While the Center for Rural Affairs has been lending to small businesses since 1990, it created an accompanying legal entity, Community Capital, in 2013 to extend lending in rural communities. The Center then received its CDFI certification to strengthen its approach to lending, education, and technical assistance.
All CDFIs are certified by the U.S. Department of the Treasury, in part to ensure that at least 60% of borrowers are part of an underserved target market who may not otherwise have access to affordable loans.
Earlier this year, after a two-year recertification process, the Center received its renewed certification agreement.
In 2024, the U.S. Department of the Treasury's Community Development Financial Institutions Fund released an updated CDFI certification application designed to increase flexibility and transparency in the CDFI certification process.
Two important revisions were added to the certification process:
- Reforms to prevent borrowers from being taken advantage of by predatory lenders, motivated by profit over the core mission of serving low-income and underserved communities.
- Applicants were required to submit information on their financing practices to meet the CDFI certification requirements for responsible reporting standards.
By obtaining recertification under more strenuous requirements, the Center demonstrates its commitment as a mission-driven lender, filling gaps in mainstream finance to build wealth and revitalize rural communities.
As a CDFI lender, the Center specializes in lending to individuals, organizations, and businesses in under-resourced communities, offering clients financial education, business coaching, and access to affordable capital.
Learn more at cfra.org/certified-cdfi
