Project Grant 241BE066310G

Award Date 9/19/24
Completion Date 12/31/25
Dollars Obligated $280K
Federal Grant Program
21.021
Assistance Type
Project Grant
Place of Performance
United States
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The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $280,369 Project Grant under the Bank Enterprise Award (BEA) Program (CFDA 21.021) to First State Bank, a for-profit banking institution located in Waynesboro, Mississippi.

The grant is intended to incentivize and support First State Bank's community development financing and service activities in economically distressed communities. Specifically, the funding will enable the bank to increase its investments in and support for certified CDFIs, as well as expand its lending, technical assistance, affordable housing financing, small business support, and tailored financial products for low- and moderate-income populations in underserved areas. This grant award, with a project period from Sep. 19, 2024, to Dec. 31, 2025, aligns with the BEA Program's goal of leveraging federal resources to promote economic development in underserved communities across the United States.

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