WASHINGTON – Today, Senator Jim Justice released a statement urging the White House to immediately release $324 million in funds for the Community Development Financial Institutions Fund (CDFI):
“In West Virginia, our small businesses and community lenders are ready to put these funds to work. These funds have been approved for months, and every day they sit unused is a missed opportunity for communities that need them most. It’s time to cut the red tape and get this money out the door to support small businesses, create jobs, and strengthen our local economies,” said Senator Jim Justice.
BACKGROUND:
- Senator Justice joined Senators Mike Crapo (R-ID), Mark Warner (D-VA) in a letter urging the Office of Management and Budget to release CDFI funds. Read the original letter here.
- The $324 million supports community lenders that provide capital where traditional banks often don’t operate.
- This CDFI Fund has a long track record of turning federal dollars into billions in private investment for small businesses, affordable housing, and economic development.
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