Video & Transcript Research : 'CDFI'

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HI
HI

Hawaii 2026 Regular Session

House Chamber - Mon Apr 6, 2026, 12:00PM HST - Day 39

Hawaii House Floor Meeting

HI
HI

Hawaii 2026 Regular Session

CPC-CPN Joint Info Briefing - Mon Apr 6, 2026 @ 2:00 PM HST

Hawaii House Floor Meeting

HI
HI

Hawaii 2026 Regular Session

WAM-CPN, WAM Public Hearings 04-07-2026

Ways and Means

Bills: HB2583, HB1591, HB1749, HB2423
Keywords: HB2583, Hawaii Micro-Lending Credit Enhancement Program, DBEDT, Department of Business, Economic Development, and Tourism, micro-loan, microloan, small business lending, small business financing, loan loss reserve, first-loss reserve, credit enhancement, partial guarantee, risk-sharing, community development financial institution, CDFI, working capital, inventory financing, equipment financing, leasehold improvements, startup loans
Summary: The joint Ways and Means and Consumer Protection meeting was a decision-making session on a series of House bills, with no oral testimony taken. The committees first acted on HB 2583, recommending passage on amended, and HB 1591, recommending passage with amendments related to health care. They also recommended passage on amended for HB 1749 on cesspools and HB 2423 on biodiesel, with each recommendation adopted by the members present. The committees then considered a second agenda block that included HB 2080, HB 1520, HB 1576, HB 1711, HB 1785, HB 1802, HB 1838, HB 1842, HB 1853, HB 1976, HB 2104, HB 2218, HB 2246, HB 2270, HB 2289, HB 2361, HB 2551, and HB 2606. Most were recommended for passage unamended and adopted without objection. HB 1520 was deferred because the Senate bill had already crossed over. HB 1711 was amended to replace the option period established by the corporation with a period of up to 10 years. HB 2289 was amended to remove repeal of a ceiling and set a $1 million expenditure ceiling for the automated victim information and notification system special fund. Several members noted reservations on HB 1842, which involved transfer of the Westridge parcel near a rail station; concerns were raised about the property’s value, the long-term lease status, and whether the city would actually accept or pursue the transfer. HB 1853 was passed unamended, with the committee noting the Lions Association had suggestions that could be addressed later in conference. HB 2218 was passed unamended while adopting DLNR testimony to clarify collaboration with community groups in stewarding public lands and recreational areas. In each case, the stated recommendations were adopted, often with members voting no with reservation rather than in opposition.
MA
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Community Development and Small Businesses Jun 21st, 2026 at 10:00 am

Joint Committee on Community Development and Small Businesses

Transcript Highlights:
  • Yes, CDFIs are very important because they are boots on the ground.
  • Dorchester Bay is the only Boston-based CDC that is also a CDFI.
  • As a CDFI, the federal administration has been targeting the CDFI Fund, seeking to dismantle it, and
  • One is for the Commonwealth to increase support for CDFIs.
  • Earlier, I think it was Senator Gómez who asked a question about how much CDFIs get from the CDFI Fund
Keywords: 995, all
Summary: The Joint Committee on Community Development and Small Business held an informational hearing focused on the conditions facing small and micro businesses in Massachusetts and the state programs intended to support them. Chairs Andy Vargas and Adam Gomez opened by emphasizing equitable economic development, the importance of CDFIs, and the need to help underserved entrepreneurs, especially women, minorities, veterans, immigrants, and other groups facing barriers. Committee members noted the hearing would not take up bills, and testimony was limited to 10 minutes per organization. State and quasi-public agency witnesses described current programs and funding. Dico Gibral of the Executive Office of Economic Development highlighted the Business Front Door, multilingual access, small business office hours in Gateway Cities, and funding in the Mass Leads Act, including support for CDFIs, small business technology, and capital grants. Tom Hooper of Commonwealth Corporation described workforce training programs such as the Workforce Training Fund, Workforce Competitiveness Trust Fund, and Career Technical Initiative, saying they help small businesses train workers, fill labor shortages, and support returning citizens and people with disabilities. Committee members asked about federal funding uncertainty, workforce migration, training schedules, and program uptake. Business and advocacy groups focused on cost pressures and regulatory burdens. The Massachusetts Restaurant Association urged continuation of outdoor dining and takeout alcohol sales, and pressed for relief from high credit card swipe fees, support for surcharging, and streamlining municipal licensing. The Retailers Association of Massachusetts cited survey results showing inflation, utility costs, payroll taxes, health insurance, and interchange fees as major concerns, and said many members might sell or close within five years; it also backed ending the state prohibition on surcharging and creating an Office of Main Streets Massachusetts. MACDC, BECKMA, and the Coalition for an Equitable Economy emphasized the need for more technical assistance, CDFI and small business funding, and protections against rising costs, tariffs, supply chain disruptions, and immigration enforcement impacts on immigrant-heavy business districts. No votes were taken.
MN
MN

