Wisconsin CDFIs Gather for CDFI Day
Wisconsin’s Community Development Financial Institutions (CDFIs) will gathered in Madison on Tuesday, April 16 for the third Annual CDFI Day at the Capitol. Certified by the US Department of the Treasury, these 22 organizations are charged with lending in under-served markets, and as such bring value to the areas they serve. Loan products can include business financing, home ownership and home rehabilitation, consumer financing (auto, credit builder) as well as community economic development financing for the development of affordable housing and community facilities. CDFIs often partner with conventional lenders. From 2005 to 2017, these organization have lent over $2 billion, often to low- to moderate income households, people who face barriers to financing and to people of color, as well as to nonprofit organizations and affordable housing developers.
CDFI Day at the Capitol is designed to raise awareness of the value CDFIs bring to Wisconsin for partners, legislators and more. Events for the day included a private briefing with staff from the Governor’s office, followed by a news conference at 1:30 lead by Wendy Baumann and Mary Patoka. At 2 PM, CDFIs met with key legislative staff to understand how they can work with elected officials.
At 3 PM, two CDFI loan clients spoke on the impact of CDFI lending, including Ed Lee of the Urban League of Greater Madison and its homeownership program and Stephanie Sarr, co-owner of Savanna Beauty Supply.
The day will closed with a reception at the Premier Park Hotel from 4:30-6:00 pm, recognizing supporters of CDFIs in Wisconsin. Guests in attendance included Senator Alberta Darling, Rep. Katrina Shankland; Matt Feldman, President of the Federal Home Loan Bank of Chicago; Wyman Winston, former WHEDA ED and Kelly Ryan, Executive Director of Incourage Foundation based in Wisconsin Rapids.