While the federal government does not provide grants for starting or growing small businesses, it does provide a myriad of services to assist entrepreneurs in pursuit of their dreams. One of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury. In the current fiscal year the federal government is allocating more than $12 Million to support CDFIs.
Community Development Financial Institutions fall into four categories:
The genesis of the Community Development Financial Institution Fund was the Riegle Community Development and Regulatory Improvement Act of 1994. The reason for the fund's existence is to foster economic revitalization and community development.
There are many U.S. government grants that are available today. American citizens are not just aware or familiar with it because there is not advertisement about it. This is probably because there are no funds allocated for such announcements....
Community Development Financial Institutions are basically financial institutions who possess the ability to provide credit and financial services to underserved industries and communities.
Founder and chief shoe giver of TOMS Shoes, Blake Mycoskie, is set to come to the campus of DePauw University to talk about his unique approach to business and creating a better world.