Entrepreneur Works’ Statement on the Elimination of CDFI Funding in the 2018 Federal Budget Proposasl
In response to the current administration’s proposal to eliminate funding for the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) grants, Entrepreneur Works would like to highlight the impact of the CDFI Fund on the southeastern Pennsylvania region.
Since 1998, Entrepreneur Works has dispersed $1.6 million dollars to businesses in Philadelphia, Chester, Bucks, Delaware, and Montgomery counties. Each week, Entrepreneur Works hears from business owners who are looking for small, manageable amounts of loan capital that will help their businesses to grow and create more jobs. Many of these businesses were turned down by banks because of thin credit history, lack of collateral or simply because they are new to business lending and need assistance completing the loan application. With help from Entrepreneur Works, these business owners get the support they need to start or grow their business and are proof of the power of CDFIs to create jobs and bring new opportunities to underserved communities.
Entrepreneur Works encourages everyone who believes in the continuation of its mission to contact their Congresspersons and Senators in support of the CDFI Fund.