[ad_1]
July 22, 2022, 8:05 PM
A program offering bond guarantees to support community lenders would be reauthorized and expanded by
Community development financial institutions (CDFIs) provide services in low-income communities such as mortgage financing, funding for small and startup businesses, underwriting for community facilities, and technical assistance.
The CDFI Bond Guarantee Program provides a federal guarantee on bonds issued by qualified institutions, which use the proceeds from bond sales to extend credit to other CDFIs for community development projects. The program has guaranteed about $1.7 billion in bonds, allowing CDFIs to deploy about $1.3 billion in loans for community development, according to …
[ad_2]
Source link