Cdfi rapid response program award

The Department of the Treasury's Community Development Financial Institutions Fund awarded a $1,278,385 Project Grant to Isla Coop under the Community Development Financial Institutions Rapid Response Program. The grant will support Isla Coop's ability to respond to the economic impacts of the coronavirus by providing financing and other support services to communities from June 2021 through June 2023. As a Community Development Financial Institution, Isla Coop uses Treasury funding to deliver products and services that respond to the economic needs of low-income individuals and communities that lack access to affordable financial products from traditional institutions. This award will allow Isla Coop to prepare for and mitigate the effects of the pandemic on its client base through the CDFI Rapid Response Program's goal of supporting CDFIs as they address credit and capital market challenges in low-income areas.