Cooperativa De Ahorro Y Credito De Cabo Rojo (Cooperativa) received a $3.7 million Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA 21.033). The grant aims to expand Cooperativa's lending, grant making, and investment activity in low- and moderate-income communities as well as borrowers disproportionately impacted by COVID-19 through December 2028. As a minority-owned, non-profit community development financial institution, Cooperativa offers various loan products and savings accounts to increase access to capital and financial services for underserved populations. No subrecipients were indicated for this award to strengthen Cooperativa's capabilities as a CDFI serving targeted markets in Puerto Rico through the end of 2028.
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