The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $237,161 Project Grant to Connect Bank under the Bank Enterprise Award (BEA) Program (CFDA 21.021). The grant supports Connect Bank, an FDIC-insured for-profit Subchapter S Corporation, in increasing its investments and support for certified CDFIs, as well as expanding its community development financing and service activities in the most economically distressed communities. The award period runs from September 19, 2024, to December 31, 2025. Through this funding, Connect Bank will provide tailored financial products, technical assistance, affordable housing financing, small business support, and targeted financial services to low- and moderate-income populations in underserved areas, with the goal of increasing access to capital and economic development opportunities in economically challenged communities.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $0 | 10/25/24 | ||
| Not listed | $237.2k | 9/19/24 |