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community development banks

Community Development Banks (CDBs) are financial institutions focused on providing banking services to underserved communities, often including low-income individuals and small businesses. Unlike traditional banks, CDBs prioritize community investment over profit, offering loans and financial services to foster economic growth and stability in these areas. They aim to strengthen local economies by supporting affordable housing, education, and small business development. CDBs play a crucial role in promoting financial inclusion, ensuring that all community members have access to the resources they need to succeed.

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    Community Development Banks (CDBs) are financial institutions that focus on providing services and loans to underserved communities. Their primary goal is to promote economic development and improve access to capital for individuals and small businesses that may not qualify for traditional bank loans. By investing in housing, education, and local businesses, CDBs aim to foster growth and create jobs within their communities. They often support initiatives that address issues like poverty and inequality, making financial resources more accessible and promoting sustainable development.