This learning report sponsored by Citi, explores some of the lessons learned from US community investment that could inform the UK’s efforts to scale the social and economic impact of community lenders and promote inclusive growth.
Community investors in the US play an active role supporting small businesses to access finance and other non-financial support in underinvested communities. Community Development Finance Institutions (CDFIs) have grown in significance since their inception in the 1970s, and now manage $150 billion AUM across small business lending, affordable housing, community banking and credit unions. As a result, the US provides a wealth of lessons for the UK as it looks to significantly scale its community lending activity.
We are pleased to launch this report looking at the lessons learned from a visit in Autumn 2018 with five CDFIs to New York City that was supported by Citi. The report draws on the perspectives of 9 US CDFIs and 16 organisations that either represent, fund or support the policy agenda of CDFIs.