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Community Development
Financial Institutions

In November 2020, the Citi Foundation announced 30 Community Development Financial Institutions (CDFIs) selected as recipients of a $15 million public request for proposals (RFP) issued earlier in the year. Each organization received $500,000 in unrestricted funding to support small businesses owned by people of color and lower-income individuals and communities across the country.

CDFIs play a vital role by not just for delivering capital but for supplying the hands-on support and assistance that businesses need. Through this investment the Citi Foundation aims to empower CDFIs to pivot, adjust or expand to address evolving needs and meet clients where they are as they face increased demand of their services due to COVID-19.

Read more about this effort in the Citi Foundation’s president blog.

To learn more about the organizations awarded please read the announcement.