In this blog, I will be answering a few questions on financing and how it is being used in the two of the following companies. The first company is CDFI Coalition of Community Development Financial Institutions. The second company is Corporation for Enterprise Development (CFED), a non-profit organization based in Washington D.C. Both CDFI and CFED's purpose is to help access financial resources and expand economic opportunity for low-income families and communities.
What types of financing opportunities are described on the websites?
CDFI Coalition's financing opportunities include loan funds, banks, credit unions, micro-enterprise lenders, corporations and venture capital funds all in community development.
Some of the financial opportunities that are described on CFED's website are the American Dream Match Funds, Asset Building for Children, Individual Development Accounts, innovation@cfed, Manufactured Housing and Self-Employment Tax Initiative.
What are some of the requirements and qualifications to obtain the financing?
When looking at CDFI Coalition's website; they had several members who were associated with them. After looking through some of the other websites, they only way to obtain any assistance was to simply apply fir it. These organizations are for low-income families and communities, therefor everybody isn't eligible for assistance.
After looking through the website, it seems that one would also have to apply through their local government to access assistance from the organizations.
What other types of information are available on the sites?
Other information that may be available on these sites are not only financial assistance but housing, community building education and jobs as well. These organizations are trying to help build the rural areas become a part of the working middle class. The are trying to help those who are trying but are unable to fully help themselves.
Some advantages that may result in the assistance of these organization could be financing for foreclosures, rebuilding one's home and funds for a college education. After carefully examining the two websites, I don't believe there to be any disadvantages from using alternative financing. The only possible disadvantage I believe to be is not being eligible to qualify for any assistance.
Sources:
