Project Grant 22ERP061428G

The Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded a $2.478 million Project Grant under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA #21.033) to CBC Federal Union. The grant will support CBC Federal Union'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 2028. Specifically, the funding will enable CBC Federal Union to build organizational capacity and acquire technology, staff, and other resources necessary to provide increased access to capital and financial services for underserved borrowers and communities. The CDFI ERP aims to mitigate economic harms of the pandemic by bolstering community development financial institutions' ability to respond to capital and financial service needs in hard-hit areas.