Celebrating 10 Years as a CDFI Bank

First Southwest Bank's Community Impact and Financial Inclusion in Colorado
11/22/24
 
This year marks a decade since First Southwest Bank became a Community Development Financial Institution (CDFI) bank—a milestone we’re honored to celebrate as we look back on the impact we’ve made across the state.
 
Thirty years ago, former President Bill Clinton signed the Riegle Community Development Act of 1994, which established the CDFI Fund to support economic development in underserved communities. Since its inception, the CDFI Fund has awarded more than $7 billion to CDFIs and mission-driven lenders across the U.S.
 
First Southwest Bank is proud to be one of only two CDFI banks in Colorado, guided by a mission to invest in communities often overlooked by traditional lenders. As a CDFI bank, we’re required to direct at least 60% of our financing activities toward low- and moderate-income populations or underserved communities. This commitment has enabled us to fuel economic growth through accessible financial products like microloans, small business loans, agricultural loans and flexible financing options that empower local entrepreneurs and community initiatives.
 
Our mission as a CDFI bank is deeply rooted in addressing and investing in the needs and priorities of our communities. We take pride in empowering entrepreneurs, supporting small businesses, and building partnerships that foster growth and financial inclusion for everyone.

Our CDFI Impact

10 Years of Supporting The Social and Economic Landscape of Rural Colorado

Throughout our 10 years as a CDFI, we have been dedicated to improving quality of life in our communities and providing financial resources to those who need them most. Our CDFI Initiatives focus on:

  • Microloans and Small Business Loans: From aspiring entrepreneurs launching their first businesses to established local businesses expanding their reach, we are proud to invest in these businesses that result in new jobs, which lead to economic growth in our rural communities.
  • Affordable Housing Support: Addressing the need for affordable housing, we provide financing options to help families and individuals secure stable housing in their communities.
  • Community Partnerships and Collaborations: Combining public, private and philanthropic resources allows us to amplify our impact when investing in community needs and priorities. Our goal is to ensure we’re serving our communities in meaningful ways, from expanding access to healthcare to supporting local events and educational programs.
  • Agricultural Lending: Our unique programs and partnerships with entities such as the USDA, FSA, Colorado Department of Agriculture enable us to support farmers and ranchers in our state by ensuring we have access to diverse financing options tailored to the specific needs of our agricultural customers.

Our journey over the past decade is just the beginning. We remain committed to fueling economic growth, building stronger communities, and creating opportunities for underserved populations across our state. As we look to the future, we thank our partners, customers, and community members who’ve shared in our mission, and we celebrate all that we have accomplished in 10 years serving Colorado as a CDFI bank.

To learn more about our CDFI initiatives and how we’re supporting local communities, reach out to us directly. We look forward to another decade—and beyond—of making a positive difference in the lives of our neighbors and community members across Colorado.