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This Program Makes Loans To Businesses In Distressed Areas: Trump Wants To Cut It

Josh Summers and Mark Zandi

The White House FY2018 Budget Proposal zeros out funding for the Community Development Financial Institutions Fund. The CDFI Fund makes grants and loans to CDFIs--financial institutions that go to places where banks and other private financial institutions won't go because it isn't profitable. The over 1,000 CDFIs in the US make loans to small businesses, affordable housing providers, health centers, and grocery stores in some of the most disinvested communities.