The Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded a $3.7 million Project Grant to Cooperativa De Ahorro Y Credito Morovena through the Equitable Recovery Program (ERP). The grant will support expanded lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by COVID-19 through December 2028.
As a minority-owned, non-profit community development financial institution, Cooperativa De Ahorro Y Credito Morovena will use ERP funding to increase capital access for underserved borrowers and communities. The award will also enable capacity building to provide additional financial products and services to Hispanic American groups impacted by the pandemic through new technology, staffing, and tools.
Generated 2/6/24, 9:50 AM