Impact on Communities
New York State’s Community Development Financial Institutions (NYS CDFIs) are uniquely positioned to utilize their expertise to leverage funds for economic development, small business expansion, and job creation.
From 2003-2018, NYS CDFIs provided $4.3 billion in loans to borrowers creating affordable homes, supporting the start-up and expansion of small businesses and millions invested in not for profit facilities like health care centers, day care centers and community centers across New York State. These investments have created 64,980 jobs.
Since 2002, NYS CDFIs have made New Market Tax Credit investments totaling $5.6 billion.
Source: Opportunity Finance Network, 2020; CDFI Coalition, 2019