CDFI Crisis Fund Act

The CDFI Crisis Fund Act (S. 4165) would establish a permanent national fund to provide emergency financial assistance to small businesses and low-income communities during major economic or natural disasters. This fund would automatically activate during specific triggers, such as a significant spike in unemployment rates or a formal emergency declaration, allowing Community Development Financial Institutions (CDFIs) to quickly distribute grants and financial products to those in need. For everyday citizens, the bill aims to ensure that local businesses and underserved populations have faster access to relief funds during crises, with specific portions of the funding reserved for Native and minority-led financial institutions.