This $415,000 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund will support Guadalupe Credit Union's participation in the Small Dollar Loan Program between September 2021 and December 2024. The Small Dollar Loan Program aims to increase access to affordable capital and credit-building opportunities for underserved populations through the provision of loan loss reserves and technical assistance grants to certified Community Development Financial Institutions. Specifically, this award will enable Guadalupe Credit Union to establish a loan loss reserve fund to offset costs associated with maintaining a small dollar loan program, and will provide support for technology, staffing, and other eligible activities needed to establish and sustain such a program. The expected outcomes are improved access to mainstream financial services and increased small dollar lending to help build credit among unbanked and underbanked communities.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $415.0k | 9/23/21 |