Minnesota 2025-2026 Regular Session

Committee on Jobs and Economic Development - 03/23/26

Jobs and Economic Development

Transcript Highlights:
  • and especially our CDFI coalition. and especially our CDFI coalition.
  • 17.760> and<01:26:17.920> CDFIs<01:26:18.400> in over 35 certified CDFIs and CDFIs
  • The Minnesota CDFI supported by CDFIs.
  • LISC is a CDFI.
  • CDFI. They would be able to look at CDFI.
Keywords: 1187, senate, all
MN
MN

Minnesota 2025-2026 Regular Session

Grant for lender serving underserved entrepreneurs 3/3/26

Minnesota House Floor Meeting

Transcript Highlights:
  • And because of the lack of flexibility that's allowed at a bank or at a CDFI, Fortis can come in with
  • And because of the lack of flexibility that's allowed at a bank or at a CDFI, Fortis can come in with
  • And because of the lack of flexibility that's allowed at a bank or at a CDFI, Fortis can come in with
  • And because of the lack of flexibility that's allowed at a bank or at a CDFI, Fortis can come in with
  • , at a bank or at a CDFI, at a bank or at a CDFI, foreigners<00:08:44.880> can<00:08:45.040
Keywords: 1183, house
Summary: House File 2581 was presented as a request for a $1 million state investment in Fortis Capital, a Minnesota nonprofit economic development lender. The bill was described as supporting entrepreneurship and wealth-building by expanding access to capital for businesses that are underserved by traditional lending, especially in rural areas, communities of color, immigrant communities, and low-wealth areas. Testifiers argued that conventional underwriting standards leave viable businesses without financing and that Fortis provides flexible gap financing to help deals close, complementing rather than replacing banks and CDFIs. Brian Smith, co-founder and CEO of Fortis Capital, said the organization was established in 2019 and has deployed 37 loans totaling over $4 million since 2021, leveraging an additional $29.5 million through partnerships. He said Fortis seeks to increase lending capacity, reduce risk in innovative capital structures, expand statewide partnerships, and accelerate small business growth and job creation. In response to questions, he said Fortis typically charges about 6.12% on average, has had two defaults, and operates as a revolving loan fund. He also explained that Fortis already participates in some Department of Employment and Economic Development programs, but is not eligible for certain grant programs because those grants go directly to borrowers. Committee members asked how the proposal fits with existing state economic development efforts and whether competitive grant programs exist for this kind of work. A DED representative said he would need more detail to compare the proposal to agency programs, though he mentioned the emerging entrepreneur loan program as a possible fit. Members also discussed broader concerns about direct appropriations versus competitive grants. No public testimony was offered. Chair Frasier closed by saying the bill addresses a real need and laid House File 2581 over for possible inclusion in a budget bill.
NM
NM

New Mexico 2025 Regular Session

IC - Investments and Pensions Oversight Aug 13th, 2025

Investments & Pensions Oversight Committee

Transcript Highlights:
  • The CDFIs, they're mostly non-profit corporations, and they receive their CDFI designation from the United
  • Turinghouse CDFI is a very large CDFI located in California.
  • This is a brand new CDFI, newly created, but it's.
  • The CDFI has really helped with that part of the process.
  • But I think that the CDFIs have more flexibility.
MN
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 4/8/26

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • There are over 35 CDFIs and CDFIs in process in Minnesota, and these are economic first responders and
  • There are over 35 CDFIs and CDFIs in process in Minnesota, and these are economic first responders and
  • Peter, Brainerd, and more, all communities where CDFIs have partnerships and Where CDFIs have partnerships
  • > that<00:58:59.160> provides WomenVenture is a CDFI that provides WomenVenture is a CDFI
  • Um with those CDFIs who do that work.
Bills: HF4477
Keywords: Minnesota business recovery loan program, small business loan, zero-interest loan, forgivable loan, business recovery, economic development, small business emergency loan account, Minnesota Initiative Foundations, nonprofit lenders, greater Minnesota, Twin Cities metro, seven-county metropolitan area, immigration enforcement, business interruption, revenue loss, job preservation, business stabilization, state appropriation, forward fund, loan forgiveness
MN
MN

