The Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund) awarded Sykes Equity LLC $500,000 under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA 21.033) on April 10, 2023. The award will support Sykes Equity's efforts to expand lending, grant making, and investment activity in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic through December 31, 2028. Specifically, the funding will enable Sykes Equity, a minority-owned for-profit organization, to increase access to capital and financial services for underserved borrowers as well as build organizational capacity through technology and staff acquisitions. The CDFI ERP aims to provide grants to Community Development Financial Institutions to respond to economic impacts of the pandemic in hard-hit communities and borrowers.
Generated 2/6/24, 10:02 AM