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Shifting ground: Can community development loan funds continue to serve the neediest borrowers?

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  • Julia Sass Rubin

Abstract

Community development financial institutions (CDFIs) are designed to improve economic conditions for low-income individuals and communities by providing a range of financial products and services that often are not available from mainstream lenders and financiers. ; Part I of this paper reviews CDLF origins, structures, and current activities. Part II discusses the field?s historic sources of subsidized capital and why they have shrunk. Part III reviews potential new sources of capital and the organizational ways that CDLFs are responding to their changed environment. The paper concludes with recommendations for CDLFs, funders, and policy makers.

Suggested Citation

  • Julia Sass Rubin, 2009. "Shifting ground: Can community development loan funds continue to serve the neediest borrowers?," Community Development Working Paper 2009-01, Federal Reserve Bank of San Francisco.
    • Handle: RePEc:fip:fedfcw:2009-01
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    References listed on IDEAS

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    1. Julia Sass Rubin & Gregory M. Stankiewicz, 2005. "The new markets tax credit program: a midcourse assessment," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 1, pages 1-11.
    2. Benson F. Roberts, 2005. "The political history of and prospects for reauthorizing new markets," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 1, pages 21-32.
    3. Kristin Kanders, 2002. "Social investors: new patrons of community development," Communities and Banking, Federal Reserve Bank of Boston, issue Sum, pages 8-13.
    4. Lauren Lambie-Hanson, 2008. "Addressing the prevalence of real estate investments in the new markets tax credit program," Community Development Working Paper 2008-04, Federal Reserve Bank of San Francisco.
    5. Bostic Raphael & Paulson Anna L & Mehran Hamid & Saidenberg Marc, 2005. "Regulatory Incentives and Consolidation: The Case of Commercial Bank Mergers and the Community Reinvestment Act," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 5(1), pages 1-27, April.
    6. Robert B. Avery & Raphael W. Bostic & Glenn B. Canner, 2000. "The performance and profitability of CRA-related lending," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov.
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    Keywords

    Community development; Loans;

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