Commercial Real Estate
Working With CDFIs to Support Low-Income Communities
Michael Rhodes of Community Development Banking spoke to Commercial Observer about the vital work his team does with community development financial institutions nationwide.
Community development financial institutions (CDFIs) inject much-needed capital into low- and moderate-income communities. The support they provide could be even more needed in a post-pandemic economic recovery.
Michael Rhodes, an Intermediaries Lending banker with JPMorgan Chase Community Development Banking, spoke with Commercial Observer about serving CDFI clients as part of the firm’s focus on sustainable community lending and investment. Rhodes also discussed:
- The $2 billion in financing his team has committed to CDFIs to support affordable housing, small business loans and other community services
- How JPMorgan Chase plans to expand its work with CDFIs as part of a larger $30 billion initiative to increase economic opportunity in Black and Latinx communities
- Creative ways CDFIs stepped up to help communities in need during the pandemic