Milestone Investment Fund
A Non-Profit Community Development Financial Institution
What Is a Community Development Financial Institution?
A Community Development Financial Institution (CDFI) is a mission-driven financial institution that provides financial products and services to underserved communities and individuals, aiming to foster economic opportunity and revitalization.
The CDFI Founder is a Community Reinvestment Act CRA Subject Matter Expert with over 20 plus years experience serving the community through alleviating the barriers of small businesses, entrepreneurs, nonprofits and for profit developers utilizing partnerships with investors and financial institutions who sponsor lunch & learn, classes, & networking to empower & educate.
Funding Offered
Texas Consumer Lending
Providing consumers with $1K - $5K micro-loans to establish credit, remove barriers to home ownership or start their entrepreneurial journey.
Texas Contractors Loans
Creating $5,000-$50,000 in funding for certified contractors to purchase materials, expand their business, pay expenses or for working capital.
Texas Development Funding
Sustaining the community development of certified-led nonprofit and for-profit entities building affordable housing for LMI families.
Community Reinvestment Act of 1977
The Community Reinvestment Act of 1977 (CRA) directs agencies (FDIC, OCC, the Board of Governors of the Federal Reserve System) to encourage insured depository institutions to help meet the credit needs of the communities in which they are chartered. The MI Fund partners with local banks to meet their CRA goals in the communities without bank representation to bridge the gaps for bankers as well as the community.
What CRA Does
The CRA’s primary goal is to combat redlining and promote equitable access to credit and financial services, ensuring that banks don’t discriminate against certain neighborhoods or demographics.
Education Provided
Financial Credit Literacy
Each consumer that participates in the CRA Lending Programs of The Milestone Investment Fund complete online and in-person education & financial coaching.
Money Smart for Consumers
The FDIC Money Smart financial education program can help people of all ages enhance their financial skills and create positive banking relationships.
Money Smart For Business
Money Smart for Small Business (MSSB) provides an introduction to topics related to starting and managing a business. MSSB was developed jointly by the FDIC & SBA.
ABC's of Business
Become a “Bankable Entrepreneur” through the ABC’s of business by learning the underwriting guidelines of partnered CRA Banks as well as everything you need to be funded.