Project Grant 21SDL058381G

This $162,217 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund will support Instep Credit Union's participation in the Small Dollar Loan Program (CFDA #21.025). Through December 2024, grant funds will enable the credit union to establish a loan loss reserve and receive technical assistance to establish and maintain a small dollar loan program. The program aims to increase affordable small dollar lending to underbanked and unbanked populations, helping them build credit and access mainstream financial services. No subrecipients are involved. The grant activities align with the Small Dollar Loan Program's goals of expanding access to responsible small loans as an alternative to predatory options, with expected outcomes of greater financial inclusion and credit building for vulnerable consumers.