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See how Michigan CDFIs are invested in community.

Equitable Focus

CDFIs support BIPOC-owned, women-owned, startups, low-income borrowers, and other communities experiencing persistent difficulty obtaining loans or funding.​

55+ Michigan CDFIs

Michigan is home to more than 55 certified CDFIs with 47 headquartered in Michigan, including 24 loan funds, 30 credit unions, and one CDFI bank.

$550 Million+

In FY 2023 alone, Michigan CDFIs deployed more than $550 million. These funds helped create jobs, affordable housing, financial health, and opportunity for all.*

*US Dept of Treasury, 2023

$1.8B+

In NTMC investments supporting 156 projects

$6.3B

In loans deployed
*(2005-2023)

$1.53B

In PPP loans for Michigan businesses and nonprofits**

<2%

Average default rate*

*Represents data from the US Department of Treasury 2005-2023
**Represents data from the SBA for the PPP 2020/2021

As of 2023, Michigan CDFIs have continued to make a positive impact on Michigan's economy.

Data provided by the CDFI Fund, US Department of Treasury through TLR reporting through FY 2023.

$6.3B

In loans deployed
*(2005-2023)​

1,500+

Projects supported

50,000+

Jobs created and retained

64,000+

Number of unique loans

28M

Square feet of real estate developed

26,000+

Small or micro-businesses supported

18,000+

Housing units developed, 72% of which are affordable

31,000+

Unique Consumer loans

2023 Loan Fund Data

The following represents a snapshot of Michigan’s CDFI FY 2023 data as reported by 12 of the 16 Michigan-based CDFI nonprofit loan funds, one credit union coalition member, and 3 multi-state CDFI loans funds with a long history of investing in Michigan.

Data sourced and compiled by Public Policy Associates.

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PPA Website

$110,256,976

Deployed in Michigan​

684

Total Loans

2,367

Jobs Created or Retained​

1,281

Affordable Housing units created

Michigan CDFIs are lending where it counts.

In 2024, Michigan CDFIs funded 632 loans to projects and businesses. These figures are based on loan fund data only. Of these projects and businesses, there were:

55%

BIPOC-owned

55%

Women-owned

46%

Low-income borrowers

34%

Startup companies

There are 50+ CDFIs that are making an impact all across Michigan.

Michigan CDFIs are invested in communities across the state. With over 50 CDFIs making their home here, these CDFIs are supporting small businesses, affordable housing, and job creation.

This means that no matter where you are in Michigan, you will have access to capital and resources in your own community.