Community development finance institutions ('CDFIs') are financial intermediaries that provide funds to certain businesses and social and community enterprises in disadvantaged areas. CDFIs may take a number of forms, including social banks and community loan funds, but they must be accredited in order for any relief under the CITR scheme to be available.
Application and criteria for accreditation
The legislation provides that applications for accreditation as a CDFI must be made to the Secretary of State for the Department for Business and Trade (DBT)1 in the required form and manner2.
Full details on how to apply for accreditation are available in CITM2010.
In outline, for the CDFI to be accredited, its principal objective must be to provide (directly or indirectly) finance, or finance and access to business advice, for enterprises for disadvantaged communities3. Enterprises for disadvantaged communities include enterprises located in disadvantaged areas, and enterprises owned, or operated by, or designed to serve, members of disadvantaged groups4.
The CDFI must also satisfy criteria specified in Part 2 of the document
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Web page updated on 17 Mar 2025 13:35