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
- Award ID
- 21SDL058456G
- Recipient
-
Cooperativa De Ahorro Y Credito De Lares UEI KQHGKRWLKKT5
- Awarding agency
-
Community Development Financial Institutions Fund
Department of the Treasury
- Obligated
- $280,000
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.
Quick answers
Who received award 21SDL058456G?
21SDL058456G was awarded to Cooperativa De Ahorro Y Credito De Lares by Community Development Financial Institutions Fund (Department of the Treasury) on September 23, 2021.
How much is award 21SDL058456G worth?
$280,000 has been obligated on 21SDL058456G.
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