BLOOMINGTON – Bloomington Mayor John Hamilton and CDFI Friendly Bloomington (CFB) Executive Director Jane Kupersmith attended the kickoff event for CDFI Friendly Evansville Region, the newest sibling organization in the CDFI Friendly America (CFA) network. Mayor Lloyd Winnecke and the CDFI Friendly Evansville Region Advisory Group hosted 150 individuals, including community and CDFI partners, at the University of Evansville Campus on May 17.
Mayor Hamilton spoke about the impact of the friendly model on Bloomington and the power of CDFIs. The event also featured speakers from CDFI Friendly Fort Worth, CDFIs from around the Midwest region, economic development partners, and nonprofits from Evansville.
In 2018, Bloomington became the nation’s first “CDFI Friendly” city, a new strategy developed for the unique challenges of smaller communities to increase flexible and affordable financing for businesses, nonprofits, affordable housing, and other community projects. CDFI Friendly Bloomington, a 501(c)3 nonprofit, has attracted $24.5 million in capital investment to our region since its launch. Learn more at: cdfifriendlybtown.org.
Community Development Financial Institutions, or CDFIs, are specialized organizations that provide financial services in low-income communities and/or to persons or organizations who lack access to traditional financing. CFB provides technical assistance for organizations that seek nontraditional financing opportunities and works to connect potential borrowers with CDFI funders.
CFB has helped facilitate affordable housing, small business capitalization, public art installations, a pandemic-relief loan fund, and a grant and loan program to help individuals and organizations install green infrastructure.
In October 2019, CFB partnered with CDFI Cinnaire local nonprofit Centerstone to break ground on Kinser Flats, an apartment complex with on-site services for individuals in recovery from substance abuse and those coping with mental health challenges, among other needs. The project has also received financial support from the City of Bloomington and the Indiana Housing and Community Development Authority (IHCDA).
“Building bridges and creating access to resources are ways to build community and strengthen our city,” said Mayor John Hamilton. “We have experienced the multiplying benefits of becoming a CDFI-friendly city over the last five years and welcoming more Indiana cities into the CDFI Friendly network increases opportunity, equity, and the tremendous potential in shared ideas.”
