CDFI Friendly South BendCDFI Friendly
CDFI Friendly South Bend
Many small business owners, affordable housing developers, homeowners, and nonprofits have historically found it difficult to directly access the conventional financing necessary to grow their businesses. For them, community development financial institutions (CDFIs) can be a valuable resource, providing a range of options for obtaining funding.
CDFI Friendly South Bend (CFSB) began operations in early 2020 as the operating entity for a community-developed strategy to increase CDFI financing. By connecting borrowers with their referral pipeline of local financial institutions, entrepreneurial support programs, grant providers, and the city, the CFSB was confident that they were well-positioned to generate significant economic development activity. Early results were positive, with 9 referred businesses in various stages of underwriting in the first two months of the pilot.
The Foundation agreed to provide both the initial manual grant, as well as a later matching grant, to complete construction of the full size turf field, nine lane track, bleachers and adjacent concession stands and team rooms. Leighton Stadium opened in 2012.