Faith, Hope and Capital is a film that introduces the work
of Community Development Financial Institutions by telling the
stories of people around the country who have received loans from
a complete Transcript of the
Synopsis of the show
The program opens with a look at the Cascadia Revolving
Fund in Seattle, Washington. One of their borrowers,
Jack Billman, is a logger who started a timber-thinning business
when a large lumber company laid him off. With technical assistance
from Cascadia, he and his wife, Marcia, are still in business, in
spite of some tough times. Another Cascadia borrower, Sandy
Ledray of Brookside Soap, was laughed at by commercial banks
when she tried to get a loan for a wrapping machine. With the help
of a loan from Cascadia, she got the equipment she needed and now
provides jobs for a number of people.
Eddie Ayers founded a credit
union back in the 1960s when black people, working to get the right
to vote, were cut off by local banks. Now, in addition to making
loans for everyday necessities like car repairs, the credit union
helps establish local businesses such as a black-owned radio station.
When African-Americans started moving into the neighborhood in the
early 1970s, the original owners of Chicago's South Shore Bank tried
to leave the area. A united community forced the bank to sell to
a new group of owners. The new owners used the lending power of
the bank to help local property owners like Dale
Braithwaite. By maintaining and rehabilitating housing, the
bank and people like Dale have helped keep South Shore a healthy
community during a time when adjacent communities have lost banking
services and suffered serious deterioration.
The Reinvestment Fund helps revitalize some of the most distressed
neighborhoods in the city. By lending to community organizations
and companies like Home Care Associates,
the Fund has developed low income housing and provided training
and employment for people coming off welfare.
Coastal Enterprises helped Lendall Alexander continue to support
his family by fishing when federal regulations cut the traditional
fishing season in half. Coastal Enterprises lent Alexander the
money to buy the type of boat and gear he needed to get into a
new kind of fishing.
Hope and Capital tells many success stories, but the job is
just beginning. Although CDFIs have demonstrated winning strategies,
they need to grow much larger to meet the challenge of extending
America's prosperity to everyone.