Black-led CDFIs


Community Development Financial Institutions, CDFIs, are nonprofit lenders that play a critical role in the economy by bringing investment and resources to communities that have historically been underserved. CDFIs are unique in that they are private financial institutions 100% committed to helping make the economic mainstream accessible. Their community lens and expertise help to mitigate opportunity barriers for underinvested groups, such as communities of color, which are disproportionately vulnerable to economic downturns and are frequently left behind in the recovery. In their role as economic shock absorbers, CDFIs are oftentimes regarded as America’s financial first responders

However, it has become clear that even within the CDFI industry there remains a funding disparity between Black-led CDFIs and their white counterparts. People of Color-led CDFIs consistently have a lower average asset size when compared to their white-led counterparts and in one study, it was found that white-led CDFIs held total assets of 6 times the amount held by POC-led CDFIs. These CDFIs are often smaller institutions serving low to moderate income areas but are central to advancing equity and uplifting Black communities. CDFIs empowering these communities of color are important for their cultural competence, maintain close ties with the communities they serve, and can better advocate for the challenges there – like limited access to affordable capital. 

Funding disparities between Black-led CDFIs and their counterparts limit their ability to leverage resources for the communities they serve – typically communities of color. These lenders are best poised to support promising Black businesses and sustainably create economic mobility. Compounded barriers like the harmful effects of the COVID-19 pandemic on Black and Brown communities, institutional and systemic racism in the financial services industry and beyond, as well as the continued brutalization and harassment of Black and Brown people at the hands of the police, all reinforce the need for our ongoing commitment to equitable capital access that we as a society have not yet achieved.

In partnership with the African American Alliance of CDFI CEOs, CNote is working to catalog and publicly share a list of Black-led CDFIs with the hopes of mobilizing more equitable capital for marginalized groups across the US. If you’d like to get deeper context into the issue, you can read this article we recently co-authored.

The list below can be filtered by keyword, state, and other criteria. When possible, we’ve tried to share website information so those interested can get in touch with leadership at these institutions themselves.

The goal of this initiative is to drive greater funding to Black-led institutions and address the persistent funding gap many of these Black-led organizations have and currently face.

