Project Grant 211FA058174G

Award Date 12/8/21
Completion Date 12/31/24
Dollars Obligated $525K
Federal Grant Program
21.020
Assistance Type
Project Grant
Place of Performance
United States
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This Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund provides $525,000 to Altcap under the Community Development Financial Institutions Program (CFDA 21.020) through December 2024. The funding will support Altcap's provision of financial products, services, development services, loan loss reserves, and capital reserves to eligible markets and target populations as defined in 12 C.F.R. 1805, with the goal of building financial capacity to lend and serve rural and urban low-income communities and individuals lacking adequate access to affordable options. As a certified Community Development Financial Institution, Altcap will use the funding to revitalize local economies and promote community development. No subaward activities are indicated.

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