While most of the CDFI fund appears to be protected by Congress, Hinkle Brown said he’s concerned that the rules won’t apply.

“It’s unclear what overzealous implementation in this regard would look like,” he said. “If they eviscerate and make non-functional the CDFI fund there’s a lot of costs, the Philly region will suffer.”

It could put a dent in regional economic development efforts in low income communities, said Leslie Benoliel, CEO of Entrepreneur Works in Philadelphia.

“[Community Development Financial Institutions] are like the capillaries of the financial distribution system in our country. And if you cut off the blood flow to those extremities, that will cause enormous harm,” Benoliel said.

Small business owners who may not typically trust the banking system or government often will work one-on-one with a community organization, she said.

CDFIs across Pennsylvania were allocated $32 million under financial assistance, healthy foods and persistent poverty county financial assistance awards last year.

If there’s no federal support, local nonprofits will likely have to raise money another way, said Varsovia Fernandez, CEO of the Pennsylvania CDFI Network.

“There is a possibility of moving to a fee for services model where small businesses need to pay to receive technical assistance education and I would imagine [loans would have] a higher rate to be sustainable,” she said. “I am hoping that it’s not a drastic change what the White House ends up doing.”

On March 17, U.S. Treasury Secretary Scott Bessent said in a statement that the Trump administration understands the significance of the federal fund and local community lending organizations.

“CDFIs [Community Development Financial Institutions] are a key component of President Trump’s commitment to supporting Main Street America in the pursuit of job growth, wealth creation and prosperity,” Bessent said.

ORLANDO, Fla. – This week on “Black Men Sundays,” it’s a throwback to Season 5 when host Corie Murray interviewed Jamil Frazier, an entrepreneur who’s founded more companies than most people have probably ever worked for.

“For me, it was always a dream, I always wanted to be in a position where I could give back,” Frazier said, discussing his motivation for creating scholarships, something stemming from his own experiences growing up.

He emphasized the importance of partnering with local schools and communities to establish scholarship funds, encouraging listeners to find out what they’re passionate about so they can start connecting with leaders in those fields.

But building wealth isn’t as easy as just meeting new people and making connections, however fruitful they may be.

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Frazier stressed the importance of saving and investing on top of all that networking. The key, he says, is ensuring you invest consistently, regardless of the amount.

“If you have some sort of income coming in, take 10% of that and start putting it away to save. Take another 10% of that and put it away so that you can invest, and my philosophy — what I teach my students and what I teach my kids — it’s that last 10%, put it away so that you can give it away, so you can tithe or give it away in the form of scholarships. Live off of 70% of your income,” he said, encouraging listeners to invest in various vehicles such as real estate, the stock market and private equity, adding, “All of them work.”

Hear the interview and more in Season 6, Episode 8 of “Black Men Sundays.”

Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.