The percent of loans given by the CDFI that were not paid back in the last three decades is b. 5 %
What are loans by the CDFI?
The Community Development Financial Institutions Fund (CDFI Fund) is a U.S. Department of the Treasury bureau that provides financial assistance to community development financial institutions (CDFIs).
The default rate on loans made by CDFIs was 4.2% as of September 30, 2022. This means that about 5% of all loans that CDFIs made in the last three decades were not paid back in full.
CDFIs play an important role in providing financial services to underserved communities. CDFI loans can help businesses create jobs, homeowners buy homes, and students pay for college.