Building Wealth, Opportunity & Ownership Through Community Investment
- Office of Community & Economic Development
- 2 days ago
- 2 min read
Community and economic development is ultimately about creating neighborhoods where people are not simply surviving, but truly thriving. Across Greater Philadelphia and South Jersey, many historically underserved communities continue facing barriers connected to generational wealth gaps, underinvestment, limited business access, housing instability, banking inequities, and lack of access to affordable capital.
For many entrepreneurs and small business owners, one of the greatest barriers to growth is not lack of vision or talent. It is lack of access to funding. Traditional financial institutions have historically underserved Black, Brown, immigrant, and low-to-moderate income communities, making it significantly more difficult for many entrepreneurs to secure affordable loans, build business credit, purchase commercial property, or invest back into their neighborhoods.
That is why Community Development Financial Institutions, also known as CDFIs, play such a critical role in economic mobility. A CDFI is a mission-driven financial institution specifically focused on expanding access to responsible and affordable financing in communities that have historically been excluded from traditional lending opportunities.
Unlike many traditional lenders, CDFIs are designed to prioritize community impact alongside financial growth. They help entrepreneurs, homeowners, nonprofit organizations, and community developers access the resources needed to build long-term stability and generational wealth.
Available funding opportunities through CDFI partnerships can help small business owners with:
Business Loans to support Growth
Strong local businesses create jobs, strengthen neighborhoods, preserve culture, and reinvest resources back into the community. Economic mobility is deeply connected to emotional wellness and long-term community health. When families have access to stable income, ownership opportunities, safe neighborhoods, and pathways toward financial growth, communities become healthier, safer, and more resilient.
Community Economic Development Resources
Urban League of Greater Philadelphia CDFI: https://www.ulpcif.org
SupplyPHL: https://www.supplyphl.com
PIDC Philadelphia Business Lending — https://pidcphila.com
Finanta CDFI Lending Programs — https://finanta.org
Entrepreneur Works Fund — https://myentrepreneurworks.org
The Enterprise Center — https://theenterprisecenter.com
New Jersey Economic Development Authority — https://njeda.gov
Women’s Business Development Center — https://womensbdc.org
Community First Fund CDFI — https://communityfirstfund.org
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Momentum Newsletter: May 2026 | Issue 5
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