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

The Department of the Treasury Community Development Financial Institutions Fund awarded a $125,000 Project Grant to Invest PGH Inc. under the Community Development Financial Institutions Program (CFDA 21.020). The grant will support technical assistance activities through December 2023 to build the organizational capacity of certified and emerging Community Development Financial Institutions. Technical assistance funds will be used for personal and professional services, travel, training, equipment, and supplies. The goal is to increase access to affordable financial products and services for low-income individuals and underserved communities across the United States. Intended beneficiaries include for-profit organizations and private nonprofit institutions. If a subsidiary Community Development Financial Institution is used for activities, subrecipient details would be included in the assistance agreement.

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.