The Federal Deposit Insurance Corporation (FDIC)-insured Commercial Bank & Trust Company, doing business as Commercial Bank, was awarded a $280,369 Project Grant under the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund's Bank Enterprise Award (BEA) Program (CFDA 21.021). This grant aims to increase Commercial Bank's investments and support for certified CDFIs, as well as expand its community development financing and service activities in the most economically distressed communities.
Through this funding, Commercial Bank will strengthen its capacity as a CDFI to partner with local organizations and extend affordable credit, technical assistance, and other financial services to low- and moderate-income populations and areas disproportionately impacted by COVID-19. The grant supports Commercial Bank's ongoing efforts to increase lending, investments, and tailored financial products for underserved communities, aligning with the BEA Program's objective of leveraging federal resources to promote economic development in disadvantaged regions across the United States.
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