Project Grant 241BE066398G

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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This $280,369 Project Grant award from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Bank Enterprise Award (BEA) Program is intended to support Peoples Bank, a CDFI-certified Subchapter S Corporation located in Mendenhall, Mississippi. The award will fund the bank's activities to increase its investments and support for certified CDFIs, as well as expand its lending, investing, and service-related activities in the most economically...
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The federal Project Grant award, with ID 241BE066398G, was 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). The $280,369 grant, awarded on September 19, 2024, supports Peoples Community Bank, a for-profit Subchapter S Corporation, in increasing its investments and support to certified Community Development Financial Institutions (CDFIs) and expanding its lending, investing, and service-related activities in the most economically distressed communities. The key products and services delivered through this funding include providing technical assistance, affordable housing financing, small business support, and developing tailored financial products for low- and moderate-income populations in underserved areas. The grant aims to incentivize the bank to support community and economic development by deploying financial resources to institutions actively engaged in targeted community financing and service initiatives.

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