Sec. 102. Findings
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The Congress finds the following: Families and small businesses in under-served areas have for generations been unable to access affordable credit. The financial crisis of 2008 only served to exacerbate efforts by entrepreneurs to access capital for the purpose of creating jobs and improving economic outcomes in the community. Small business investments revitalize communities by creating jobs but also contributing to the local tax base, which helps finance investments in schools, hospitals, infrastructure, and public safety.
The Community Development Financial Institutions Fund is well placed to make careful, targeted investments in community development financial institutions for the purposes of improving economic outcomes for underserved families across America. Providing the Community Development Financial Institutions Fund with a robust capital infusion will make efficient use of taxpayer dollars, by leveraging Federal investment for the purpose of small business lending.