Serving the Community Since 1993
RISE (Reach. Invest. Succeed. Earn.) Financial Pathways, formerly known as Community Financial Resource Center (CFRC) is a non-profit Community Development Financial Institution (CDFI) offering comprehensive and innovative ways to build wealth for historically underserved residents and small business owners in South L.A. and across L.A. County. The organization provides commercial lending opportunities- including microloans, peer lending, and small business loans – along with business training, asset development programs, and banking programs. CFRC has served nearly 100,000 low-income clients since its inception in 1992. Its programs have resulted in nearly $14 million in economic activity and the retention and creation of thousands of jobs. The transformative power of CFRC’s services – combined with its clients’ enterprise and hard work – improves the financial standing of individuals, launches and sustains small businesses, and generates economic activity that strengthens entire neighborhoods.
RISE opened its doors to the community in March 1993 as Los Angeles’ first public-private partnership. It was designed as a collaborative effort of 34 local banks, the City of Los Angeles, and community leaders, to respond to the dismal community reinvestment activity in South Central Los Angeles. Following nearly two years of community hearings and planning, RISE was incorporated to meet the economic development challenges and capacity building needs of Los Angeles’ low-income neighborhoods.
To date, RISE and its service providers directly influenced economic development in Los Angeles County by assisting nearly100,000 residents and contributing over $14 million to the local economy through its fundraising, lending, and program development efforts. RISE’s economic impact is reflected in the 3,421 jobs created/retained through RISE programs, which results in approximately $119,735,000* invested back into the community.
*Figure based on the U.S. Housing & Urban Development’s formula – $35,000 investment/jobs created.