Public Policy Associates (PPA) this month presented findings from its comprehensive research on Community Development Financial Institutions (CDFIs) in Michigan at the 2nd Annual CDFI Research Symposium. The event was jointly hosted by the CDFI Research Consortium, housed within the Center for Impact Finance at the Carsey School of Public Policy, and the Opportunity Finance Network (OFN).
The PPA team, led by Dr. Daniel Quinn, along with Robb Burroughs and Maddie Thomas, shared the results of their study, A Study to Examine Michigan’s CDFI Landscape. The research provides a deep, qualitatively driven analysis of how CDFIs, mission-driven financial institutions, can impact economic mobility and community development across Michigan, particularly in underserved urban and rural areas.
The study explores the current capacity, impact, and policy needs of Michigan’s CDFIs, which are critical sources of capital for small businesses, affordable housing, and other facilities often overlooked by conventional lenders. The findings offer actionable insights for state policymakers, philanthropy, and the CDFI sector itself to strategically strengthen investments throughout the state.
“CDFIs are essential for inclusive economic growth, and our research provides a roadmap to maximize their continued impact in Michigan,” said Dr. Daniel Quinn. “It was an honor to share our team’s findings with top researchers and practitioners from across the country. The discussion affirmed that the challenges and opportunities facing Michigan are critical to the national conversation on community-focused finance.”
The 2nd Annual CDFI Research Symposium serves as a convening point for academics, practitioners, and policymakers dedicated to advancing research that informs effective policy and investment strategies within the community finance sector. PPA’s presentation was one of the few that focused explicitly on a single state’s ecosystem, highlighting the national significance of Michigan’s approach to leveraging community finance.