The Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund) awarded a $2,478,839 Project Grant to Neighborhood Finance Corporation under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA #21.033).
The grant funding will support Neighborhood Finance Corporation's efforts to expand lending, grant making, and investment activity in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. Specifically, the organization will provide $2.48 million in financing and other resources to borrowers and minorities with unmet capital needs. The CDFI ERP award will also enable Neighborhood Finance Corporation to strengthen its operational capacity and acquire technology and staff needed to carry out these activities through December 2028.
Generated 2/6/24, 4:41 AM