Help CDFI Bill Pass in Congress!

The reason the CDFI program has been so successful is because it is a community oriented grass roots lending program. Each CDFI lender located in the U.S. is supported by the U.S. Treasury Department. Though the way they are funded is a bit complicated, what is important is that they have been a lifeline for small undercapitalized businesses seeking loans of as low as $35,000 to as high as about $300,000. The program sits in the shadow of the SBA’s loan programs only because many borrowers don’t know about them.

See my previous post on how the CDFI program works.

Congressman Gutierrez (D- IL) is seeking support to provide additional funds to the CDFI lenders. The CDFI Coalition is asking anyone who believes in adding funds to this valuable program to contact their congressmen today to ask them to sign on to the Gutierrez letter.

Please take a few minutes and contact your Representative and urge them to sign on to the letter.  The sign-on-letter and a dear colleague from Rep. Gutierrez are available here. 

Below is a list of Representatives that have signed the letter so far.

Sam Thacker is a partner in Austin Texas based Business Finance Solutions.

You may contact Sam directly at: sam@lesliethacker.com

or follow him on Twitter: SMBfinance

EXTRA: If you have questions for Sam regarding business financing, the credit market, and similar issues, please send an e-mail. Your questions will be recorded and Sam will answer the best ones in his Ask the Expert podcast show.