To provide an alternative to high-cost small dollar loans, as well as help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream…
Ended Project Grant Awarded Last action
- Award ID
- 21SDL058379G
- Recipient
-
Frankenmuth Credit Union UEI XWJNBYZ44CF3
- Awarding agency
-
Community Development Financial Institutions Fund
Department of the Treasury
- Obligated
- $0
Award facts
- Assistance listing
- 21.025 Small Dollar Loan Program
- Completion date
- Place of performance
- United States
Award details come from USAspending.gov.
Description
- Activities
- Through the SDL program, the cdfi fund will provide: grants for loan loss reserves (LLR): the awards will enable a certified community development financial institution (cdfi) to establish a loan loss reserve fund in order to defray the costs of establishing or maintaining a small dollar loan program. Grants for technical assistance (TA): the awards will support technology, staff support, and other eligible activities to enable a certified cdfi to establish and maintain a small dollar loan program. End goal/expected outcomes: expected outcomes are an increase in small dollar lending to help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.
- Intended beneficiaries
- Nonprofit organizations, for profit organizations and other private institutions/organizations in the form of federally insured depository institutions, or federally-insured credit unions that are certified cdfis.
- Subrecipient activities
- There are no subrecipients for this program.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Amendment | -$105,000 | |
| Amendment | $0 | |
| Original award | $105,000 |
Quick answers
Who received award 21SDL058379G?
21SDL058379G was awarded to Frankenmuth Credit Union by Community Development Financial Institutions Fund (Department of the Treasury) on September 23, 2021.
How much is award 21SDL058379G worth?
$0 has been obligated on 21SDL058379G.
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