The Department of the Treasury Community Development Financial Institutions Fund awarded $280,000 under the Small Dollar Loan Program (CFDA 21.025) to University Financial Corp, DBA Sunrise Banks on September 23, 2021 through December 31, 2024. The funding will enable the recipient to establish a loan loss reserve and provide technical assistance to support small dollar lending to underserved populations. Specifically, grant funds will be used to defray costs of maintaining a small dollar loan program and support related technology, staffing, and eligible activities. The intended outcomes are to increase access to affordable capital and credit building opportunities for the unbanked and underbanked, allowing greater participation in the mainstream financial system. No subrecipients are involved in delivering the program's services.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $280.0k | 9/23/21 |