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Here’s what you should learn about CDFIs as well as other second-chance loan providers

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Brenda Woods did want to move n’t and then leave the yard she had tended for 40 years. Nevertheless the roof was falling in. And her bank would give her and n’t her spouse Larry that loan to get an upgraded house.

Brenda’s nevertheless tending her garden, however, because of a second-chance loan through the brand New Hampshire Community Loan Fund-a Community developing standard bank (CDFI). It let the Woods exchange their house having a brand new, safe, affordable, energy-efficient home that is manufactured.

Nearly 700 families financed houses through the grouped Community Loan Fund, which won a $5.5 million prize through the Wells Fargo WFC, +2.12% NEXT Awards for Opportunity Finance.