Minnesota 2025-2026 Regular Session

Rep. Frazier Press Conference 4/13/26

Transcript Highlights:
  • I'm also the board chair of our CDFI coalition that serves all of Minnesota.
  • I'm also the board chair of our CDFI I'm also the board chair of our CDFI coalition<00:10:07.320>
  • > and CDFI supports small businesses and CDFI supports small businesses and housing. housing.
  • CDFIs are economic first responders.
  • We will use our CDFIs.
Keywords: 1183, house
Summary: Representative Cedric Frazier opened the meeting by describing the ongoing harms from Operation Metro Surge, saying the state was still dealing with family separation, school disruption, workforce damage, and economic instability. He framed the issue as a statewide crisis and called on Republican colleagues to acknowledge the harm and work with DFL members on accountability and relief. He said the current budget work was urgent but could not fully backfill the damage, and later noted that the issue had been a top priority since the surge began. Testimony from school and business leaders focused on concrete impacts. Fridley Public Schools Superintendent Brenda Lewis said her district, which serves a large Black, Hispanic, and East and West African student population, was targeted during the surge and saw major enrollment losses, including students moving out of state or country or being held in Texas facilities. She said the district lost over $1 million in revenue and that the loss could equal about 40 teachers or an entire elementary school. Columbia Heights School Board Chair Mary Granlund said her district, with a limited tax base, was also heavily affected and warned that business closures and unfunded mandates would shift costs to homeowners and force cuts to classes, teachers, and programs. Lee Ann Rasiejka of Women Venture and the CDFI coalition said small businesses across Minnesota were facing compounded disruption from federal law enforcement activity, tariffs, rising costs, and fear, with more than $213 million in lost revenue reported across Twin Cities corridors and many businesses cutting hours, delaying hiring, or pausing growth. In response to questions, Frazier and other speakers said the proposed aid would be statewide rather than focused only on the Twin Cities, and that the bill currently had no set dollar amount but they hoped for around $100 million. They said CDFIs and local community groups would help distribute resources. Frazier said some Republican members had acknowledged harm in their own communities and suggested compromise was possible, though he criticized leadership for dismissing some testimony as hearsay. He also said ongoing law enforcement investigations into alleged crimes by federal agents would not be necessary to establish the harm, pointing instead to direct testimony from affected residents and school officials. No votes were taken in the portion provided.
NM
NM

New Mexico 2025 Regular Session

IC - New Mexico Finance Authority Oversight Aug 12th, 2025

New Mexico Finance Authority Oversight Committee

Transcript Highlights:
  • So it is a lot of credit unions and banks may have CDFIs.
  • You mentioned a contract with an RFP for a CDFI.
  • The Climate Investment Center, as Ryan mentioned, is a startup CDFI.
  • This is how many CDFIs get funded.
  • Representative Lujan asked about CDFIs.
MN
MN

Minnesota 2025 1st Special Session

Committee on Jobs and Economic Development - 03/19/25

Jobs and Economic Development

Transcript Highlights:
  • The services that CDFI it's not.
  • Um CDFIs are are a cards instead.
  • CDFI organizations. CDFI organizations.
  • > and<01:03:22.720> nonprofit we as CDFI organizations and nonprofit we as CDFI organizations
  • uh the the gap that CDFIS are filling. uh the the gap that CDFIS are filling.
Keywords: 1187, senate, all
NM
NM

New Mexico 2025 Regular Session

IC - Investments and Pensions Oversight Sep 12th, 2025

Investments & Pensions Oversight Committee

Transcript Highlights:
  • It's not something you can take to a CDFI or a bank, but it is something that you could take to Advance
  • So we still think, again, we have partners that are going to be using their own, whether it's a CDFI,
  • it's likely to be a CDFI, honestly.
  • But they have the broad capacity under their program, and they're a startup CDFI that's looking to make
  • And CDFI stands for Community Development Financial Institutions.
MN
MN

Minnesota 2025-2026 Regular Session

Committee on Jobs and Economic Development - 02/25/26

Jobs and Economic Development

Transcript Highlights:
  • CDFIs and philanthropic institutions. CDFIs and philanthropic institutions.
  • Um, but we'll try to get you some additional information where CDFIs can supply that information.
  • <01:33:22.159> I<01:33:22.320> don't people as it pertains to CDFI.
  • I don't people as it pertains to CDFI.
  • can can u supply information where CDFIs can can u supply that<01:33:47.920> information.
Keywords: 1187, senate, all
MN
MN

