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CDFIs — which exist in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands — offer loan money in times of disaster to businesses that typically can’t get funding from banks. CDFIs focus on serving the needs of the poor and working-class in urban and rural communities and are typically controlled locally.
A Word on Geography In this age of digital account opening, national marketing, and digital-only banks, geography matters less than it did five years ago. Some areas, like Guam, have a high average rate but a low top rate. At some point, deposit pricing management becomes exceedingly difficult as you become solely dependent on rate.
During National Small Business Week , as we celebrate the 28 million small businesses that drive our nation’s economy, we also showcase the resources and services the SBA provides to entrepreneurs at every stage, whether they are starting up, expanding or getting through a tough time. Virgin Islands, and Guam.
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