The Department of the Treasury's Community Development Financial Institutions Fund awarded $280,000 under the Small Dollar Loan Program (CFDA 21.025) to Holy Rosary Credit Union on September 23, 2021. Through this Project Grant, Holy Rosary Credit Union will establish a loan loss reserve and receive technical assistance to develop and maintain a small dollar loan program. This program aims to increase access to affordable capital and credit-building opportunities for underbanked populations through $1,000 or less loans as an alternative to high-cost options. Expected outcomes include expanded small dollar lending to help build credit and financial inclusion. The Small Dollar Loan Program supports certified Community Development Financial Institutions in providing these services through 2024.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $280.0k | 9/23/21 |