Native CDFIs help Native American communities overcome systemic barriers to entrepreneurial success, such as a lack of physical, legal, and telecommunications infrastructure, access to affordable financial products and services, and limited workforce development strategies. The majority of Native communities, 86 percent, lack a single financial institution within their borders to access affordable financial products and services.

 

Over the last decade, Native CDFIs have proven themselves key in developing healthy, vibrant Native economies and communities. Entering markets normally considered “high-risk,” they help place communities on a path to success – creating businesses, jobs, homeowners, and serving as the catalyst for developing local economies. Their unique programs and services are designed to build financial assets in the low-income populations they serve and provide access to economic opportunities.

 

Plenty Doors is an emerging CDFI. We anticipate becoming a certified CDFI by December 2024. Certification ensures we have met the requirements of the U.S. Department of Treasury for CDFIs. It also opens the door for greater federal funding.