First Southwest Community Fund Earns CDFI Certification, Expanding Access to Capital for Rural Colorado Entrepreneurs
Federal designation strengthens organization's ability to deliver character-based lending across underserved rural communities
Alamosa, Colo. — First Southwest Community Fund (FSWCF) announced it has been certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury's CDFI Fund. The certification recognizes FSWCF's mission to expand access to capital for small businesses and entrepreneurs in rural, underserved communities across Colorado.
CDFI certification is a designation granted to organizations that provide financial products and services in economically distressed communities. It positions FSWCF to pursue expanded federal funding, deepen partnerships with banks and other financial institutions, and grow its lending capacity for the rural entrepreneurs it serves.
"This certification is a milestone years in the making, and it changes what we can offer the entrepreneurs who rely on us," said Rosy McDonough, Executive Director of First Southwest Community Fund. "We lend based on character, not just credit scores, CDFI certification gives us more capital and more tools to keep doing that for small business owners in the rural communities that need it most."
The certification comes as FSWCF continues to modernize its lending operations, having implemented new loan origination and customer service platforms in 2024. CDFI status positions FSWCF for continued growth in the communities and counties it serves throughout rural Colorado.
FSWCF plans to use its new certification to pursue additional CDFI Fund resources, expand its lending products, and continue offering bilingual, accessible financial education and technical assistance to entrepreneurs across the state.