Minnesota 2025 1st Special Session

Committee on Energy, Utilities, Environment and Climate - 03/03/25

Energy, Utilities, Environment, and Climate

Transcript Highlights:
  • These could be banks, CDFIs, state agencies, cities, or philanthropic sources.
  • state agencies cities or cdfis state agencies cities or philanthropic<00:03:26.280> sources<00
  • Development Finance institutions I cdfi Development Finance institutions I cdfi so<00:17:00.800>
  • organizations Credit Unions cdfis organizations Credit Unions cdfis Community<00:21:32.360> Banks
  • The standards were sourced from other green banks, traditional banks, and CDFIs.
Keywords: 1187, senate, all
CA
CA

California 2025-2026 Regular Session

Assembly Banking and Finance Committee Apr 28th, 2025

Transcript Highlights:
  • These CDFIs make loans and expand access to capital for small businesses that are primarily Black- and
  • CCCI is the statewide alliance of CDFIs.
  • We're a CDFI, a community development financial institution, in support of AB 801.
  • does rural lending in rural communities in Central California and actually engages with some of our CDFIs
  • unions are now doing small business lending in the same space that traditional bank lenders and our CDFIs
Summary: The Assembly Banking and Finance Committee met to hear several bills, beginning with a consent calendar that included AB 665 and AB 866, both adopted on a do pass basis and referred to Appropriations. The committee then took up AB 801, which would create a California Community Reinvestment Act to require covered financial institutions, including state-chartered banks, credit unions, residential mortgage lenders, and money transmitters, to meet the financial needs of low- and moderate-income communities and communities of color. The author and supporters argued the bill would close gaps left by the federal CRA, address redlining and discriminatory lending, and expand investment in housing, small business, and community development. Support came from community groups, CDFIs, labor, and housing advocates, while opposition from mortgage bankers and credit unions argued the bill would impose costly new reporting and regulatory burdens, especially on institutions they said already serve underserved borrowers well. Committee members discussed the scope of the bill, the experience of other states with state CRA laws, and possible carve-outs or tiered treatment for smaller credit unions. AB 801 was passed as amended and referred to Appropriations, with the roll left open and later completed; one member voted no and others were not voting or voted aye as the roll was finalized. The committee also heard AB 743, which would require licensing and surety bonds for commercial lawsuit financing and bring those transactions under DFPI oversight. The author said the bill was aimed at a largely unregulated, multi-billion-dollar industry and was intended to increase transparency and address concerns about foreign interests, fraud, and abusive litigation funding practices, while not affecting consumer legal funding. Supporters, including Unified Patents, the Civil Justice Association of California, the California Chamber of Commerce, the California Trucking Association, and the American Property Casualty Insurance Association, said the bill was an important first step toward disclosure and regulation. There was no opposition testimony. AB 743 passed unanimously as amended and was referred to Appropriations, with the roll held open briefly for absent members before the committee adjourned.
US
US

US Federal 2025-2026 Regular Session

Hearings to examine managing risk for the long-term in the 7(a) loan program, focusing on hearing from lenders. Feb 26th, 2025 at 01:30 pm

Small Business and Entrepreneurship Committee

Transcript Highlights:
  • CDFI loan fund based in Springfield, Massachusetts.
  • To combat this, CDFI is like common capital. try to fill the gap.
  • Among all the CDFIs I know, the default rate hasn't changed because we're very focused on making good
  • Banks will tighten their lending as they always do, and CDFI loan funds, which are counter-cyclical,
  • I think on the continuum of credit, we need everything from community lenders that are certified CDFIs
Keywords: SBA, 7A loan program, underwriting standards, loan defaults, Community Advantage Program, small business funding, testimony
Summary: The committee meeting focused on discussions regarding the SBA's 7A loan program and its implementation challenges. Members raised significant concerns about recent changes to the underwriting standards, which have been criticized for leading to an increase in loan defaults. Ranking members expressed a desire for a return to stronger guidelines to protect taxpayers and ensure the program remains a viable source for small businesses struggling to secure funding. Testimonies from community lenders highlighted their efforts to support underserved communities and stressed the importance of the Community Advantage Program.
MN
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 3/3/26

