capital they need from traditional financing sources. It delivers its products and services with the goals of revitalizing businesses and neighborhoods in Detroit, Michigan, creating economic equity, and promoting a healthy environment.

Cinnaire

Grant in 2023
Cinnaire is a community development financial partner based in Lansing, Michigan, established in 1993. The organization focuses on supporting community and economic development initiatives by forming partnerships with mission-driven organizations and investors. Cinnaire aims to create opportunities for individuals in need by deploying capital and expertise to encourage community-driven revitalization. The organization has invested $4.2 billion, leading to over $7 billion in community impact. Additionally, Cinnaire manages real estate funds, such as the Cinnaire Fund for Housing 37, which targets investments in senior and student housing across several states, including Illinois, Indiana, Michigan, Minnesota, and Wisconsin.

Michigan Women Forward

Grant in 2023
Michigan Women Forward is working to reform Michigan so that women and girls can attain equality and empowerment.

Michigan First Credit Union

Grant in 2023
Michigan First Credit Union is a provider of personal and business loan services.

Chi Ishobak

Grant in 2023
Chi Ishobak is a non-profit organization that provides financial products and educational services, focusing on supporting the financial development and economic growth of Native communities. It offers business loans, consumer loans, financial workshops, credit rebuilding assistance, and entrepreneurship guidance, primarily serving members of the Pokagon Band of Potawatomi Indians.

ProsperUS Detroit

Grant in 2023
ProsperUS Detroit helps entrepreneurs and community partners transform the low-income neighborhood economies in Detroit. It works with entrepreneurs and community organizations to educate, support, and inspire minority and immigrant entrepreneurs to concentrate on micro-enterprise development. It builds local and national capacity of individuals, organizations, and communities. The organization offers trainings for entrepreneurs, capacity building programs for community organizations, and micro-loans and technical assistance to local micro-enterprise in targeted neighborhoods. ProsperUS Detroit was founded in 2010 and is based in Michigan, United States.

Invest Detroit

Grant in 2023
Invest Detroit is a development financial institution and source of private sector financing based in Detroit, Michigan. As a mission-driven lender, investor, and partner, it supports business and real estate projects that ignite economic growth in Detroit and the surrounding region. The organization backs entrepreneurial activity through programs and funds such as Detroit Innovate, an early-stage investment initiative focused on the Detroit region. Its activities aim to cultivate a robust local ecosystem by providing capital, strategic guidance, and partnerships to scale high-potential startups and attract investment. Managed by a professional leadership team, Invest Detroit seeks inclusive growth across technology, manufacturing, mobility, and related sectors, while maintaining a focus on long-term community development and job creation in Detroit and Michigan.
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