The Community Development Financial Institutions Fund (CDFI Fund) within the Department of the Treasury awarded Bank of Zachary $3.7 million under the CDFI ERP program from April 2023 through December 2028. The CDFI ERP provides grants to Community Development Financial Institutions to expand lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. Through this award, Bank of Zachary will use the funding to increase lending, investments, services, and technical assistance to underserved communities and populations, including minorities. Specific activities will include $3.7 million in lending to low- and moderate-income communities and economically distressed individuals, as well as investments and capacity building support for other CDFIs serving pandemic-affected areas.
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