The Department of the Treasury's Community Development Financial Institutions Fund awarded Southern Bancorp, Inc. a $1.8 million Project Grant under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024) on June 15, 2021. The grant is intended to support Southern Bancorp's ability to provide financial assistance to communities and businesses economically impacted by the coronavirus pandemic through December 31, 2023. As a Community Development Financial Institution, Southern Bancorp will use the funding to prepare for and respond to the economic effects of COVID-19 in the United States through the delivery of loans, grants, technical assistance and other financial products that address the economic needs of local communities and businesses.
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