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • And because of the lack of flexibility that's allowed at a bank or at a CDFI, Fortis can come in with
  • , at a bank or at a CDFI, at a bank or at a CDFI, foreigners<00:10:04.959> can<00:10:05.120
  • And in most cases, there's a bank financing with the CDFI, and they still need us to come in and fill
  • <00:16:01.040> And the CDFI that we're partnering with.
  • And the CDFI that we're partnering with.
Bills: HF3707, HF3732, HF2581, HF3731
Keywords: unemployment insurance, judicial officials, paid leave, economic development, worker protections, workforce development, unemployment benefits, youth training, grants, job creation, grant funding, revolving loan, underserved communities, disadvantaged groups, electrical licensing, installation, Class A installer, regulations, labor and industry, 1183
Summary: The committee first adopted the minutes from February 26 and then heard House File 2581, authored by Representative Frazier, which sought $1 million for Fortis Capital, a nonprofit economic development lender. Frazier and Fortis CEO Brian Smith described Fortis as a gap-financing lender that helps underserved entrepreneurs who cannot meet traditional bank underwriting standards. They said the organization has made 37 loans totaling more than $4 million since 2021, leveraged another $29.5 million, and created 314 jobs. Smith said Fortis typically charges around 6.5% interest, has had two defaults, and uses a revolving loan fund model that recycles repayments; members discussed how the proposal fits with other state economic development programs and whether Fortis should instead be part of a competitive grant process. The chair laid HF 2581 over for possible inclusion in a budget bill. The committee then heard House File 3707, brought by Representative Berg, which would extend confidentiality protections to unemployment insurance and paid leave judges and related staff by adding them to the definition of judges for purposes of protecting personal information. Berg and testifiers from the Department of Economic Development and MAPE said the bill responds to harassment and safety concerns, including threats, doxxing, and an attack near an office, and is intended to protect people making sensitive determinations. MAPE supported the bill as an update to existing protections for similar workers. Members raised concerns that the bill’s language was too broad, especially the reference to the paid leave division, and questioned whether it should cover only judges or also call-center and other staff. Department and committee members agreed the language likely needed narrowing and discussed possible amendments and whether to move the bill to Judiciary and then revisit it. No final vote was taken on HF 3707 during the discussion, and the bill remained under consideration for further language work.
CA
CA

California 2025-2026 Regular Session

Assembly Banking and Finance Committee Apr 28th, 2025

Banking and Finance

Transcript Highlights:
  • These CDFIs make loans and expand access to capital for small businesses that are primarily Black-and-brown
  • Community Investment (CCCI), a statewide alliance of Community Development Financial Institutions (CDFIs
  • Luz Castro with Inclusive Action for the City, we're a Community Development Financial Institution (CDFI
  • unions are now doing small business lending in the same space that traditional bank lenders and our CDFIs
Keywords: 988, house, all
MN
MN

Minnesota 2025-2026 Regular Session

Committee on Agriculture, Veterans, Broadband and Rural Development - 01/22/25

Agriculture, Veterans, Broadband, and Rural Development

Transcript Highlights:
  • Another new grant that we had is our community development financial institution, or CDFI, technical
  • in Minnesota, but we did open it up to CDFIs last summer and we received three eligible applications
  • uh to support cdfis to expand Financial<00:19:16.480> Services<00:19:17.000> to<00:19:
  • <00:19:23.840> in are only 35 33 certified cdfis in are only 35 33 certified cdfis in Minnesota
  • last summer and we received to cdfis last summer and we received three<00:19:29.600> eligible
Keywords: 1187, senate, all
US
US

US Federal 2025-2026 Regular Session

Hearings to examine housing roadblocks, focusing on paving a new way to address affordability. Mar 12th, 2025 at 09:00 am

Banking, Housing, and Urban Affairs Committee

Transcript Highlights:
  • I know CDFI tax credit, and I'm going to come to that with Ms. Willis in a moment.
  • first 10 years, and I think that the rank members already mentioned this, some I've been doing on CDFIs
  • So CDFIs are important.
  • And with, through the Capital Magnet Fund, CDFIs were, they financed over 83,000 affordable homes.
  • So it's extremely important, the role that CDFIs. play. and good intentions lowered housing costs.
Keywords: affordable housing, government investment, barriers, legislative solutions, public testimony
Summary: The committee meeting focused on addressing the significant issue of affordable housing in America. Members expressed concern over the persistent barriers faced in the housing sector, despite substantial government investment aimed at alleviating these issues. It was highlighted that government interference plays a critical role in complicating the housing landscape, and discussions revolved around potential legislative approaches to mitigate these challenges. Several witnesses provided testimony, contributing to a thorough exploration of the topic.