Project Grant 241BE066357G

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 Federal Grant Award ID 241BE066357G, a Project Grant awarded 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), provides $280,369 in funding to Unity Bank of Mississippi, doing business as Merchants & Farmers Bank, to increase investments and support for certified CDFIs and expand community development financing and service activities in the most economically distressed communities. The award period is from September 19, 2024, to December 31, 2025. As a certified CDFI, the bank specializes in providing financial services and support to economically distressed and underrepresented communities, particularly in low- to moderate-income areas. The federal grant funding will enable the bank to deliver increased lending, investments, and technical assistance to residents and businesses in these communities, with a focus on addressing economic challenges, expanding financial products and services, and serving underrepresented borrowers with unmet capital needs.

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