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A Community Development Financial Institution (CDFI) provides capital, credit, and financial services to markets and populations that are underserved by traditional financial institutions. Communities can rebuild their physical environments and help businesses create jobs by accessing the capital and services of a CDFI.
CDFIs provide a unique range of financial products and services in economically distressed target markets, including mortgage financing for low-income and first time homebuyers and non-profit developers, flexible underwriting and risk capital for community facilities, and technical assistance, commercial loans and investments to start-up or expanding businesses in low-income areas.
In 2010, IHCDA incorporated the Community Investment Fund of Indiana, Inc. (CIFI) to be certified as a statewide, non-profit CDFI. CIFI offers risk capital, loans, mezzanine financing, and other support for community revitalization initiatives, including commercial and mixed-use development, entrepreneurship and small business expansion, community facilities, and light industrial projects. For more information about CIFI and projects that might be elligible for CIFI's support, visit our website coming soon.