The Community Development Financial Institutions Fund (CDFI Fund) awarded TMC Community Capital $500,000 under the Equitable Recovery Program (CDFI ERP) on April 10, 2023. The CDFI ERP provides grants to Community Development Financial Institutions to expand lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by COVID-19.
Through this award, TMC Community Capital will provide $500k in lending and grant making services to minority-owned and women-owned small businesses in underserved areas through September 2028. As a nonprofit online microlender focused on empowering women entrepreneurs, TMC utilizes CDFI grants to increase access to affordable capital for minority- and women-owned businesses. Previous CDFI awards have allowed TMC to lend over $1M to borrowers in low-income communities impacted by the pandemic.
Generated 2/6/24, 9:15 AM