Project Grant 241BE066369G

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 241BE066369G, provided 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), awarded $280,369.00 to Farmers And Merchants Bank, doing business as Cornerstone, on September 19, 2024. This Project Grant supports the bank's efforts to increase investments and support for certified Community Development Financial Institutions (CDFIs), and to expand its community development financing and service activities in the most economically distressed communities. Cornerstone, a for-profit CDFI, will utilize the grant funding to provide technical assistance, affordable housing financing, small business support, and develop tailored financial products for low- and moderate-income populations in underserved areas. The grant award is part of the BEA Program's objective to leverage federal resources to promote economic development in distressed communities across the United States.

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