CDFI - Community Development Financial Institution

Community Development Financial Institution (CDFI)

A Community Development Financial Institution (CDFI) is a relatively new federal program, supported by the U.S. Department of Treasury CDFI Fund, to support faster economic growth in Indian communities. It has a different concept, as CDFI assistance is in the form of loans, not grants, and the money must be paid back with interest. The CDFI mission and purpose is not to duplicate the services of traditional financial institutions, but to serve low and moderate income clients who have not been able to access credit from these sources.

In addition to the loan sources, CDFI's are required to provide its clients with a wide range of developmental services including basic financial literacy, credit management, credit analysis and repair, mortgage and loan responsibilities, and personal and business financial planning.

The LRCDC CDFI is a Treasury Department certified CDFO. To date, the CDFI has completed 6 loans for housing rehabilitation to members of the Lumbee Tribe.

E-mail lrcdc@lumbee.org with questions or comments about this site.

Last modified: November 7, 2007

This site is created and maintained by the Lumbee Regional Development Association, Inc. of Pembroke, NC. While we do provide the most current and informed materials on the Lumbee River Communities, we do not claim to be the Official Website of the Lumbee Nation. Copyright 2006. No portion of this site may be reproduced without permission.
To obtain permission e-mail lrda@lumbee.org