Community Reinvestment Fund, USA Endorses Bipartisan House Resolution Supporting Small Business Financing Rights

MINNEAPOLIS —May 09, 2019 — Community Reinvestment Fund, USA (CRF) enthusiastically endorses the Small Business Borrowers’ Bill of Rights Resolution introduced in the House of Representatives earlier today in recognition of National Small Business Week. CRF is particularly proud that Congressman Dean Phillips, representing Minnesota’s Third Congressional District, was a leading force in introducing this powerful bipartisan resolution expressing the U.S. House of Representatives’ support for the rights of small business owners to access responsible and affordable capital.

CRF is a mission-driven non-profit lender dedicated to improving communities and transforming lives through innovative financing solutions for small business borrowers. Together with its partners – including community leaders, financial institutions, foundations and more – CRF is creating new strategies and technologies that build stronger local economies, create jobs and support economic mobility.

For people living and working in communities with economic challenges, financial independence and economic mobility are at a premium. CRF is committed to increasing the flow of capital to historically underinvested communities across the country by bringing fairness to finance and elevating opportunity for all.

“Here in Minnesota and across the country, small businesses are the economic backbone of our communities,” said Frank Altman, co-founder and CEO of CRF. For more than 30 years, CRF has worked to see that small businesses have the money they need to grow, build assets, generate local tax revenue, and create and sustain jobs. As an original signatory of the Small Business Borrowers Bill of Rights, we are committed to practicing and promoting responsible lending and to combatting the abusive practices that threaten the vitality of too many small businesses. I applaud Dean Phillips for his leadership in promoting fairness in small business finance with the introduction this resolution calling on Congress to protect the rights of small business owners as we celebrate National Small Business Week.”

Adoption of the Small Business Borrowers’ Bill of Rights Resolution by the House of Representatives is an important step towards ensuring that small business borrowers can access the financing they need to thrive. CRF looks forward to working with other responsible lenders signed onto the Small Business Borrowers Bill of Rights and Congressional leaders to ensure that the needs of small business borrowers are kept at the center of the lending process.

About Community Reinvestment Fund, USA (CRF)

Founded in 1988, Community Reinvestment Fund, USA (CRF) is a national non-profit organization with a mission to empower people to improve their lives and strengthen their communities through developing innovative financial solutions. A leading Community Development Financial Institution (CDFI), CRF supports other mission-driven organizations, increases economic mobility, and builds strong local economies through the development of solutions aimed at creating an equitable financial system. CRF has injected more than $2.4 billion to stimulate job creation and economic development and support community facilities. For more information, visit www.crfusa.com .

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