Organization Name
Alamerica Bank-BirminghamBankAL2170 Highland Ave, Birmingham, AL 35205
Bronze Valley Corp-BirminghamVenture CapitalALP O Box 530644, Birmingham, AL, 35203Not available
Commonwealth National-MobileBankAL2214 St. Stephens Road Mobile, Alabama 36601
Demopolis Federal Credit Union - DemopolisCredit UnionAL106 E Washington St # A, Demopolis, AL 36732
New Pilgrim Federal Credit Union - BirminghamCredit UnionAL641 Goldwire Way SW, Birmingham, AL 35211
People Trust Community Loan Fund-Little RockLoan FundAR5300 West 65th Street, Little Rock AR 72209
Southern Bancorp Community Partners-Little RockLoan FundAR8924 Kanis Rd, Little Rock, AR 72205
Ampac Tri-State CDC-Grand TerraceLoan FundCA22365 Barton Rd Ste 304, Grand Terrace, CA 92313
Broadway Federal Bank-Los AngelesBankCA5055 Wilshire Blvd Suite 500, Los Angeles, CA 90036
Lendistry-BreaLoan FundCA330 E Lambert Rd #275, Brea, CA 92821
Pacific Coast Regional Small Business Corporation, LALoan FundCA3255 Wilshire Blvd #1501, Los Angeles, CA 90010
Industrial BankBankDC4812 Georgia Ave NW, Washington, DC 20011
NAPFE Federal Credit UnionCredit UnionDC1640 11th St NW, Washington, DC 20001
Washington Area Community Investment FundLoan FundDC2012 Rhode Island Ave NE, Washington, DC 20018
True Access Capital-WilmingtonLoan FundDE20155 Office Cir #2, Georgetown, DE 1994
BAC Funding Consortium Inc-Miami Loan FundFL6600 NW 27th Ave, Miami, FL 33147
Black Business Investment Fund Florida-OrlandoLoan FundFL301 E Pine St #175, Orlando, FL 32801
Manatee Community FCU- BradentonCredit UnionFL604 13th Ave E, Bradenton, FL 34208
Opa Locka CDC-Community Fund N Miami Dade-Opa LockaLoan FundFL490 Opa-locka Blvd, Opa-locka, FL 33054
Palm Beach County BBIC-RivieraLoan FundFL2001 Broadway Ave UNIT 210, Riviera Beach, FL 33404
Pensacola L & N Employees FCU-PensacolaCredit UnionFL251 Amber St, Pensacola, FL 32503
Tampa Bay BBIC-Tampa Loan FundFL1920 E Hillsborough Ave #222, Tampa, FL 33610
Urban League of Broward County-Fort LauderdaleLoan FundFL560 NW 27th Ave, Fort Lauderdale, FL 33311
Albany Community Together, Inc. -AlbanyLoan FundGA230 S Jackson St # 118, Albany, GA 31701
Carver State Bank-SavannahBankGA701 Martin Luther King Jr Blvd, Savannah, GA 31401
Citizen Trust-AtlantaBankGANot available
Chicago Neighborhood Init. Micro Finance Group-ChicagoLoan FundIL1000 East 111th Street, 10th Floor Chicago, IL 60628
GN Bank-ChicagoBankIL4619 S King Dr, Chicago, IL 60653
Israel Methcomm FCU - ChicagoCredit UnionIL7620 South Cottage Grove Avenue, Chicago, IL 60619Not available
Mt Zion CU-Zion Credit UnionIL2500 West 30th Street, Zion, IL 60099Not available
St. Mark Credit Union - ChicagoCredit UnionIL8441 S St Lawrence Ave, Chicago, IL 60619, UnitedNot available
The Chicago Community Loan Fund-ChicagoLoan FundIL29 E Madison St Ste 1700, Chicago, IL 60602
Afena Federal Credit Union - MarionCredit UnionIN414 N Bradner Ave, Marion, IN 46952
Mt. Zion Indianapolis FCU-IndianapolisCredit UnionIN3549 Boulevard Pl, Indianapolis, IN 46208 Not available
Union Baptist Church FCU-Fort WayneCredit UnionIN2200 Smith St, Fort Wayne, IN 46803
Liberty Bank-New OrleansBankLA6600 Plaza Dr #310, New Orleans, LA 70127
NewCorp Inc- New OrleansLoan FundLA2533 Columbus St #204, New Orleans, LA 70119
Southwest Louisiana Credit Union - Lake CharlesCredit UnionLA4056 Ryan St, Lake Charles, LA 70605
OneUnited Bank-BostonBankMA100 Franklin St, Boston, MA 02110
Baltimore Community Lending, Inc.-BaltimoreLoan FundMD875 Hollins St # 301, Baltimore, MD 21201
Enterprise Community Loan Fund, Inc.-ColumbiaLoan FundMD70 Corporate Center 11000 Broken Land Parkway, Suite 700. Columbia, MD 21044
FSC First-LargoLoan FundMD1801 McCormick Drive Suite 300. Largo, MD 20774
Harbor Bank Of Maryland -BaltimoreBankMD25 W. Fayette Street. Baltimore, MD 21201
Housing Options and Planning Enterprises - Oxon HilLoan FundMD 6188 Oxon Hill Rd #700, Oxon Hill, MD 20745
MD Capital Enterprises-SalisburyLoan FundMD212 W Main St #400, Salisbury, MD 21801
First Independence Bank-DetroitBankMI7020 W Seven Mile Rd, Detroit, MI 48221
African Development Center of Minnesota-MinneapolisLoan FundMN1931 S 5th St, Minneapolis, MN 55454
