Overview Fitch Ratings’ inaugural Community Development Financial Institution (CDFI) Peer Review summarizes the results of its first annual study of comparative financial information and ratios for a group of 24 CDFI loan funds (for a full list of the CDFIs that participated in the report, see page 7). This report covers financial information for fiscal year (FY) 2022 and the previous four fiscal years. The financial information included in this report was compiled based on Fitch’s review of CDFI audited financial statements. The CDFIs that are the focus of this Peer Review are primarily non-profit, non-depository lending institutions (known as CDFI loan funds). According to a report by the Federal Reserve Bank of New York, as of August 2023, there were 582 CDFI loan funds, representing 39% of the 1,487 certified CDFIs in the United States. As of Q1 2023, CDFI loan funds held $34.5 billion, or 8% of all CDFI assets. CDFI loan funds play a vital role in serving low-income, low-wealth communities by providing capital to individuals, businesses, and organizations that historically have not had access to mainstream sources of credit. CDFI loan funds provide financing, often in the form of low-interest rate loans, and technical assistance to individuals, small businesses, microenterprises, affordable housing developers, and community service organizations.
Wed 11 Oct, 2023