Dennis Matthews’ life is unrecognizable since he enrolled in the IDA program. In 1999, Dennis was $10,000 in debt, had lost his job and had taken a new job with a 45% salary reduction. “I was in so much trouble,” he says. “The cost of living was so high.”

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A growing gap exists between the financial services available to the economic mainstream and those offered to low-income people and communities. Development financial institutions help bridge that gap by bringing capital and financial services to these underserved people and communities, affording them access to capital to start and expand businesses, build and purchase homes and develop needed community facilities.

CFED, through the Local Capital Markets Investment Fund (LCMIF), serves the development finance industry by providing research and funding towards the development, testing, and evaluation of products and services that expand the financial resources, strengthen the portfolio performance, and enhance the impact of these institutions.

CFED is committed to sharing the findings of its investments broadly among practitioners and other financial institutions that provide access to capital in low-income communities. CFED seeks returns through joint ownership of its LCMIF investments rather than a direct financial repayment.

For more information about the LCMIF, please contact Michael Torrens.