What sets ShoreBank
Corporation apart from other lending institutions?
ShoreBank is the nation’s first (and still its largest)
community development financial institution, or CDFI.
A CDFI is a specialized financial institution that works
in market niches that have not been adequately served by
traditional lending institutions. A CDFI can be a
community development bank, credit union, loan fund,
venture capital fund or microenterprise loan fund. CDFIs
provide a range of services including mortgage financing
for first-time homebuyers, financing for needed
community facilities and commercial loans to start or
expand small businesses.
The Leopold Center Marketing and Food Systems Initiative
is currently working with a number of organizations to
explore options that would increase the scope and
capacity of CDFIs to serve Iowa agricultural
entrepreneurs.
The U.S. Treasury Department operates the CDFI Fund
program that awards money and tax credits to
community-based organizations that work in low-income
urban and rural communities.
To find a list of certified CDFIs, go to the
CDFI
Fund web site.