Cash, Money & CDFIs – Where the Money Resides For Your Business!

In this Rich Black Woman Podcast episode we talk with Ron Brooks, president of River City Capital, a CDFI based in Memphis, Tennessee with a national vision to help small business owners get access to capital to grow their businesses. Did you know what a CDFI is? Do you know that these loan non profit organizations are backed by the U.S. Department of Treasury and are friendly to folks that look like you and me? Say what? Did you know they will help you in getting funded? Coaching you along the way! And then when you get funded they often will provide additional resources to help grow your business through their vast networks? Sounds too good to be true, or sounds like the good news has come and you are now in the know. Consider yourself enriched today! Tune into this valuable conversation about how to approach a CDFI, what to prepare, how not to be intimidated but be prepared to be elevated!

A Community Development Financial Institution (CDFI) is a specialized financial institution that operates with a primary mission to support economic and community development in underserved or economically disadvantaged areas. These institutions are designated and certified by the U.S. Department of the Treasury based on their commitment to provide financial services, such as loans, investments, and financial counseling, to individuals and businesses in low-income communities. CDFIs play a crucial role in promoting inclusive growth, offering access to capital for small businesses, affordable housing initiatives, and community development projects that might otherwise struggle to secure funding from traditional financial institutions. By targeting their resources towards underserved communities, CDFIs contribute to building stronger, more resilient local economies and fostering social impact through their financial services and community partnerships.

Resources: https://www.ofn.org/cdfi-locator/ to find a CDFI near you
Understand what a CDFI is and proof its legit!: https://www.cdfifund.gov/
Check out River City Capital: www.rivercitycapital.org
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