Project Grant 201BE023673G

This $295,000 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund will support the Bank of Commerce's participation in the Small Dollar Loan Program. Through this award ending December 2024, the Bank of Commerce will establish a loan loss reserve and receive technical assistance to provide alternative small dollar loans to underbanked populations. The Small Dollar Loan Program aims to increase access to affordable capital and credit building...

The University of Memphis was awarded a $2.8 million project grant from the Department of Commerce Economic Development Administration under the BUILD TO SCALE federal grant program (CFDA #11.024) to fund the Black Wealth Advancement through New Business and Knowledge Development (BANK) initiative. BANK will provide infrastructure and staffing to raise $5.3 million in equity capital over three years to transform 20 microbusinesses annually into scalable small businesses in the technology sector....

The Bank of Winona received a $1.8 million Project Grant award from the Department of the Treasury's Community Development Financial Institutions Rapid Response Program on June 15, 2021. The grant funding will support the bank's efforts to prepare for and respond to the economic impacts of the coronavirus through the program completion date of December 31, 2023. As the designated Community Development Financial Institution (CDFI) serving the Winona area, the Bank of Winona will use the grant...

Commercial Bank & Trust Company was awarded a $1.8 million Project Grant from the Department of the Treasury's Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024) on June 15, 2021. The grant will support the bank's ability to provide financial products and services through December 31, 2023 to address the economic impacts of the coronavirus pandemic in its communities. As a Community Development Financial Institution, Commercial Bank & Trust...

Federal Grant Award Summary Access to Capital for Entrepreneurs, Inc. received a $779,165 Project Grant award from the Small Business Administration (SBA) Office of Capital Access under the Microloan Program (CFDA 59.046), effective July 1, 2025, through June 30, 2026. As an intermediary lender and Community Development Financial Institution (CDFI), the organization will utilize these funds to provide microloans up to $50,000 to startup, newly established, and growing small businesses, with loan...

Commercial Bank & Trust Company was awarded a $1.8 million project grant from the Department of the Treasury's Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024) on June 15, 2021. The grant will support Commercial Bank's ability to respond to the economic impacts of the coronavirus through December 31, 2023. As a Community Development Financial Institution, Commercial Bank will use the funding to provide financial and technical assistance to...

The Bank of Commerce was awarded a $1,826,265 CDFI Rapid Response Program grant by the Department of the Treasury's Community Development Financial Institutions Fund. The grant will support the Bank of Commerce's ability to respond to the economic impacts of the coronavirus pandemic through the Community Development Financial Institutions Rapid Response Program (CDFI RRP). The CDFI RRP aims to support, prepare for, and respond to the economic effects of COVID-19 through Community Development...

The Department of the Treasury Community Development Financial Institutions Fund awarded Southeast First National Bank a $125,000 Project Grant under the Community Development Financial Institutions Program (CFDA 21.020). The grant will support the bank in building its organizational capacity to serve eligible low-income communities and individuals across the United States who lack adequate access to affordable financial products and services through September 2024. Key activities to be...

The Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded Bank of Anguilla $1.826 million under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024) on June 15, 2021. The funding is to be used through December 31, 2023 to support, prepare for, and respond to the economic impacts of the coronavirus pandemic in the United States, in line with the objectives of the CDFI RRP program. Specifically, Bank of...

Engage Federal Credit Union received a $500,000 Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund on June 15, 2021. The funding supports Engage FCU's participation in the Community Development Financial Institutions Rapid Response Program, which provides capital to CDFIs working to address economic challenges resulting from the COVID-19 pandemic. Through this award, Engage FCU will deliver financial products and services to support...