This $105,000 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund will support African Economic Development Solutions' small dollar lending program through December 2024. The grant enables the certified Community Development Financial Institution to establish a loan loss reserve and receive technical assistance to provide alternative financing options to underserved communities. Specifically, the funding will help defray costs of maintaining a small dollar loan program and support related technology, staffing, and eligible activities. By increasing access to affordable capital and credit options, the program aims to help the unbanked and underbanked build credit and better integrate into the mainstream financial system, as outlined in the Small Dollar Loan Program under the Community Development Financial Institutions Fund. No subrecipients are involved in delivering the funded services.
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