To promote economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIS) and emerging CDFIS.

The $125,000 Project Grant from the Department of the Treasury Community Development Financial Institutions Fund under the Community Development Financial Institutions Program will support technical assistance activities through June 2024. The awardee, Cooperativa De Ahorros Y Credito La Comeriena Farma Coop Domingo Santiago, will build the organizational capacity of certified and emerging Community Development Financial Institutions to serve eligible low-income communities and rural areas that lack access to affordable financial products and services. Funds will cover costs associated with personal services, fringe benefits, professional services, travel, training, equipment, supplies, and incorporation activities. The goal is to strengthen Community Development Financial Institutions' ability to promote economic revitalization and community development through expanded access to financial services for underserved populations, as defined in applicable regulations.

Activities

Technical assistance must be used for the following eligible activities subject to the applicable provisions of the uniform requirements: compensation ? Personal services, compensation ? Fringe benefits, professional service costs, travel costs, training and education costs, equipment, supplies, and incorporation costs (sponsoring entities only). End goal/expected outcomes: the goal of the technical assistance is to build certified and emerging cdfi?S organizational capacity to serve eligible markets and/or their target markets, in order to serve rural and urban low-income people, and communities across the nation that lack adequate access to affordable financial products and financial services.

Intended beneficiaries

Profit organization, private nonprofit institution/organization, other private institution/organization investment areas and targeted populations, as defined in 12 C.F.R. 1805.

Subrecipient activities

Only in the case where a cdfi depository institution holding company applicant intends to carry out the activities of an award through its subsidiary cdfi insured depository institution, as identified in its assistance agreement with the cdfi fund.