The Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund) awarded a $4.3 million Project Grant to Bank of Commerce & Trust Co. under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA #21.033). The grant will support the expansion of lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. Specifically, funding will enable Bank...
Commerce Bank received a $2.48 million project grant award from the Department of the Treasury's Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA 21.033) on April 10, 2023. The grant will support Commerce Bank's efforts to expand lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic through December 31, 2028. As a certified Community Development Financial...
Commerce Bank received a $1.8 million project grant award from the Department of the Treasury's Community Development Financial Institutions Rapid Response Program on June 15, 2021. The grant is intended to support the ability of Community Development Financial Institutions to respond to the economic impacts of the coronavirus and prepare for and respond to related needs through February 10, 2023. As part of the CDFI RRP, Commerce Bank will use the grant funding to deliver financial and...
The Community Development Financial Institutions Fund within the Department of the Treasury awarded Commerce Bancorp, Inc. a $701,530 Project Grant under the Community Development Financial Institutions Program. The grant funds will support economic revitalization and community development through the provision of financial products, services, development services, loan loss reserves, and capital reserves to eligible markets and target populations as defined in 12 C.F.R. 1805. The goal is to...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $280,369 Project Grant to Bank of Commerce, a certified CDFI, under the Bank Enterprise Award (BEA) Program (CFDA 21.021). The grant aims to incentivize Bank of Commerce to increase its investments and support for other CDFIs, as well as expand its community development financing and service activities in economically distressed communities. Key activities funded through this award include...
The Bank of Commerce was awarded a $1,826,265 CDFI Rapid Response Program grant by the Department of the Treasury's Community Development Financial Institutions Fund. The grant will support the Bank of Commerce's ability to respond to the economic impacts of the coronavirus pandemic through the Community Development Financial Institutions Rapid Response Program (CDFI RRP). The CDFI RRP aims to support, prepare for, and respond to the economic effects of COVID-19 through Community Development...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $229,934 Project Grant under the Small Dollar Loan Program (CFDA 21.025) to Bank of Commerce, a certified CDFI. The grant will enable Bank of Commerce to establish and maintain small business loan programs that provide affordable alternatives to high-cost small dollar loans. This funding supports the bank's efforts to increase access to affordable capital, help unbanked and underbanked...
The Project Grant award of $1,285,000 from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program, with an award date of September 26, 2024, supports Commerce Bancorp, Inc., a community development financial institution (CDFI) based in Greenwood, Mississippi. This funding enables Commerce Bancorp to provide financial products, development services, loan loss reserves, and capital reserves to underserved, low-income, and Native American communities....
The Exchange Bank and Trust Co received a $3.7 million grant award from the Department of the Treasury's Community Development Financial Institutions Fund under the Community Development Financial Institutions Fund Equitable Recovery Program. The grant will support the bank's efforts to expand lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. Funds will also help build the bank's capacity to provide...
The Federal Grant Award, ID 241BE066257G, was provided by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Bank Enterprise Award (BEA) Program (CFDA 21.021). The $181,766 award was made on September 19, 2024, to Bank of Commerce & Trust CO., a for-profit FDIC-insured depository institution, to increase its investments and support for certified CDFIs and expand its community development financing and service activities in economically...