Crain’s Grand Rapids | West Michigan Community Lenders Face Funding Battle After Trump Order
Crain’s Grand Rapids Business recently spoke with Michigan CDFI Coalition members on the importance of federal funding. President Trump’s executive order targeting a pot of money used to make loans to small businesses will require community lenders to step up and prove their effectiveness to retain the funding.
Executive Order Statement from The Michigan CDFI Coalition and The Detroit CDFI Coalition
March 18, 2025 On March 14, President Trump signed an executive order limiting several federal agencies to their core statutory functions. This order could put the important work of the Community Development Financial Institution (CDFI) Fund administered by the U.S. Department of the Treasury at risk. The CDFI Fund certifies organizations to be CDFIs and […]
Warner, Crapo Lead Colleagues in Letter Reaffirming Support for Community Development Financial Institutions
U.S. Sens. Mark R. Warner (D-VA) and Mike Crapo (R-ID), co-chairs of the Senate Community Development Finance Caucus, led a letter to the Trump administration signed by 23 senators emphasizing the bipartisan support for the Community Development Financial Institutions Fund (CDFI Fund), and highlighting the fund’s critical role in providing capital to underserved communities. The […]
Crain’s Detroit | Lenders Sound Alarm over Trump Order Targeting Critical Development Funding Tool
Crain’s Detroit Business recently spoke with The Michigan CDFI Coalition on the importance of federal funding. Community lenders and developers are scrambling to determine the ramifications of a late Friday executive order from the Trump administration targeting a relatively small pot of federal money that has a substantial impact on Detroit commercial real estate development. […]
Pulse 2.0 | Michigan CDFI Coalition: $186.9 Million In Federal Funding Awarded To 9 Institutions
Pulse 2.0 recently highlighted the Michigan CDFI Coalition, recognizing the significant federal funding awarded to support economic revitalization across the state. Over $186.9M in federal funds was awarded to nine Michigan Community Development Financial Institutions (CDFIs) to strengthen their capacity and advance their missions in underserved communities statewide.
Crain’s Grand Rapids Business | Michigan Small Business Microloan Programs Get $11M Boost
Milinda Ysasi of coalition member, Grow, recently spoke with Mark Sanchez of Crains Grand Rapids Business. Grow, a Grand Rapids-based community development financial institution, provides microloans to support small businesses. The nonprofit lender assisted Valentina Valdes-Alonso with a $5,000 loan for Sol Design, offering financing without the burden of high interest rates or steep monthly […]
WNMU | Marquette CDFI Receives Federal Monetary Award
Coalition member Northern Initiatives was recently highlighted by WNMU’s, Nicole Walton, for receiving $625,000 in federal Financial Assistance Awards. Based in Marquette, Northern Initiatives is one of nine Michigan Community Development Finance Institutions (CDFIs) selected for this funding. The award will help strengthen CDFIs’ capacity to grow, achieve organizational sustainability, and support the revitalization of […]
Michigan Business Beat | Jennifer Hayes, Michigan CDFI Coalition – Celebrating One Year
Jennifer and Jeffrey had a discussion about the Michigan CDFI Coalition. Michigan Community Development Financial Institutions (CDFI) Coalition is celebrating its one year of operations. The coalition is committed to providing financial resources to underserved borrowers and supporting economic growth in Michigan.
Michigan CDFI Coalition celebrates 1st year; enters ‘24 with plans to broaden reach, deepen impact
In the midst of the December holiday season, the Michigan CDFI Coalition had one more reason to celebrate: its one-year anniversary since the coalition’s founding in late 2022. Emboldened by their first year as an organization, the MI CDFI Coalition enters the new year with a new website, a more active social media presence, and […]
3 Michigan lenders secure $170M in federal tax credits to deploy in distressed communities
Three community lending organizations in Michigan received a combined $170 million through a federal tax credit program that’s meant to spur investments in low-income communities. Michigan Community Capital, Cinnaire New Markets LLC and Invest Detroit CDE were awarded $65 million, $60 million and $45 million, respectively, through the New Markets Tax Credits Program, the U.S. […]