First Unity Federal Credit Union - McCombCredit UnionMS122 5th Ave, McComb, MS 39648 Not available
Hope Credit Union (Jackson Multiple States)Credit UnionMSHope Federal Credit Union 4 Old River Place, Suite A, Jackson, MS 39202
Hope Enterprise Corporation- JacksonLoan FundMS4 Old River Pl A, Jackson, MS 39202
Small Business Capital Fund of Mississippi, Inc.-JacksonLoan FundMS802 North St, Jackson, MS 39202
Carolina Small Business Development Fund – RaleighLoan FundNC3128 Highwoods Blvd #170, Raleigh, NC 27604
Greater Kinston Credit Union-KinstonCredit UnionNC901 N Queen St, Kinston, NC 28501
Local Government Federal Credit Union-RaleighCredit UnionNC3600 Wake Forest Road, Raleigh, NC 27609
Mechanics & Farmers – DurhamBankNC116 W Parrish St, Durham, NC 27701
North Carolina Community Development Initiative - DurhamLoan FundNC5800 Faringdon Pl, Raleigh, NC 27609
Piedmont Business Capital - GreensboroLoan FundNC1451 S Elm-Eugene St #2121, Greensboro, NC 27406
Carver Federal Savings, New YorkBankNY1009 Nostrand Ave, Brooklyn, NY 11225
Concord Federal Credit Union - BrooklynCredit UnionNY833 Gardner C. Taylor Boulevard, (Formerly, Marcy Ave, Brooklyn, NY 11216
Greater Jamaica Development Corporation-Jamaica Loan FundNY90-04 161 St, Jamaica, NY 11432
Harlem Entrepreneurial Fund-New YorkLoan FundNY361 W 125th St 2nd floor, New York, NY 10027
LISC-NYLoan FundNY28 Liberty St, New York, NY 10005
National Miniority Supplier Development Council Business
Consortium Fund, Inc- New York
Loan FundNY575 Lexington Avenue, 4th Floor. New York, NY 10022
TruFund Financial Services, Inc.- New YorkLoan FundNY39 W 37th St, New York, NY 10018
Upper Manhattan Empowerment Zone Devlop Corp-New YorkLoan FundNY55 W 125th St, New York, NY 10027
Toledo Urban Federal Credit Union - ToledoCredit UnionOH1441 Dorr St, Toledo, OH 43607
Village Captital Corp-ClevelandLoan FundOH11327 Shaker Blvd #500w, Cleveland, OH 44104
Beech Companies, PhiladelphiaLoan FundPA1510 Cecil B. Moore Ave Suite 300, Philadelphia, PA
Meridian Management Loan FundPANot availableNot available
The Enterprise Center - PhiladelphiaLoan FundPA4548 Market St, Philadelphia, PA 19139
United Bank Of PhiladelphiaBankPA1501 N Broad St #17, Philadelphia, PA 19122
Beaufort County Black Chamber of Commerce-BeaufortLoan FundSC711 Bladen St, Beaufort, SC 29902
South Carolina Community Bank (Now Optus Bank)-ColumbuaBankSC4103 W Beltline Blvd, Columbia, SC 29204
Citizens Savings-NashvilleBankTN2013 Jefferson St, Nashville, TN 37208
Knoxville Urban League-KnoxvilleLoan FundTN1514 E 5th Ave, Knoxville, TN 37917
Metropolitan Teachers Credit Union - NashvilleCredit UnionTN1605 Jefferson St, Nashville, TN 37208
Nashville Firemen Credit UnionCredit UnionTN908 Woodland St, Nashville, TN 37206
The Housing Fund-NashvilleLoan FundTN50 Vantage Way, Nashville, TN 37228
Tri-State Bank Of Memphis-MemphisBankTN4606 Elvis Presley Blvd, Memphis, TN 38116
Houston Business Development-HoustonLoan FundTX5330 Griggs Rd, Houston, TX 77021
Texas Mezzanine Fund-DallasLoan FundTX320 S R L Thornton Freeway Service Rd, Dallas, TX 75203
Appalachian Community Capital-ChristiansburgLoan FundVA110 Peppers Ferry Rd NW, Christiansburg, VA 24073
Capital Impact Partners-Arlington Loan FundVA1400 Crystal Dr Suite 500, Arlington, VA 22202
Columbia Savings & Loan-MilwaukeeBankWI2020 W Fond Du Lac Ave, Milwaukee, WI 53205
Forward Community Investments-Madison Loan FundWI2045 Atwood Ave, Madison, WI 53704
LRC-Legacy Redevelopment Corp-MilwaukeeLoan FundWI1536 W North Ave, Milwaukee, WI 53205

Take Action

Want to do more? Contact the African American Alliance of CDFI CEOs.
Contact AAA of CDFI CEOs
Interested in investing in a Racial Justice Note to support Black-led CDFIs? Click below to register your interest and a team member will be in touch.
Contact Cnote

*To illustrate, between FY14 and FY17 total assets at Black-led CDFIs increased by 14% while they were up more than 160% at white-led CDFIs. Similarly, the average asset size was down 1% for Black-led CDFIs while it was up 192% at white-led CDFIs. (source)

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