Sen. Mark Warner on the Tax Credit Helping Minority-Owned Businesses Thrive
Community Development Financial Institutions (CDFIs) dedicate 60% of their lending to low- and moderate-income communities. Listen in to see how Senator Mark Warner is working to encourage increased investment into CDFIs which in turn could result in more funding for small businesses in those communities.
00:24 — An introduction to CDFIs
03:14 — The prevalence of unbanked or underbanked businesses
05:38 — Examples of CDFIs
07:44 — The State Small Business Credit Initiative (SSBCI)
09:57 — Incentivizing private investors to invest in CDFIs
14:31 — Who does the CDFI bill target?
15:41 — When might this bill pass?
17:50 — The importance of going out and borrowing money