Aeris: Unlocking the power of CDFI data to strengthen small business financing

Our programs

Aeris is the leading expert in the financial and impact performance of Community Development Financial Institutions (CDFIs) and other private impact loan funds.

How Aeris works to strengthen the small business ecosystem

  • The pandemic revealed stark gaps in the traditional financial system, particularly in its ability to reach the small businesses that needed financial support the most. In contrast, Community Development Financial Institutions (CDFIs) were able to quickly step up — disbursing billions in Paycheck Protection Program (PPP) loans that kept businesses afloat and families solvent.
  • Despite their critical role, CDFIs remain underrepresented in national data and research efforts. That lack of visibility limits their role in informing important policy and investment decisions. Without robust, centralized data, it’s harder to measure their impact — or design solutions that scale their reach.
  • Aeris is working to change that. A longtime leader in CDFI rating and analysis, Aeris built the Aeris® Cloud in 2012 — a cloud-based platform that transformed how performance data on CDFI loan funds is collected, monitored, and analyzed. The platform has become essential for evaluating the performance of individual CDFIs, but until recently, it lacked the functionality to analyze industry-level data that could inform broader decisions and drive system-level change.

Program overview

Our work together

  • With Mastercard Strive USA’s support, Aeris expanded the functionality of the Aeris Cloud to collect a broader set of CDFI data and conduct industry level analysis. These enhancements, completed in July 2024, create a powerful tool for policymakers, researchers, and investors — unlocking opportunities to develop better policy, deepen knowledge about the industry, and create new capital vehicles that drive more resources to CDFIs and the small businesses they support.
  • The partnership also supports Aeris in engaging national research and advocacy groups on how Aeris’ expanded dataset can inform the development of innovative CDFI capital products, supportive public policy, and research on how CDFIs drive small business growth.

By the numbers

  • The Aeris Cloud platform houses performance data for nearly 200 loan funds managing over $25 billion in capital — covering 85% of all on-balance-sheet assets in the industry (for loan funds).
  • Aeris’ ratings, due diligence, insights, and standardized data have guided over 200 corporate, government, and philanthropic stakeholders in underwriting, monitoring, and managing investments in CDFI.

“Our partnership with Mastercard Strive USA has provided a unique opportunity to expand our database and provide investors and policymakers with industry-level trend analysis that highlights the capacity of CDFIs to manage risk while providing critical financing and support to main street businesses. As investors’ awareness of and trust in CDFIs grow, CDFIs will realize increased capital access for their lending activities and the businesses they finance.”

Paige Chapel

President & CEO, Aeris

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