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The U.S. Department of the Treasury’s Community Development Financial Institution Fund (CDFI Fund) has certified UPI LOAN FUND as a CDFI.
A Community Development Financial Institution (CDFI) is an establishment that provides credit and financial services to underserved markets and populations. Since 1973, the community of certified CDFIs, have worked for social, economic and racial justice through financial support. Across the nation the CDFI industry manages more than $222 billion lifting underserved communities.
Since 2020 UPI Loan Fund has provided low-to no interest loans to low/moderate income communities, especially communities of color. For most low or moderate income, unbanked, and under-banked individuals, the lack of access to capital prevents them from taking advantage of viable opportunities that could make a positive impact in their lives and the lives of their children. Sixty percent (60%) of UPI Loan Fund’s overall loan portfolio is earmarked for Blacks while forty percent (40%) is appropriated for others.
As a CDFI, UPI Loan Fund expands its reach (nation-wide) helping even more individuals, families and businesses. Being a CDFI gives UPI Loan Fund access to additional CDFI government funding towards operations and lending purposes along with a network of resources to support long-term growth and development. It has always been the UPI Loan Fund’s plan to become a CDFI and bring on-board lenders, donors, investors and grantors with a shared interest in helping underserved communities. With CDFI status we are poised to make a quantum leap towards our strategic short and long-term goals.
Our unique approach to deal making has delivered exceptional results. By prioritizing the interest of all parties involved, we foster an environment that encourages collaboration and transparency. This focus on cooperation has allowed us to bring together government and private sectors, leading to faster and more efficient processes and partnerships. Over the years, we have successfully served the financial needs of communities from Connecticut to California.
Exceeding all expectations. Our proven track record having the ability to replicate has solidified UPI Loan Fund as a trusted partner in the financial market arena.
Our Guiding Principles
Cumulative CDF Impact
13,697 Community Facilities
696,043 Business and Microenterprises
2.65 million Jobs Created or Maintained
2.31 million Housing Units
CDFIs serve Black, Latino, Native, and rural communities, and other areas of persistent poverty.
CDFIs make $1 do the work of $8. CDFIs leverage $8 in private sector investment for every $1 in public funding.
As borrowers repay their loans, CDFIs recycle the money back into the community via new borrowers.
Frank E. Crump
fcrump@upiloanfund.us
310-597-8727
Kerwin V. Brown
kerwin@upiedu.org
602-558-3484
Sources: OFN Annual Member Survey, FY 2020, Janet Yellen, U.S. Secretary of the Treasury, https://www.ofn.org/cdfi-impact/, https://www.cdfifund.gov/programs-training/certification/cdfi
