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Support for Community Development Finance Institutions

Phoenix Fund support Community Development Finance Institutions

The Phoenix Fund closed as of 31 March 2006. The Fund is fully allocated to existing projects. No new applications are being taken.

Community Development Finance Institutions (CDFIs) operate, for the most part, in deprived areas and make loans to both start-ups and existing businesses/social enterprises that are unable to access loans from mainstream sources such as banks.  Additionally, CDFIs often have a strong link to a disadvantaged community.

The Phoenix Fund held bidding rounds between 2000 and 2003, with the final successful applicants being announced in spring 2004. As a result the Phoenix Fund supports over 60 CDFIs, providing them with support in excess of £42 million.