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- By Tribal Business News Staff
- Finance
California is home to 109 federally recognized tribes and one of the largest community development finance systems in the country. Yet despite that scale, only three Native Community Development Financial Institutions (CDFIs) currently operate in the state.
In Episode 7 of Difference Makers 3.0, host Brian Edwards reports from the California CDFI Summit in Sacramento, where Native CDFI leaders, lenders, philanthropy, state agencies and community development finance organizations gathered to discuss the future of Native-led access to capital in California.
The episode explores a simple but important question posed by Native CDFI Network CEO Pete Upton: “Why are there only three Native CDFIs in California?”
The episode features conversations with California Coalition for Community Investment (CalCCI) leader Nate Schaffran, Teresa Boardman of Five Rivers Loan Fund and other leaders working to expand Native-led access to capital across the state. Together, they discuss the opportunities and challenges facing Native CDFIs in California and what it will take to grow their impact.
Here are a few highlights from the episode:
On the challenge facing California:
“Why are there only three Native CDFIs in the state of California? The populations here, the need is here and the opportunity is here. And yet we only have three Native CDFIs in the state of California.” — Pete Upton, Native CDFI Network
On what it takes to grow Native CDFIs:
“It takes an ecosystem. It takes funders, it takes partners, and it takes tribes.” — Jodi Fischer, Native CDFI Network
On the role of philanthropy:
“To grow the number and reach of Native-led CDFIs in California, it's really going to take more investment and work from philanthropy.” — Jessica Kaczmarek, The James Irvine Foundation
On the work Native CDFIs do every day:
“Everything's an emergency. I want to move out of this crisis into wealth building.” — Teresa Boardman, Five Rivers Loan Fund
On the path forward:
The challenge, Schaffran says, is twofold: strengthening the Native CDFIs that already exist while creating opportunities for new Native CDFIs to emerge and serve communities that remain underserved today.
Visit Difference Makers 3.0 to listen to the full episode and subscribe on your favorite podcast platform.
