September 20, 2012
The Community Development Financial Institutions Fund (CDFI Fund) announced today
the launch of a new training and technical assistance series under its Capacity
Building Initiative. The Strengthening Small and Emerging CDFIs series will
provide specialized training and technical assistance to small and emerging Community
Development Financial Institutions (CDFIs), especially those serving specific regions
of persistent poverty that are traditionally underserved by financial institutions.
The training series will provide comprehensive capacity building services and resources
for small and emerging CDFIs, tailored to CDFI needs and the communities they serve.
The goal of this endeavor is to fill the gaps in CDFI coverage in underserved communities
across the country. Opportunity Finance Network (OFN), the selected provider of
the series, will deliver training and technical assistance to help the CDFI Fund
achieve this objective and expand the capacity of small and emerging CDFIs.
"As we celebrate two successful years of training series under the Capacity Building
Initiative, I’m very pleased to be able to announce a brand-new training that will
assist smaller CDFIs that are trying to position themselves to grow in a sustainable
way,” said CDFI Fund Director Donna J. Gambrell. “The Strengthening Small and Emerging
CDFIs series will emphasize providing critical support to small and emerging organizations
that are working in communities underserved by financial institutions. The targeted
training and technical assistance that we’re providing through this series will
ultimately enable these CDFIs to increase their impact and bring quality financial
products and services to communities across the country."
CDFIs are critical components of the nation’s financial infrastructure, particularly
within the most underserved communities. Successful organization growth relies not
only on building a CDFI’s internal capacity and understanding its own growth trajectory,
but also on the creation of a strong network of potential collaborators and stakeholders
to create an environment that supports a CDFI’s growth. To address these needs,
the CDFI Fund will collaborate with OFN to provide training and technical assistance
(including one-on-one assistance and mentored cohorts) for small and emerging CDFIs.
OFN will also identify underserved areas, including areas of persistent poverty
such as Appalachia, the Colonias along the U.S.-Mexico border, and the Mississippi
Delta, and provide specific, proactive suggestions for filling gaps of services
through product development and collaborations with strategic partners.
All training opportunities and technical assistance resource materials will be posted
on the CDFI Fund's
website in the coming months.
For more information about the Capacity Building Initiative or the CDFI Fund’s other
programs, please visit www.cdfifund.gov.
About the CDFI Fund
The CDFI Fund invests in and builds the capacity of community-based, private, for-profit
and non-profit financial institutions with a primary mission of community development
in economically distressed communities. These institutions – certified by the CDFI
Fund as Community Development Financial Institutions or CDFIs – are able to respond
to gaps in local markets that traditional financial institutions are not adequately
serving. CDFIs provide critically needed capital, credit and other financial products
in addition to technical assistance to community residents and businesses, service
providers, and developers working to meet community needs. The CDFI Fund's vision
is an America in which all people have adequate access to affordable capital, credit
and financial services.
About Opportunity Finance Network
Opportunity Finance Network (OFN) is the national network of Community Development
Financial Institutions (CDFIs)—private financial institutions that are 100 percent
dedicated to delivering responsible, affordable lending to help low-income, low-wealth,
and other disadvantaged people and communities join the economic mainstream. Through
2010, OFN’s network has originated more than $24.2 billion in financing in urban,
rural, and Native communities, and financed 782,907 housing units, 64,391 business
and microenterprises, 7,674 community facilities, and created or retained 317,052
jobs. More information is available at: