The Citi Foundation and Community Development Finance Association awards recently recognised several organisations finding innovative ways to finance the communities that need it most.
Pat Conaty received an individual award for working to improve access to finance and support the community development finance sector. On the right is Shamima Begum, the other individual award winner.
Pat first brought the CDFI concept to the UK from his native United States. He set up several CDFIs, such as the Aston Reinvestment Trust in Birmingham, and innovated the products, forms and funding that CDFIs use. ART’s loan support has now created or safeguarded 5000 jobs and over 650 loans have been delivered since 1997.
Hundreds of thousands of people have been enabled to access fair and affordable finance in the UK through CDFIs, which also helped to create over 8,000 businesses in 2013 and almost 12,000 new jobs, delivering Start Up Loans, New Enterprise Allowance and Regional Growth Fund programmes.
To read more about the work of CDFA and the awards go to http://www.cdfa.org.uk/2013/10/09/time-to-celebrate-finance-heroes-in-the-uk/