Community Development Financial Institution (CDFI)
Civic Communities is a certified Community Development Financial Institution (CDFI). CDFIs are certified through the federal CDFI Fund. CDFIs share a common goal of expanding economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses. CDFIs help families finance their first homes, support community residents start businesses, and invest in local health centers, schools, or community centers. CDFIs strive to foster economic opportunity and revitalize neighborhoods.
Community Development Entity (CDE)
Civic Communities is a certified Community Development Entity (CDE). CDEs are certified through the federal CDFI Fund. A CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments, or financial counseling in low-income communities. Certification as a CDE allows organizations to apply to the CDFI Fund to receive a New Markets Tax Credit (NMTC) allocation to offer its investors in exchange for equity investments in the CDE and/or its subsidiaries; which are used to invest in high-impact projects in low-income communities.
