WASHINGTON, D.C. – U.S. Senators Shelley Moore Capito (R-W.Va.) and Joe Manchin (D-W.Va.), members of the Senate Appropriations Committee, today announced $1,499,000 for Community Development Financial Institutions (CDFI) in West Virginia. The funding provided through the U.S Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will enable CDFIs to increase lending and investment activity in economically distressed communities across West Virginia.
“Access to investments and financial capital is essential for fostering growth in our state,” Senator Capito said. “Treasury Department-sponsored Community Development Financial Institutions bring those resources into West Virginia and put them to work supporting communities and small businesses. I have championed the potential and benefits of CDFIs throughout my tenure in the Senate, and I am pleased they are recognizing opportunities in West Virginia.”
“Strategic financial decisions boost economic and community development and improve the prosperity of our families, businesses and communities,” Senator Manchin said. “I am pleased that West Virginians will get the financial support they need, whether that is for affordable housing, critical loans to get small businesses off the ground, or to develop and carry out sound economic plans. As a member of the Financial Services Appropriations Subcommittee in the Senate, which oversees funding for the CDFI fund each year, I will continue to fight for funding that boosts economic development in West Virginia.”
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