Washington, DC – U.S. Representative Charlie Crist (D-St. Petersburg) released a statement on H.R. 3351, the Financial Services and General Government Appropriations Bill for fiscal year 2020, which includes a record $300 million for the Community Development Financial Institutions (CDFI) Fund. CDFIs provide critical credit and financial services to underserved communities across the country, giving them access to the funding necessary to start a small business, buy or keep safe housing, and further the development of their communities. The bill passed on a 224-196 vote, saving this important program which the President’s budget zeroed out.

“Small businesses keep our communities vibrant, unique, and thriving – and access to capital is their lifeblood. But for many small businesses, the door to traditional lenders is closed. That’s where Community Development Financial Institutions come in, providing affordable lending to job creators and communities’ struggling to grow.

“The CDFI Fund has a proven track record, increasing access to capital in underserved communities for housing, restaurants, domestic violence shelters, and grocery stores in food deserts. They’ve been vital to lower income neighborhoods across Pinellas County and the state of Florida. As a member of the Appropriations Committee, I was proud that our push for $300 million for Community Development Financial Institutions Fund was successful.”