Advocacy Tour | Precision Hardwoods
In line with our advocacy tour, Congressman Jack Bergman, joined Stacy Esbrook from coalition member, Michigan Community Capital on a tour of Precision Hardwoods in Onaway, Michigan. Business owner Mike Sturgill had the chance to showcase his new facility and discuss the impact of New Markets Tax Credits, which made it possible to finance equipment […]
Crain’s Grand Rapids | Michigan Boosts Community Lenders with $5M Amid Federal Pullback
Crain’s Grand Rapids Business recently spoke with a Michigan CDFI Coalition member on the impact of state funding for Michigan CDFIs. Michigan is providing $5 million in new funding to community lenders that support small businesses and housing projects as the current administration attempts to gut federal support for the organizations.
The Kresge Foundation | Financing Opportunity: Q&A with Harold Pettigrew on the Future of the CDFI Sector
As the community finance field enters a new era—shaped by economic uncertainty, shifting capital flows, and growing calls for accountability—how can CDFIs prepare for what’s ahead? The Kresge Foundation spoke with Harold Pettigrew, the president and CEO of the Opportunity Finance Network (OFN) to help answer that question. This article is part of a series […]
The Kresge Foundation | The Next Chapter for CDFIs: State and Local Innovation
State-level coalitions are demonstrating how CDFI partnerships with state and local governments, philanthropy, and new allies can reduce reliance on federal funding and expand community impact. This article is part of a series highlighting the impact of CDFIs and how the sector is adapting to the current environment.
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 […]