CHARLESTON, S.C. (WCSC) – A group of African American financial leaders that provides lending services to underserved communities is meeting in Charleston this week.

Hundreds of people are gathering as the African American Alliance of Community Development Financial Institutions CEOs host their annual conference in the Holy City.

They provide credit, capital and other services that may not be available from mainstream banks to low-income people and economically distressed communities.

“Simply put, CDFIs are what I call gap fillers,” Alliance CEO Lenwood V. Long, Sr said. “They provide a variety of financial products to underserved communities. Small business loans, affordable housing, commercial real estate.”

South Carolina is home to several of these types of institutions. They include the Community Loan Fund and the Charleston Redevelopment Corporation, both located in Charleston.

“We see it as we drive through communities, and we see the change. No sidewalks, and the other things that we see, dilapidated housing. CDFIs help restore, revitalize and rejuvenate communities,” Long said.

This gathering of the annual conference to Advance Black Economic Justice runs through Thursday.

Marc Morial, the president of the National Urban League, will address the conference on Wednesday.

Former South Carolina state representative and political commentator Bakari Sellers will close out the event on Thursday.

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